Charts of Account

[martha]

I recently converted to PCP V9. I am setting up my charts of account. In addition to entering the account number and description, just below is this message, "This account is used in the following funds." there is also a drop down menu containg the fund accounting two number or two letters description to choose from. (Honestly, I have never understood the relation between the fund accounting numbers and the charts of account.) Question: How do you determine which fund name and number is to be entered there?
Thank You
Martha

[emellesee]

I recently converted to PCP V9. I am setting up my charts of account. In addition to entering the account number and description, just below is this message, "This account is used in the following funds." there is also a drop down menu containg the fund accounting two number or two letters description to choose from. (Honestly, I have never understood the relation between the fund accounting numbers and the charts of account.) Question: How do you determine which fund name and number is to be entered there?
Thank You
Martha

The way we have PowerChurch set up, we have Fund 01 set as our general fund and then we use other numbers for designated funds (short-term missions flow-through, benevolent fund, etc.). When you set up an account, you can choose to make it part of all of the funds, or just some of them.

For instance, our main bank account is used in all funds, but the benevolent fund expense line is only used in the benevolent fund and so I wouldn't select fund 01 (our general fund) for that expense line.

[martha]

Thank You.