User Support Forum

I work in government and here is what we do. We have a contingency department and budget some amount of money for that every year. When something comes up that will use the contingency, we do a budget transfer from contingency to the department requiring the money. That way it does not cause a large...

If I understand your question correctly the solution would be to enter on the original deposit or contribution date negative contributions if the amount was to high in order to reduce it or a positive contribution to increase it. Of course, you have to do this by envelope number.

Actually the notes to the financial statements are not on the balance sheet. Notes to the financial statements cover all statements. Usually the balance sheet, income statement and statement of cash flows have a note on the bottom of the statement that reads as follows: "The notes to the financial s...

I am a little confused by your operating procedures. You say you have a Gen Operating checking account and a new santuary fund. Were these in two different accounting funds and/or two separate bank funds? You now have two separate checking accounts. I would offer this suggestion based upon what I un...

It sounds as though you are currently using straight line. I would recommend you continue to use that method. Since churches are not paying income taxes like a private business, section 179 deductions and accelerated methods of depreciation are not appropriate or needed for churches.

Good questions. There is probably a reason why a group is contributing and not individuals of the group but with that said, why not create an envelope number for the choir and enter it in as a contribution for that envelope?

The point I raised is a very technical or nit picking one in accounting. As an example lets say you have $100,000 in a mortgage which is a liability. Lets also say you have an amortization schedule and notice that you are scheduled to pay $1,000 in principal the next twelve months. Accountants and ,...

One more thing is when you publish financial statements at year end the amount of principal due in the next year would be classified as a current liability and the amount of principal not owed within the next year would still be a long term liability. This does not change the liability or amount owe...

Remember land is not a depreciable asset. The reason GAAP principles record fixed assets at cost is that is objective. Market values for fixed assets can be very subjective. Get three appraisals and you probably will get three different answers. Everyone would like to write things up for the gain bu...

One of the great things about this program is the ability to eliminate a lot of checking accounts. One reason you may want to have a separate checking account is you may be able to shift your building account to a money market account which would get you a higher rate of interest. Building fund acco...

While there is nothing to specifically track volunteer hours, I was thinking you could set up your volunteers up in payroll as a special paygroup with no dollars. Entering these hours like this should not impact your general ledger but it could give you totals for the volunteers that you desire.

Doing what you are proposing takes away from some of the uses of PowerChurch. By having the 6205 account the same in all funds, you can see the totals when you combine all funds. I also think really simplies the Chart of Accounts when because you know what that number is for regardless of the fund. ...

Use your account that you have set up as Certificate of Deposit. It is correct that the CD is an asset account.

The only way I know how is to enter the contributions in as a negative contribution on the same date and then post. This essentially cancels out what you entered incorrectly. Then enter them all again on the proper date. Check before you post and then post. The net effect to your general ledger is z...

There are few ways that you could go about doing this possibily. It sounds as though no check was written. The funds were transferred by the bank. If so, I would do a journal entry debiting your CD investment account and crediting your cash account(s). I would establish one object account for CD inv...