User Support Forum

I have been volunteering to do accounting at an Episcopal Church that was ruptured. We had PowerChurch v.9, I entered in, and I have come to learn accounting and love this program and this forum. Our new vestry is unfamiliar with PowerChurch and wants us to move to QuickBooks. This is alarming me; I...

But what this means at this point is: the church needs to write a check to the school for $1200 and the school needs to write a check to the church for $1200. Is this necessary for accountability? Is there really no way to do it via journal entries?

Your assessment is correct: Payments from one checking account really should be made by the other. Thank you very much, Matt, for your response. Now to just find what went wrong! So, even though both checking accounts may be accessible to both funds, do we still need to write physical checks between...

Mmm, something is still not right. The school checking account is not reconciling. The trial balances in fund 03 look correct. I found one library book with one paragraph which says that amounts borrowed or spent by one fund using cash from a different fund should be set up in the former as a loan p...

Thank you, I don't feel comfortable messing with equity accounts. I'm finding if I credit the payroll, then it is correct as far as the school is concerned, but not correct in the school checking reconciliation. Oh! you are saying debit 01-1130 and credit 01-1110. Thank you, I'll try this now. I apo...

I agree. A big Thank You to this forum!

Ah, so the answer is, both entities do need to write checks to each other. No, it is not comfortable to have only one checking account. The school is relatively separate from the church. I've been going round and round. I always find I want a one-sided entry. So, what did you think of the idea of wo...

Thank you, Matt, I was thinking along these lines today also (adding 1130 to fund 01). It would be nice though, if the summary between church and school could be in one account, hopefully the 03-1110. Yes, it would be simpler if the church wrote checks to the school for the cleaning and the school w...

1. The monthly check was a rough estimate based on previous year's expenses. The purpose was to help the school director plan the school budget without worrying about monthly fluctuations. 2. The expenses are apportioned variously. School occupies one of three buildings on the property, so we ascrib...

Nope, want to pay expenses in fund 03, and the liability is in fund 01.

Is it okay to do one side of a transfer without the other?

e.g.
Cleaning service 01-5720 debit 100.00
church checking 01-1110 credit 100.00
transfer into 03 03-9030 credit 100.00
school receivable 03-1110 debit 100.00

Have you tried using temporarily restricted accounts? I find they work very well and keep a separate balance.

I think I finallly got it. two separate episodes. school checking 03-1130 credit $1800 church checking 03-1110 debit $1800 church cleaning expense (paid by school payroll) 01-5720 debit $100 church owes school 01-2420 credit $100 Then expenses due to school (fund 03) can be paid either from 03-1110 ...

Sorry about the double talk in the first question. I created a separate equity account, school reimbursement net, that the expenses and transfers close to, but not having an income account, the balance does not include the asset balance. How about if I transfer in equity accounts? school net 03-3110...

Here are some example attempts: school Fund 03 church Fund 01 school checking 03-1130 credit $1800 church checking 03-1110 debit $1800 transfer into 01 01-9010 credit $100 cleaning service 01-5720 debit $100 or school checking 03-1130 credit $1900 church checking 03-1110 debit $1800 school payroll 0...

Hey all you creative accountants: In the thread, " Transfers between Funds (again)"Jeff said: "Just internally transferring money from one fund to another won't usually create a liability, unless one fund will have to repay the other fund at a future date." and "You would usually use transfers when ...