Matching Check Dates with bank statment

[Treasurer@Redeemer]

Hello,

I want to change the dates on A/P checks in Power church to match the dates on the bank statement before I post them. Then I want to post the checks individually since I have to wait for a check to clear before I can post.

What is the process to accomplish this?

Thanks,
Mark

[NeilZ]

Hello,

I want to change the dates on A/P checks in Power church to match the dates on the bank statement before I post them. Then I want to post the checks individually since I have to wait for a check to clear before I can post.

What is the process to accomplish this?

Thanks,
Mark

Mark .. one question, why ??

The date they arrive at the bank can be days to weeks after they were sent out. Since churches run on a cash basis, you should always use the date you paid the bill as the date that the money was withdrawn from the bank even though the bank had not yet seen them.

[Treasurer@Redeemer]

There are two processes to reconciling a bank account.

1) Make sure all the checks and deposits are posted in PowerChurch (Everyone does this part and thinks they have completed reconciliation.)
2) Reconcile the Power Church bank balance with the bank statement balance. If I can match dates with the bank statement I can minimize the number of outstanding checks and ensure the balances match.

Thanks,
Mark

[NeilZ]

There are two processes to reconciling a bank account.

1) Make sure all the checks and deposits are posted in PowerChurch (Everyone does this part and thinks they have completed reconciliation.)
2) Reconcile the Power Church bank balance with the bank statement balance. If I can match dates with the bank statement I can minimize the number of outstanding checks and ensure the balances match.

Thanks,
Mark

Mark ...

As long as the Payroll and A/P are posted to Funds Accounting, then FA transactions posted, you're right that's half the battle.

The other side of the coin is reconciliation. Isn't easier to match check numbers ?? I've been doing this with Powerchurch for years, and since that's the way the bank puts that data on the statement, using the check number just means I keep hitting the space bar until the check number sequence jumps from say 1020 to 1022. Trying to do that by date, may be you have more than one check which cleared on a date at the bank, and you then have to search for the correct check anyway.

In other words, you're adding work for yourself.

[Treasurer@Redeemer]

Yes I am making more work for myself. The check dates have to match in order for the account /bank balances to match.

I replaced the previous treasurer and the balances do not match. This is my method to ensure they do.

I have used this process in many other accounting programs and it works. How to do this in PowerChurch is a challenge.

Mark

[NeilZ]

Yes I am making more work for myself. The check dates have to match in order for the account /bank balances to match.

I replaced the previous treasurer and the balances do not match. This is my method to ensure they do.

I have used this process in many other accounting programs and it works. How to do this in PowerChurch is a challenge.

Mark

Powerchurch is not an Accrual accounting system. It is a cash basis, funds accounting system only, which is why you're having problems. There is no easy way to do this in the program.

I'm assuming you're talking about the balance in the checking account (account xx-1110-00) in the program. The recommendation often given in this case is to start with the Bank Statement Balance at a time about three months back.

[JohnDMeyers]

Mark:

Does your bank statement list the checks by check number order as well as by date? Most banks do this, I think. Some online banks may not.

If so, can't you use the list of checks sorted by check order to do your reconciliation?

[Treasurer@Redeemer]

I called Power Church and they walked me through the process.
1) Accounting / Fund Accounting / Modify Unposted Transactions
Change the dates on the transactions and save

2) Accounting / Fund Accounting / Post Transactions /check the month / click on "advanced button"
Select the updates transactions for posting and post

My check dates will match my bank statement dates when I reconcile.

Thanks,
Mark