bank accounts

[ardisann]

I started using this program in 2005, but was mostly concerned at that time of setting up the contributions so I would be able to do year end reports for the people, and I pretty much have that mastered..
I've decided to finish setting up the rest and am confused with the accounting. Each of our depts have their own bank account.. youth, tithing,sunday school, tape room, and gen. checking... I am not sure how to set up the accounts and funds... are the checking accts and funds the same, or how do I set these up so they will balance. and next question is how do I enter transactions.. I have read and read the instructions, but now am more confused than ever.. I set up accounts and put in a beginning balance, but will that be in the checking or just the fund..
please help ardis

[Zaphod]

A bank account is just an account (specifically, an asset account). A fund (in fund accounting) is a collection of accounts (asset, liability, equity, income, expense) used for a particular purpose.

It's possible to have a single accounting fund, but have multiple bank accounts. It's also possible to have a single bank account that's divided across multiple funds. As long as the four-digit major account number is the same, PowerChurch recognizes the account as the same in each fund.

You may want to read throught the accounting overview in the PowerChurch manual. If you still have questions after that, it may be helpful to consult an accountant. PowerChurch uses standard double-entry fund accounting practices, so any accountant should be able to help.