User Support Forum

I was thinking some more about this and I wondered if It could be treated the same as a security deposit? Listed under other assets? Is loaned money an asset or a negative liability? I'm thinking more an asset or is it a distinction without a difference?

A local christian camp has approached individuals about loaning them money. The benefit to them is better interest rate than a bank loan. The benefit to the loaners is better interest rate than banks are giving. Our church is participating in loaning them money. Our pastor is on the board. I searche...

I'm the treasurer for our church. Bills are put on the counter of our accounting room. I usually come into the church to write checks twice a week. Usually on Wed. and either Sat. or Sun. Checks require two signatures which sometimes delays when a bill gets paid. Then I enter them in Power Church tw...

ewinzer wrote:we just had one problem pastor that i fixed. Thanks for all your help.

I thank you for the laugh I just had from reading your post. I'm sure a lot of churches would like your answer for how to fix a problem pastor! Chuckle.

Eugene

Another common reason is transactions that were entered during the Accounting Setup Assistant as "outstanding" as of the starting point of the Accounting system in PowerChurch. Those are transactions that are not actually on the books, affecting balances. They are only there to allow you to reconci...

kcm wrote:I was working in accounting and my computer shut off.

Do you use an uninterruptable power supply? It would keep your computer from shutting down due to a power glitch. Using one has saved me a few times.

Eugene

In high school I did 35 wpm at the end of a semester of typing class. That was a few - 33- years ago. Seems like it's been downhill ever since. Too many fatfingers.

Neil,
I see we think alike. I just type slower.

I write checks manually but in your shoes here is what I would do. Something this forum has taught me is whenever you're going to try something, do a backup first. For your case I would do a backup of accounting only for the moment. Then make a trial invoice and cut a check for it printing it on a s...

That transaction will still be out of balance since the Electric bill of $450 plus the deposit of $165 adds up to $615 not $565. Ummm yeah sure I can add 2+3=4 :oops: :) And I have an AAS in mechanical engineering technology. :wall: I did a backup and did as JohnDMeyers suggested but missed one thi...

I had to change the name of our church with the 'electric company. Since it was because we are a new church from the merger of two churches, we have to pay a deposit., I combined an electric bill (450.00) with a security deposit payment (165.00) to write one check. I'm going by memory so I don't hav...

JohnDMeyers

I forgot to say thank you.

No. Your church doesn't pay federal withholding. Your employees pay it out of their pay. Technically, it would show up on their "income and expense statement" at their home. Ahhh, now I understand. Maybe I should take a beginning accounting class. My vocation is a CNC machinist. Accounting concepts...

Your payroll item for Fed w/h should be like this: DB 01-1110-000 checking CR 01-2810-000 Fed W/H (liability) Your Vendor account for your bank (or whoever you pay Fed W/H to): CR 01-1110-000 checking DB 01-2810-000 Fed W/H (liability) So I don't put anything under expenses? Don't they need to show...

Shouldn't liabilities drip to zero when they are paid? The only liabilities our church has are taxes withheld. How do I make the report zero out liabilities when paid? We are using Version 11.1.