Search found 1338 matches
- Wed Dec 31, 2014 1:53 pm
- Forum: Accounting
- Topic: Deleting Fund Accounting data
- Replies: 9
- Views: 2755
Re: Deleting Fund Accounting data
Another option is to choose RESTART ACCOUNTING, which essentially puts the fund account back to the original install conditions.
- Tue Nov 18, 2014 4:05 pm
- Forum: Accounting
- Topic: JE from Designated to Fund Account
- Replies: 4
- Views: 1934
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...
- Tue Nov 11, 2014 5:07 pm
- Forum: Accounting
- Topic: JE from Designated to Fund Account
- Replies: 4
- Views: 1934
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...
- Tue Nov 11, 2014 4:59 pm
- Forum: Accounting
- Topic: reconciling w/difference
- Replies: 9
- Views: 2435
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
DB 01-5910-000 misc expense
or
DB 01-1110-000 checking
CR 01-4910-000 misc income
- Tue Oct 14, 2014 6:41 pm
- Forum: Accounting
- Topic: Music lessons
- Replies: 1
- Views: 821
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.
- Thu Oct 09, 2014 10:52 pm
- Forum: Accounting
- Topic: Procedures/Checklist
- Replies: 8
- Views: 1960
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
Weekly
pay bills
enter contributions
backup powerchurch
Monthly
reconcile bank accounts
close month
- Tue Oct 07, 2014 2:56 pm
- Forum: Accounting
- Topic: Budget
- Replies: 6
- Views: 1786
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.
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.
- Sun Oct 05, 2014 10:15 pm
- Forum: Accounting
- Topic: Contributions not entered but month closed out
- Replies: 1
- Views: 1012
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.
- Mon Sep 22, 2014 11:12 pm
- Forum: Accounting
- Topic: Stock Portfolio Transfer
- Replies: 1
- Views: 1026
Re: Stock Portfolio Transfer
DB 01-1280-000 Stock Portfolio
CR 01-4290-000 Gifts-in-kind income (non-cash)
CR 01-4290-000 Gifts-in-kind income (non-cash)
- Wed Sep 10, 2014 11:36 am
- Forum: Accounting
- Topic: Enter New Loan for Building project
- Replies: 5
- Views: 2246
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.
When you want to pay the interest, use an expense account, like 5870-000 or something.
- Wed Sep 10, 2014 8:02 am
- Forum: Accounting
- Topic: Enter New Loan for Building project
- Replies: 5
- Views: 2246
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...
- Tue Sep 09, 2014 7:57 am
- Forum: Accounting
- Topic: Enter New Loan for Building project
- Replies: 5
- Views: 2246
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...
- Tue Aug 19, 2014 10:17 pm
- Forum: Accounting
- Topic: Setting up Fund Accounting
- Replies: 2
- Views: 1142
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...
- Tue Aug 19, 2014 10:11 pm
- Forum: Accounting
- Topic: Next Years Budget
- Replies: 3
- Views: 1223
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...
- Thu Aug 14, 2014 11:06 pm
- Forum: Accounting
- Topic: Registration Fees
- Replies: 4
- Views: 1451
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...