Search found 41 matches

by Turning Point
Thu Jan 19, 2023 2:21 pm
Forum: Accounting
Topic: ID Number under Tax Type
Replies: 2
Views: 317

Re: ID Number under Tax Type

Great! Thank you.

Lisa
by Turning Point
Wed Jan 18, 2023 1:59 pm
Forum: Accounting
Topic: ID Number under Tax Type
Replies: 2
Views: 317

ID Number under Tax Type

I need to enter a new tax for Oregon. However, when I try to enter our state tax ID number, it says there is already a tax with that number. The previous bookkeeper had set up the state tax with our ID number and the transit tax with "unknown". Now we have a paid family leave tax that I have to ente...
by Turning Point
Wed Nov 09, 2022 4:53 pm
Forum: Accounting
Topic: Releasing restricted funds
Replies: 3
Views: 941

Re: Releasing restricted funds

Well, I think I wasn't clear in my question, although I do appreciate the information you provided. I was really asking about the legality of it. I am under the impression that if someone donates money but specifically says it's to be used for one thing, then it can only be used for that. So with th...
by Turning Point
Tue Nov 08, 2022 1:28 pm
Forum: Accounting
Topic: Releasing restricted funds
Replies: 3
Views: 941

Releasing restricted funds

We have a food pantry in our church. Someone anonymously donated 10,000 specifically for the renovation of the area set aside for their use. My question is, if the renovation never happens, how do I release the money? I can't return it to the donor because no one knows who it is.

Lisa
by Turning Point
Wed Mar 23, 2022 5:46 pm
Forum: Accounting
Topic: Hiding Funds
Replies: 1
Views: 394

Hiding Funds

Is there anyway to hide accounting funds? I would like to hide a lot of funds that we just don't use in order to not to have to scroll through them.

Lisa K
by Turning Point
Thu Dec 09, 2021 4:37 pm
Forum: Accounting
Topic: Mistake in entering check causing massive headache
Replies: 1
Views: 772

Mistake in entering check causing massive headache

When reconciling our checking account I realized I had made a mistake and I cannot figure out how to correct it, or if it even can be corrected. I am hoping someone here will save me! We wrote a check to our contractor. Below is what it looks like in Powerchurch. The check was written for 97382.20 b...
by Turning Point
Fri Nov 12, 2021 3:40 pm
Forum: Contributions
Topic: Contributions
Replies: 3
Views: 1027

Re: Contributions

We actually have a "donor" called loose cash. We treat it like a regular person and include the amounts in all of our reports. Works great for us.
Lisa
by Turning Point
Thu May 13, 2021 3:45 pm
Forum: Accounting
Topic: Setting up a holding fund
Replies: 3
Views: 976

Re: Setting up a holding fund

Since this these are funds that you are eventually required to pay out, a liability account is a good way to handle it. In this way you can expense the proper expense account for the full amount at the time of the invoice, yet retain what you have to pay later. Sorry to bother again. I just want to...
by Turning Point
Tue Apr 13, 2021 2:48 pm
Forum: Accounting
Topic: Setting up a holding fund
Replies: 3
Views: 976

Setting up a holding fund

Our church is beginning a major renovation of our building. According to Oregon law we are required to withhold 5% of each invoice and keep it in a "retention account". We have a renovation fund already set up for smaller items we've had done. Am I correct in thinking that I should set up a liabilit...
by Turning Point
Tue Dec 29, 2020 1:06 pm
Forum: Contributions
Topic: pass through vs temp. restriction
Replies: 1
Views: 730

pass through vs temp. restriction

Our church is planning on helping one of our missionaries purchase a home for their ministry. We plan on gathering the money and then sending it on to them. My question is would it be better to use a pass through account or a temp. restriction account. We just want to make sure that all the money is...
by Turning Point
Wed May 06, 2020 1:50 pm
Forum: Contributions
Topic: Reinstating Vanco Customer
Replies: 1
Views: 794

Reinstating Vanco Customer

One of our members set up an account with Vanco, then had her CC compromised, tried to cancel the card at Vanco and ended up cancelling her account. I went into Vanco and removed the date from the cancel field but now she gets a message telling her to contact the church to reinstate her account. Has...
by Turning Point
Fri Apr 24, 2020 1:10 pm
Forum: Contributions
Topic: Failure to login to Vanco
Replies: 2
Views: 703

Re: Failure to login to Vanco

That worked perfectly. Thanks so much! You make my job so much easier!
by Turning Point
Thu Apr 23, 2020 5:33 pm
Forum: Contributions
Topic: Failure to login to Vanco
Replies: 2
Views: 703

Failure to login to Vanco

I have just set our church up to accept online contributions through Vanco. After receiving all of the credentials required, I entered that information in the "Import from Vanco" screen. I get as far as importing, but I get a "Login request failed with: Request Timeout" Vanco says they are not famil...
by Turning Point
Tue Jan 14, 2020 3:39 pm
Forum: Accounting
Topic: Bring a fund to zero
Replies: 4
Views: 555

Re: Bring a fund to zero

Is that a negative balance? You can do an Out of Balance transaction to add an amount to the fund to clear it out. You can find out more about Out of Ballance entries by doing a search on OOB in the built-in help. If the Balance Sheet shows that the books are in balance (total assets = total liabil...
by Turning Point
Fri Jan 10, 2020 5:31 pm
Forum: Accounting
Topic: Bring a fund to zero
Replies: 4
Views: 555

Bring a fund to zero

We have a fund for land that we no longer owe. It shows a balance of (1868). Is there a right was to zero this out to get it off the books?