Search found 51 matches

by Shelley
Wed Aug 03, 2011 2:42 pm
Forum: Accounting
Topic: How to move money between checking accounts
Replies: 6
Views: 739

Re: How to move money between checking accounts

Thank you so much :)
by Shelley
Wed Aug 03, 2011 11:24 am
Forum: Accounting
Topic: How to move money between checking accounts
Replies: 6
Views: 739

Re: How to move money between checking accounts

We had checking account #2 AND it was entered into PCP at set-up. At set-up it was in checking account #2 sub-account "Youth." We wrote a check from checking account #2 and deposited it in checking account #1. I recorded that transaction like this: CR Checking Acct #2 sub-account youth DB Checking A...
by Shelley
Wed Jul 20, 2011 4:06 pm
Forum: Accounting
Topic: How to move money between checking accounts
Replies: 6
Views: 739

Re: How to move money between checking accounts

The income came in prior to the set up of PowerChurch Plus and has been sitting in a seldom used checking account. When the check was written drawing on Checking #2 and deposited into Checking #1 all I did was : Credit Checking #2 for $$ Debit Checking #1 for $$ Can I do a journal entry: Debit Unres...
by Shelley
Mon Jul 11, 2011 9:40 am
Forum: Accounting
Topic: How to move money between checking accounts
Replies: 6
Views: 739

How to move money between checking accounts

We have one fund with two checking accounts. We needed to move funds from one checking account to the other and wrote a check to do so. The purpose is to move money from an unused sub-account Youth into the general fund for the Youth department to use. Credit Checking #2 sub-account Youth for $$ Deb...
by Shelley
Thu Jun 30, 2011 3:51 pm
Forum: Accounting
Topic: How to handle unrestricted special contribution?
Replies: 14
Views: 1435

Re: How to handle unrestricted special contribution?

I will keep you posted. :)
by Shelley
Fri Jun 24, 2011 11:05 am
Forum: Accounting
Topic: How to handle unrestricted special contribution?
Replies: 14
Views: 1435

Re: How to handle unrestricted special contribution?

Well, that is just too cool and certainly sounds like the solution I am seeking. Thank you for the explanation and thank you Jeff for bringing it up.

Blessings,
Shelley
by Shelley
Fri Jun 24, 2011 10:17 am
Forum: Accounting
Topic: How to handle unrestricted special contribution?
Replies: 14
Views: 1435

Re: How to handle unrestricted special contribution?

I am back to leaving the collections for youth activities and fundraisers as income. It is is just more logical to me. So, I haven't changed anything yet (money collected for youth activities is currently in an income account), but I am still running into the problem of a way to easily show the deac...
by Shelley
Thu Jun 23, 2011 3:51 pm
Forum: Accounting
Topic: How to handle unrestricted special contribution?
Replies: 14
Views: 1435

Re: How to handle unrestricted special contribution?

Thank you all so much for continuing this discussion. I came back to the forum because I am very dissatisfied with the way I am doing it now. I have an income account called "Youth Collections" where I post all the money collected for various youth activities. Debbie's discussion of the ease of use ...
by Shelley
Mon Jun 06, 2011 3:17 pm
Forum: Accounting
Topic: How to handle unrestricted special contribution?
Replies: 14
Views: 1435

Re: How to handle unrestricted special contribution?

Thank you. So, if I am reading you correctly, I am going to have an account in income called "Youth" and just show it as income like I do "General Contributions?" Simple enough. The deacons will just have to train themselves to look for income and expenses in two different places.

Blessings,
Shelley
by Shelley
Fri May 27, 2011 11:18 am
Forum: Accounting
Topic: How to handle unrestricted special contribution?
Replies: 14
Views: 1435

How to handle unrestricted special contribution?

I know you all must be tired of me by now. :) I am trying to determine the best way to handle funds that come in from members of the youth group to pay for their part of trips and activities. I need to keep track of how much is collected and apply it accordingly to activities in the Youth account. T...
by Shelley
Wed May 25, 2011 12:31 pm
Forum: Accounting
Topic: Recording Temporarily Restricted Transaction ??
Replies: 10
Views: 624

Re: Recording Temporarily Restricted Transaction ??

Yes! Thank you for your patience. What a simple solution that was. :)
by Shelley
Wed May 25, 2011 11:43 am
Forum: Accounting
Topic: Recording Temporarily Restricted Transaction ??
Replies: 10
Views: 624

Re: Recording Temporarily Restricted Transaction ??

John, I so appreciate your patience with me. We will get through this and be on the same page soon. :) When you receive $100 into your church, you need to do this: DB Checking #1 $100 CR Income account $100 Move $100 from Checking #1 to Checking #2 CR checking #1 $100 DB checking #2 $100 We are good...
by Shelley
Wed May 25, 2011 11:17 am
Forum: Accounting
Topic: Recording Temporarily Restricted Transaction ??
Replies: 10
Views: 624

Re: Recording Temporarily Restricted Transaction ??

No it doesn't. I'm sorry, I am not being clear. An expense account is probably not what I want either. Let me tell you what I need without my non-accountant preconceived notions involved in the equation. I just finished the set-up process and our first month is April. April is also the beginning of ...
by Shelley
Wed May 25, 2011 9:30 am
Forum: Accounting
Topic: Recording Temporarily Restricted Transaction ??
Replies: 10
Views: 624

Re: Recording Temporarily Restricted Transaction ??

Ok. Now that we have clarified that and I have recorded a credit in Checking #1 and a debit in Checking # 2, what transaction do enter to show a credit balance in the Emergency Fund account I just created?
by Shelley
Wed May 25, 2011 8:39 am
Forum: Accounting
Topic: Recording Temporarily Restricted Transaction ??
Replies: 10
Views: 624

Re: Recording Temporarily Restricted Transaction ??

I could very easily be persuaded not to do this. :) Your comments sums it up very nicely. The idea of restrictions on donations is to honor donor requests and still give tax-deductible receipts for the contributions. Therefore, the mechanism to setup and disburse restrictions is tied to the contribu...