Search found 1338 matches

by JohnDMeyers
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 ---...
by JohnDMeyers
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,...
by JohnDMeyers
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...
by JohnDMeyers
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
by JohnDMeyers
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
by JohnDMeyers
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...
by JohnDMeyers
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...
by JohnDMeyers
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.
by JohnDMeyers
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 ...
by JohnDMeyers
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...
by JohnDMeyers
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...
by JohnDMeyers
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 ...
by JohnDMeyers
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 ...
by JohnDMeyers
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...
by JohnDMeyers
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...