Two questions:
1. I've completed total set-up of PowerChurch, including the Accounting Module. But I forgot to include an outstanding check from last year. What's the best way of adding this to our system.
2. What account do these outstanding checks from last year go to when they clear?
What account do outstanding checks (pre-PowerChurch installation) go to when they clear.
Answer: They will not appear. They are technically already included in your Unrestricted Net Assets account. They were already subtracted from your beginning checking balance which you entered in PowerChurch. PowerChurch will allow them to appear in your bank reconciliation window for reconciliation purposes, only.
Answer to your first question:
Outstanding checks can only be entered as you go through the installation process. There is no other way to enter them without "tricking" the system, which I will explain in a moment.
So, one answer is that you could hit RESET ACCOUNTING and re-enter everything, again. A "purest" might do that.
A practical person, myself included, might not want to go back and redo everything because of one missed check.
The steps are as follows, to "trick" the system.
#1) if you installed PowerChurch on 1/1/13, then the corrections will take place on 1/1/13 even though the check was cut prior to that date. It must be added back into the checking and taken out of Unrestricted Net Assets. If the check was $100, then it would look like this:
DB 01-1110-000 checking $100.00
CR 01-3110-000 Unrestricted Net Assets $100.00
#2) the check must be reissued, the date will be the first date that you installed PowerChurch, in my example 1/1/2013.
In Accounts Payable:
ADD Manual Check 3414 $100
CR 01-1110-000 checking $100
DB 01-5360-000 some expense $100
Date: 1/1/13
Post in Accounts Payable and Fund Accounting.
The check is now in the system dated 1/1/13.
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