Search found 60 matches

by neac
Wed Apr 14, 2021 11:11 pm
Forum: Accounting
Topic: investment tracking and withdrawals
Replies: 21
Views: 379

Re: investment tracking and withdrawals

how do I adjust 1852 account?
by neac
Wed Feb 10, 2021 11:59 pm
Forum: Accounting
Topic: investment tracking and withdrawals
Replies: 21
Views: 379

Re: investment tracking and withdrawals

So, I don't know what to do now. What I'm looking at having in the 03 Fund is the following, not including transfer accounts: Assets: 1851-000 Investment amount 1852-000 Interest gained Equity(Fund balance): 3126-000 Investment fund balance (just changing the name of the current FB) If I understand ...
by neac
Sun Feb 07, 2021 11:32 am
Forum: Accounting
Topic: investment tracking and withdrawals
Replies: 21
Views: 379

Re: investment tracking and withdrawals

Ah, I'm starting to understand.

I also need to set up the Transfer accounts since we've never used them.

Can I set the "Transfer from" in the 03 fund to close to the investment fund balance (I hope this is correct?)
by neac
Sat Feb 06, 2021 7:26 pm
Forum: Accounting
Topic: investment tracking and withdrawals
Replies: 21
Views: 379

Re: investment tracking and withdrawals

So I'm still trying to wrap my head around how to correct the amount in our investment, and want to make sure I have the accounts set up properly in the new fund. In our case, we don't have losses, it's basically a high interest savings account. What I have set up: 03-1851-000 Investment (currently ...
by neac
Sun Jan 31, 2021 3:29 pm
Forum: Accounting
Topic: chart of accounts
Replies: 5
Views: 126

Re: chart of accounts

I guess I can't do a restore then.
I did a Detail changes in equity and there's nothing in those fund balances in Fund 01.
Can I delete them since they shouldn't be there, or can I only deactivate them?
by neac
Sun Jan 31, 2021 2:46 am
Forum: Accounting
Topic: chart of accounts
Replies: 5
Views: 126

Re: chart of accounts

I created a new fund for investments, but I didn't create those accounts in fund 1, it just looks like all the fund balances in fund 2 were copied and made active in fund 1.
I did a backup before adding the new fund, if I do a restore, maybe it will go back to the way it was before?
by neac
Sat Jan 30, 2021 12:17 am
Forum: Accounting
Topic: chart of accounts
Replies: 5
Views: 126

chart of accounts

On Jan 6 I pulled a Chart of Accounts by Fund report. Under Net Assets a number of fund balances only showed an active square in fund 02. Now, if I pull this same report, for some unknown reason all of these fund balances now have active squares in both fund 01 and fund 02 I don't know how all of th...
by neac
Fri Jan 29, 2021 2:56 pm
Forum: Accounting
Topic: investment tracking and withdrawals
Replies: 21
Views: 379

Re: investment tracking and withdrawals

if I were ambitious enough to do so, how would you suggest I go about setting up a seperate fund account for the investment? Follow the directions in the manual or the online help to create a new Accounting Fund. Copy the checking account, the unrestricted net assets account, the investment account...
by neac
Tue Jan 26, 2021 5:13 pm
Forum: Accounting
Topic: payroll deduction adjustment
Replies: 3
Views: 67

Re: payroll deduction adjustment

It's a non-taxable benefit: Long-term disability
by neac
Tue Jan 26, 2021 2:41 pm
Forum: Accounting
Topic: payroll deduction adjustment
Replies: 3
Views: 67

payroll deduction adjustment

For 2020, there are some payroll deductions that I need to adjust. The adjustments in question are for LTD deductions from employee paychecks. Employee paychecks were deducted too much. Since these errors were made in 2020, I would like to date the corrections for Dec. 31, 2020, but since I have to ...
by neac
Thu Jan 07, 2021 4:29 pm
Forum: Accounting
Topic: GST rebate asset
Replies: 5
Views: 103

Re: GST rebate asset

We only have one bank account.
by neac
Wed Jan 06, 2021 11:42 pm
Forum: Accounting
Topic: investment tracking and withdrawals
Replies: 21
Views: 379

Re: investment tracking and withdrawals

Finally getting around to doing this, :oops: after moving the funds from 01 and 02 to the newly created 03 Investment Fund, how would I "correct" the amount that is in the fund? The amount that is showing in PowerChurch does not accurately reflect the amount that is currently in the investment. Thanks
by neac
Wed Jan 06, 2021 11:37 pm
Forum: Accounting
Topic: GST rebate asset
Replies: 5
Views: 103

Re: GST rebate asset

Thanks Neil, looks like I may be writing up a SOP for how to transfer the funds and enter the rebates into PC. In terms of how the rebate works: for every expense where GST was paid, we enter the full amount of GST paid and PowerChurch is set up to automatically take 50% of the amount entered and de...
by neac
Wed Jan 06, 2021 1:20 pm
Forum: Accounting
Topic: GST rebate asset
Replies: 5
Views: 103

GST rebate asset

In powerchurch, we have 2 funds: 01-General and 02-Designated The designated funds are funds are marked for specific use, such as building/capital projects and missions. Inside both funds, we have an asset: GST rebate. Where we are in Canada, we can reclaim 50% of the GST on expenses from the govern...
by neac
Sat Oct 03, 2020 8:53 am
Forum: Accounting
Topic: Payroll Data Issues
Replies: 7
Views: 114

Re: Payroll Data Issues

I think doing a run of payroll will be easier for me to do.
Being in Canada, none of the tax modules in Powerchurch do anything for us anyways.