Changing Banks

[Tara]

We are fairly new to power church and our accounts were already set up for us in Power Church. We are switching to a new bank and I need to know how I go about doing this in Power Church. Any help is greatly appreciated.

[Matt]

You just need to set up a new asset account for your new bank account. For example, if your current checking account is 1110-000 then you would set up a new account such as 1120-000.

The challenge you will have is that during the switchover you'll need to be careful as to which account you are posting to when posting transactions in the system, as you will likely need to be posting to both accounts for a short period of time. Once you have switched over to using the new account you will need to go into the Accounts Payable, Payroll, and Contributions modules and change the default checking account on the Vendor records, the Payroll Items, and the Contribution Funds to the new account. You will also need to go into the Accounting Setup options and change the default bank account to the new account. To identify all the places where the account number needs to be changed run the Account Dependencies Report in Fund Accounting for the old account.

[Tara]

Thank you so much for your help. Is the Asset account the only thing I will need to add? Will I need to add or change anything else?

[NeilZ]

Thank you so much for your help. Is the Asset account the only thing I will need to add? Will I need to add or change anything else?

Matt has listed all the areas that should be checked and adjusted. You should be good to go.