Revamp Contribution Funds

[CoveBaptist]

Still being relatively new to Powerchurch, we have been passing all moneys through the contribution module. This includes pass thru funds such as donation to mission projects, payments for trips, purchase of ministry items such as shirts, purchase of event tickets. After printing year end contribution statments, we realize this presents an issue with not all of these items being considered tax deductible. Is it possible to wipe out all the contribution funds and re-structure the numbering system so non-tax deductibel itmes fall into a particular number range. Thanks for any advise.

[NeilZ]

Still being relatively new to Powerchurch, we have been passing all moneys through the contribution module. This includes pass thru funds such as donation to mission projects, payments for trips, purchase of ministry items such as shirts, purchase of event tickets. After printing year end contribution statments, we realize this presents an issue with not all of these items being considered tax deductible. Is it possible to wipe out all the contribution funds and re-structure the numbering system so non-tax deductibel itmes fall into a particular number range. Thanks for any advise.

You can, but unfortunately, you won't be able to do any renumbering of the existing funds. You can stop using them and create new ones outside of the tax deductible range. You can then delete the old ones after the proper amount of time, usually three years. However, for those specific funds for deductible contributions, you MUST keep them for at least three years per the IRS.

However, in Version 11 you can set the contribution fund to a specific Type to get around this issue. You can create fund types of Tax Deductible and Non-Tax Deductible, assign the various Contribution Funds to each type, and only select the type you want to include on Contribution reports.

That said, for things like sales of shirts, event tickets, etc, I would not use the contribution module to track this. What we used to do was have the treasurer do the deposit of these items, and enter the transactions directly into Funds Accounting.

I've also seen churches use the Accounts Receivable module to track such sales.

Hope this helps.

[Jeff]

You can reassign a contribution fund number.

Version 11
Go to Contributions -> Reassign -> Reassign Fund Number

Version 10.4
Go to Contributions -> Reassign a fund number

Prior to version 10.4
Go to Contributions -> Maintain List of Contribution Funds, navigate to the fund, change the fund number on the screen and click save.

[NeilZ]

You can reassign a contribution fund number.

Version 11
Go to Contributions -> Reassign -> Reassign Fund Number

Version 10.4
Go to Contributions -> Reassign a fund number

Prior to version 10.4
Go to Contributions -> Maintain List of Contribution Funds, navigate to the fund, change the fund number on the screen and click save.

DOH !! Forgot that ..

[wms7328]

We do use contribution funds for those pass through items you referenced. I did have them all grouped above all the other contributions funds so when I print the statements, I just don't include those funds. However, as referenced in previous answer, V11 gives you a very easy way to handle this. You simply only include the funds that are tax deductible in the reports by a simple checkbox on the fund describtion page.

The reason we used contribution funds is it gives me an easy way to print a list of folks who have paid for various items, like tickets, books, etc. This way we dont' have to keep another list and remember to update it each time we get a payment. We also have recently added electronic funds transfer through our website and paymetns for these items can be entered, they are imported into PC through the contributions module.

Over the years I've decided that only having to enter the data once in PC is the best way to keep all records accurate.

[NeilZ]

One of the reason we didn't use the Contribution module to track sales, was that quite often, sales were not to members, and we didn't want to have use the 'default' Lucy Cash ID to include that number.

The ministry usually tracked who they sold to, and unless there was a tax deductible portion of the price, we just lumped the funds together and had the Treasurer do the deposit entry directly info Funds Accounting, making sure that the ministry was credited with the income.

The money went on a deposit slip separate from the Sunday collection, so there was that separation also.