Income and Expense

[JGraves]

We are PC 11.5 users. Our bookkeeper did an electronic transfer of funds from our Capital improvement account (savings) to our general fund account to cover the cost of repairs, etc to our church last month. When we issued the transfers in Power Church we went to Fund accounting >enter transactions>credit cap improvement>debit general funds.) It did however, decrease the account balance in Cap Imp on the balance sheet but it did not increase the Income statement. Our bank statement reflects $3706.00 more than our Income Expense report shows. What can we do to resolve this matter?

[NeilZ]

We are PC 11.5 users. Our bookkeeper did an electronic transfer of funds from our Capital improvement account (savings) to our general fund account to cover the cost of repairs, etc to our church last month. When we issued the transfers in Power Church we went to Fund accounting >enter transactions>credit cap improvement>debit general funds.) It did however, decrease the account balance in Cap Imp on the balance sheet but it did not increase the Income statement. Our bank statement reflects $3706.00 more than our Income Expense report shows. What can we do to resolve this matter?

I take it the 'General Funds' is the checking account ?? It should not have increased anything under your income accounts, the only thing that should have increased was your checking account.

Here's what should have happened, assuming that the savings and checking account are all under the general fund:

01-1110 Checking
01-1120 Savings

Debit - 01-1110
Credit - 01-1120

That said, your Inc/Exp Report should not be used to track what is in your bank account. There really is no correlation between the two.

[JGraves]

thanks