Search found 1338 matches

by JohnDMeyers
Wed Dec 31, 2014 1:53 pm
Forum: Accounting
Topic: Deleting Fund Accounting data
Replies: 9
Views: 1353

Re: Deleting Fund Accounting data

Another option is to choose RESTART ACCOUNTING, which essentially puts the fund account back to the original install conditions.
by JohnDMeyers
Tue Nov 18, 2014 4:05 pm
Forum: Accounting
Topic: JE from Designated to Fund Account
Replies: 4
Views: 555

Re: JE from Designated to Fund Account

Yes, I see what you mean. It won't let you switch the type of accounts. Just as well. I figured out an easier solution. Simply edit the item that was overpaid to the employee. Turn off all other items. Enter a negative amount in the item. Run Payroll. Much easier solution. Necessity is the mother of...
by JohnDMeyers
Tue Nov 11, 2014 5:07 pm
Forum: Accounting
Topic: JE from Designated to Fund Account
Replies: 4
Views: 555

Re: JE from Designated to Fund Account

You will have to make the correction in Payroll in order to correct the W2s. First, you have to undo any posted transactions made in fund accounting. To make the correction in Payroll, 1) locate the item description for your retire benefits 2) note the type (taxable or employer liability) and the DB...
by JohnDMeyers
Tue Nov 11, 2014 4:59 pm
Forum: Accounting
Topic: reconciling w/difference
Replies: 9
Views: 957

Re: reconciling w/difference

CR 01-1110-000 checking
DB 01-5910-000 misc expense

or

DB 01-1110-000 checking
CR 01-4910-000 misc income
by JohnDMeyers
Tue Oct 14, 2014 5:41 pm
Forum: Accounting
Topic: Music lessons
Replies: 1
Views: 358

Re: Music lessons

The income part I agree with. It would seem to me that the money for lessons is part of his pay, not an expense.
by JohnDMeyers
Thu Oct 09, 2014 9:52 pm
Forum: Accounting
Topic: Procedures/Checklist
Replies: 8
Views: 1054

Re: Procedures/Checklist

We don't have a written procedure list. Here are some thoughts that go along with things you have already listed:

Weekly
pay bills
enter contributions
backup powerchurch

Monthly
reconcile bank accounts
close month
by JohnDMeyers
Tue Oct 07, 2014 1:56 pm
Forum: Accounting
Topic: Budget
Replies: 6
Views: 915

Re: Budget

Are you referring to the Budget Worksheet for calculating next year's budget?

or are you referring to the Budget report that incorporates the income and expense statement information?

The latter allows you exclude accounts with zero budgets. The former does not.
by JohnDMeyers
Sun Oct 05, 2014 9:15 pm
Forum: Accounting
Topic: Contributions not entered but month closed out
Replies: 1
Views: 373

Re: Contributions not entered but month closed out

You can enter the Contributions dated from Jan 2014, but you will have to post them in the current month. The contribution statements you send to the donors will show the correct date. The posting month will only affect your financial reports.
by JohnDMeyers
Mon Sep 22, 2014 10:12 pm
Forum: Accounting
Topic: Stock Portfolio Transfer
Replies: 1
Views: 453

Re: Stock Portfolio Transfer

DB 01-1280-000 Stock Portfolio
CR 01-4290-000 Gifts-in-kind income (non-cash)
by JohnDMeyers
Wed Sep 10, 2014 10:36 am
Forum: Accounting
Topic: Enter New Loan for Building project
Replies: 5
Views: 770

Re: Enter New Loan for Building project

Sure thing!

When you want to pay the interest, use an expense account, like 5870-000 or something.
by JohnDMeyers
Wed Sep 10, 2014 7:02 am
Forum: Accounting
Topic: Enter New Loan for Building project
Replies: 5
Views: 770

Re: Enter New Loan for Building project

I don't think there is a right or wrong way with respect to accounting. You can put the loan in the General Fund or the Building Fund, whichever serves your needs better. It seems to me, putting it in the Building Fund would be better in the sense that your balance sheet will show all of the availab...
by JohnDMeyers
Tue Sep 09, 2014 6:57 am
Forum: Accounting
Topic: Enter New Loan for Building project
Replies: 5
Views: 770

Re: Enter New Loan for Building project

The fact that the money was loaned to the church and expected to be paid back eliminates the possibility of a tax deduction and also eliminates the need for a donor restriction. It is not a charitable contribution. I assume it was loaned on an interest-free basis. Therefore, you have the correct acc...
by JohnDMeyers
Tue Aug 19, 2014 9:17 pm
Forum: Accounting
Topic: Setting up Fund Accounting
Replies: 2
Views: 621

Re: Setting up Fund Accounting

Since you will not be using PowerChurch to enter day-to-day amounts until Jan 1, 2015, I suggest you enter 0.00 for your checking account balance, now, and enter the year-end balance when you are ready to begin using the software. You can manually enter beginning balances in this manner: (checking a...
by JohnDMeyers
Tue Aug 19, 2014 9:11 pm
Forum: Accounting
Topic: Next Years Budget
Replies: 3
Views: 635

Re: Next Years Budget

You cannot enter next year's budget without disrupting budgeting reports for this year. You can reuse accounts after closing this year (make a backup of 2014) and then make changes. You may also consider starting over, by hitting RESET ACCOUNTING. We did this in 2009 and again in 2010 until we got t...
by JohnDMeyers
Thu Aug 14, 2014 10:06 pm
Forum: Accounting
Topic: Registration Fees
Replies: 4
Views: 895

Re: Registration Fees

If the $25 didn't pay for any of the costs of running the event, you may have been able to structure the $25 fee a little differently to make it tax-deductible. For example, advertising a suggested donation of $25 and allowing those who couldn't pay the $25 to run anyway. If you are counting the $25...