Setting up Power Church

[JohnDMeyers]

The entry above with the equity account is for recording unrealized gains, not income.

The entry I showed way up above is for income.

Use Fund Accounting / Enter Transactions to do either one.

PowerChurch works on cash-basis accounting. You have to enter transactions as they occur. If you paid two payments in 2012, then it works best to show them in 2012.

I'm not sure what you mean by "negative balance on unpaid vendors".

The way to enter the payments is like this:
CR 01-1110-000 checking $200
DB 01-5140-000 insurance $200

This is usually done in Accounts Payable.

If you can tell me what you did, I might be better able to help fix it.

[ForsythUMC]

I paid Insurance check in Dec. But it needed to be posted in January. New insurance policy implemented January 1st. So needed to be posted in January. But Insurance company wanted 2 months payment in Dec up front. Still trying to get this to post and offset the accounts payable deficit that was brought forward into 2013 on balance sheet.

Note::: December payment was on a different accounting program. Church Windows.

carolyn

[JohnDMeyers]

Did you pay one payment in December from PowerChurch, or two?

If you made one payment of $100 in December that you want to "bring forward" in January, then you need to take it out of unrestricted net assets like this:

DB 01-1110-000 checking $100
CR 01-3110-000 unrestricted net assets $100

Then, make your payment in January, like this:
CR 01-1110-000 checking $100
DB 01-5140-000 insurance $100

If you made two payments in December in PowerChurch, change the amounts to $200.

[ForsythUMC]

I have set up accounting. Other staff is in charge of membership & contibutions.

Now they are ready to work on contributions. Instructions say to enter numbers where contributions are going.

Can I go into accounting and add those numbers without having to do set up all over again.

Thanks, carolyn

[JohnDMeyers]

If I understand the question correctly, then, yes, you can reuse your existing accounting numbers in Contributions.

[NeilZ]

If I understand the question correctly, then, yes, you can reuse your existing accounting numbers in Contributions.

To expand on what John said .. when setting up Contribution Funds, the setup screen will ask you for the Bank and Income accounts to use when posting Contributions. The system does have a 'magnifying glass' or 'lookup' button on those entry fields that will let you select from the Chart of Accounts.