Search found 1338 matches
- Sun Jun 08, 2014 9:18 pm
- Forum: Accounting
- Topic: change release account?
- Replies: 3
- Views: 788
Re: change release account?
Oh well. No easy fix. It is a little hard to read your columns, because this forum squeezes out spaces. I am going to use the third column in to figure this out. --------------------------- 01-4240-104 $ 855.00 01-4401-104 $ 685.01 01-4840-104 $(324.31) Total 104: $1,215.70 01-5512-104 $2,052.70 ---...
- Sun Jun 08, 2014 7:13 am
- Forum: Accounting
- Topic: change release account?
- Replies: 3
- Views: 788
Re: change release account?
Before you do anything else, there may be a simple fix. 5512-104 should close-to 01-3110-000 unrestricted net assets. I'm guessing you have it closing to 01-3240-104 (or whatever account number you are using) temporarily restricted net assets. If so, and if you change the equity account on 5512-104,...
- Sat Jun 07, 2014 6:24 pm
- Forum: Accounting
- Topic: Restricted Release in the Income & Expense statement
- Replies: 10
- Views: 2522
Re: Restricted Release in the Income & Expense statement
One frustration is that income and expenses are separated on the Income and Expense Report. That's true for most accounting softwares, not just PowerChurch. The $15,000 in income appears at the top (in the income section) of the Income and Expense Report. The $18,000 appears at the bottom (in the ex...
- Mon Jun 02, 2014 7:29 pm
- Forum: Accounting
- Topic: Prepaid Debit Card - Accounting
- Replies: 9
- Views: 2075
Re: Prepaid Debit Card - Accounting
Second possibility:
If the pre-paid card is actually part of the checking account:
Load up card:
CR 01-1110-000 checking $200.00
DB 01-1110-005 pre-paid card $200.00
Pay for $5.00 item:
CR 01-1110-005 pre-paid card $5.00
DB 01-5610-000 item expense $5.00
If the pre-paid card is actually part of the checking account:
Load up card:
CR 01-1110-000 checking $200.00
DB 01-1110-005 pre-paid card $200.00
Pay for $5.00 item:
CR 01-1110-005 pre-paid card $5.00
DB 01-5610-000 item expense $5.00
- Mon Jun 02, 2014 7:27 pm
- Forum: Accounting
- Topic: Prepaid Debit Card - Accounting
- Replies: 9
- Views: 2075
Re: Prepaid Debit Card - Accounting
Load up card:
CR 01-1110-000 checking $200.00
DB 01-1230-000 pre-paid card $200.00
Pay for $5.00 item:
CR 01-1230-000 pre-paid card $5.00
DB 01-5610-000 item expense $5.00
CR 01-1110-000 checking $200.00
DB 01-1230-000 pre-paid card $200.00
Pay for $5.00 item:
CR 01-1230-000 pre-paid card $5.00
DB 01-5610-000 item expense $5.00
- Mon Jun 02, 2014 12:54 pm
- Forum: Accounting
- Topic: How to show giving that isn't monetary
- Replies: 5
- Views: 1479
Re: How to show giving that isn't monetary
You will need an asset under furniture and equipment that you can use for kitchen utensils. Something like 01-1740-000 kitchen equipment You will also need to set up an income account for gifts-in-kind Something like 01-4180-000 gifts-in-kind Then, go in Contributions / Setup / Maintain List of Cont...
- Tue May 27, 2014 4:28 pm
- Forum: Accounting
- Topic: reconciling a bank statement
- Replies: 2
- Views: 729
Re: reconciling a bank statement
If the $718.50 is the amount of the contribution, and the contribution is in the reconciliation window, here's what I would do: Enter a date, like April 1 (instead of April 30, for example), put in $718.50 as the bank statement amount, go to the next screen and clear the $718.50 in the reconciliatio...
- Wed May 21, 2014 10:22 am
- Forum: Accounting
- Topic: New Construction
- Replies: 5
- Views: 1161
Re: New Construction
It was a typo. I meant 6130.
- Wed May 21, 2014 7:57 am
- Forum: Accounting
- Topic: New Construction
- Replies: 5
- Views: 1161
Re: New Construction
You need to keep things in the same fund. What you outlined won't work. (but it's close!) You have the correct procedure for releasing temporarily restricted money. What we have done is create Fund 03 for building expenses, and transfer money to it from Fund 01. The release comes when you make this ...
- Sat May 17, 2014 1:18 pm
- Forum: Accounting
- Topic: Changes in Equity Report
- Replies: 3
- Views: 859
Re: Changes in Equity Report
When you directly transact an equity account, your transaction will only appear on the Balance Sheet. By using Income and Expense accounts that close-to an equity account, the transaction appears partly on the Balance Sheet,and partly on the Income-and-Expense Statement for the duration of that year...
- Tue May 06, 2014 10:39 pm
- Forum: Accounting
- Topic: Balance Sheet
- Replies: 12
- Views: 2281
Re: Balance Sheet
Without seeing everything, to suggest anything is a shot in the dark. If you inherited a problem, then my recommendation would be to start over. Make backups, then use File / Preferences / Accounting Setup / RESTART ACCOUNTING. You will need your current bank balances, and outstanding checks and dep...
- Tue May 06, 2014 2:29 pm
- Forum: Accounting
- Topic: Balance Sheet
- Replies: 12
- Views: 2281
Re: Balance Sheet
It looks like you may have made an incorrect entry for the beginning balance. Normally it is something like this: DB 01-1110-000 checking $247,482.49 CR 01-3110-000 unrestricted net assets $247,482.49 You may have done this: CR 01-1110-000 checking $247,482.49 DB 01-3110-000 unrestricted net assets ...
- Sun May 04, 2014 6:04 pm
- Forum: Accounting
- Topic: Negative balance in designated funds
- Replies: 4
- Views: 1552
Re: Negative balance in designated funds
The way you have it laid out will work. It is totally appropriate for your situation, and it will add $500 to your Upgraded Nursery Fund, which will total zero. The only other consideration is if this is a temporarily restricted income account. If it closes to 01-3110-000, it is unrestricted. If it ...
- Fri May 02, 2014 7:33 pm
- Forum: Accounting
- Topic: Negative balance in designated funds
- Replies: 4
- Views: 1552
Re: Negative balance in designated funds
First of all, I have been using PowerChurch for about 25 years, and I don't have an accounting background! It'll grow on you after a while. :wink: You can use the transfer accounts to make a journal entry. I usually create the same transfer account number in each fund, so that they cancel out when y...
- Thu Apr 17, 2014 12:39 pm
- Forum: Accounting
- Topic: Insurance Check
- Replies: 1
- Views: 528
Re: Insurance Check
I think I would use Temporarily Restricted accounts just to make the tracking easier. It may not technically be a restricted situation, but it is pretty close. In Fund Accounting / Setup / Maintain List of Donor Restrictions, the menu system will guide you through the setup of each account. You will...