Setting up Power Church

[ForsythUMC]

I have tried 5 times to set up the accounting program. Not sure still if it is right. How do I go in and add or adjust entries without having to delete the whole set up.

cem

[JohnDMeyers]

You make entries to accounts in Fund Accounting / Enter Transactions.

If you have specific questions on how to make a particular adjustment, try posting it here.

[NeilZ]

You may want to take the online Fund Accounting 101 & 102 courses offered by Powerchurch. They are well worth the money, and will give you a great overview of setup and usage. Plus the class gives you the opportunity to ask questions live of the Powerchurch staff.

[ForsythUMC]

Thanks for info on classes. We have one February 26 but wanted to have some knowledge before class.
We had planned on starting Jan 1st. But new computers did not get installed completely until middle of January so almost 2 mon ths behind in data entry. Been in accounting before with Quick books for a large business but was pretty much cut and dry. I am trying to figure out how to enter account info but do not
find any info that will help me in how to do it. Demo model I am working with does not affirm that I am getting anhything correctly entered.
Thanks for assistance and advice.
cmoore

[NeilZ]

Thanks for info on classes. We have one February 26 but wanted to have some knowledge before class.
We had planned on starting Jan 1st. But new computers did not get installed completely until middle of January so almost 2 mon ths behind in data entry. Been in accounting before with Quick books for a large business but was pretty much cut and dry. I am trying to figure out how to enter account info but do not
find any info that will help me in how to do it. Demo model I am working with does not affirm that I am getting anhything correctly entered.
Thanks for assistance and advice.
cmoore

You're going to find a whole lot of difference between Quickbooks and Powerchurch.

Powerchurch is double entry accounting, and is based on funds accounting, which unless you're using the version of QB they set up for non-profits, is somewhat different than was is done for a business.

My advice. Take the classes, then restart accounting. Once you have the class under your belt, you'll understand the system much better.

[ForsythUMC]

I have been doing accounting for Church the past 2 years using another program but learning a new program is a challenge. But once I get a handle on PCP I will be ok. The reports and ease of entry
will be better than what we had. I am just a prefectionist and want everything perfect. I just need to be patient. God is still working on me on that one. ha ha
cmoore

[ForsythUMC]

I did some trial posting for bills and made some mistakes. How do I delete those enteries. I did reverse but not all of them were reversed.. In fact I did some several times try to reverse.

Thanks for your help

[JohnDMeyers]

You have to post the transactions after you REVERSE them.

However, if you tried several times, you probably have several entries waiting to post.

Go to Fund Accounting / Modify Unposted Transactions and you will see all the transactions that are waiting to post. You can delete the extra entries.

Then go to Fund Accounting / Post Transactions to post.

[ForsythUMC]

I did that and there was nothing in modify unposted transisitions. I had already posted them. Now what?

Thanks

[JohnDMeyers]

At this point, it's hard to determine where you are without seeing your screen.

Go into Fund Accounting / View Posted Transactions and locate any transactions that you want to REVERSE, including previously REVERSED transactions.

REVERSE them, and post them.

You should be able to clean them up.

Another way to see how "messed up" things are, is to run an Account Activity report for one of the affected accounts. You should see various DB's and CR's of the same amount, if you have posted several transactions that affect one account.

[ForsythUMC]

We have an account with our Church Conference. We received interest in Jan but do not know how to post it into our Foundation account. If I do regular entry what do I put in lines. Also it would not be debit/ credit entry????

Thanks, cem

[JohnDMeyers]

If the "Foundation Account" is a bank account, then this is the Interest entry:
DB 01-1130-000 Foundation bank account
CR 01-4140-000 interest income

[ForsythUMC]

It is not a bank account but a Foundation account. Draws interest but sometimes loses interest
So I do not think it is handled like a bank account.

What do you think?? Would entry be the same?

Thanks, carolyn

[JohnDMeyers]

Are you talking about an account that has market fluctuation?

If that is the case, here is how to show an unrealized gain or loss in the market.

January, account gains $100 (unrealized)
DB 01-1130-000 foundation account $100
CR 01-3120-000 unrealized gain (loss) $100 [this is under unrestricted net assets]

If there is a loss, switch the DB and CR.

[ForsythUMC]

Thanks for info.
Do I enter it through transactions. If so how do I show it as income. Seems like transactions are mainly expenses. It is Missouri Foundation Fund. Several $1,000. So want to get it right


Another question?? I paid an insurance bill in Dec. Since if was for new insurance for this year ( Company wanted 2 months payment up front) I paid bill but did not want it entered until 2013. I therefore carried a negative balance on unpaid vendors at end of 2012. Now I want to enter payment in 2013 so it is on expenses in 2013. Been trying but no success. Just want to make a journal entry.

thanks for you help.