User Support Forum

When I run a specific account for 2017, January thru December, I show a current balance of $1695. If I run the same account for January 2016 thru December 2017, I show a balance of $5400. Which is correct? Does Power Church carry account balances forward from one year to the next?
Thank you

morningsideumc wrote:When I run a specific account for 2017, January thru December, I show a current balance of $1695. If I run the same account for January 2016 thru December 2017, I show a balance of $5400. Which is correct? Does Power Church carry account balances forward from one year to the next?
Thank you

A lot depends on the type of account you're running the report against. Asset accounts will show a beginning and an ending balance. Whereas expense accounts will show the totals of all activity between those dates.

I am running an Account Activity report in Fund Accounting

morningsideumc wrote:I am running an Account Activity report in Fund Accounting

I believe that report only shows the totals for the period you're running the report against.

morningsideumc wrote:I am running an Account Activity report in Fund Accounting

As Neil said, it all depends on the type of account you are looking at.

The Account Activity report does show a beginning balance, list of debit/credit amounts, and ending balance, but Balance Sheet accounts (assets, liabilities, equity) will show a balance carried forward from year to year, whereas Income & Expense accounts start each year with a zero balance and just measure the amount of activity in each period.

I'm probably being OCD but, just to verify, the Balance Sheet will show the balance carried forward, minus debits or payments from the account... correct?

morningsideumc wrote:I'm probably being OCD but, just to verify, the Balance Sheet will show the balance carried forward, minus debits or payments from the account... correct?

Not exactly ...

Here's an accounting definition:

"A balance sheet is a financial statement that summarizes a company's assets, liabilities and shareholders' equity at a specific point in time."

It will reflect the assets (usually any bank accounts), liabilities & net assets (fund balance) AS OF the date the report is run. If you haven't posted transactions, and do not select the 'include unposted transactions' they will not be included.

Don't think of it as 'carried forward' balances, the balance sheet shows the state of the account as it is today. So if the assets portion of the report shows 100000, and the year to date income in the I&E shows 50000, yes it has previous income listed.

What is the cause of your worry or misunderstanding?