User Support Forum

Okay...I am trying to get my accounting funds set up (properly) and all I seem to have done is gone around in circles and gotten myself all confused! let me explain, and hopefully my question will make sense!

With our old accounting program, the offerings were all deposited to our main chequing account, and then any Designated Funds were transferred to our Designated Funds account. This would allow me to keep the funds separate and so I would know exactly how much was in each fund (we have approximately 30 at the moment). At the end of every month, I go into the bank to physically change the money over from one account to the other. I have two bank statements...one for our Current General account, and one for our Designated Funds account.

Here is my question:

With PowerChurch, should I be setting up separate funds for each of my Designated Funds, or is there a better way to do it that will still allow me to reconcile the bank statement for that account?

I tried getting the funds set up last night, however when I tried to start entering envelope givings, I was getting nowhere, and I don't think I have the funds set up correctly.

Any help anyone could give me would be greatly appreciated!

God Bless!

You may want to consider closing the designated funds account and transferring the balance into your regular checking account. This will make your job of setting up the funds and accounts easier. By setting up and using restricted accounts in Fund Accounting you can keep the fund balances in all 30 of your funds segregated so you really don't need the two accounts to accomplish this.

In the Contributions module you will want to set up separate funds for all 30 funds. However, the debit account on all 30 can be the same checking account if you decide to consolidate your checking accounts.

Thanks for answering back Matt, however closing the Des. Funds account is not an option for us. This money must be kept separate, both in the books and the bank as the money has been given for specific ministries and must be available when needed. We used to keep all this money in one account and that created problems.

I did have a brainwave the other day about this though...maybe someone knows if this will work.

Can I set up funds for each item and have them deposited to my main chequing account, and then do a transfer to the other account? This is basically how it's been done on the old program, and I am wondering if it will still work for me. This way, when my bank rec. comes in, I have something to check it against.

Anyone know if this will work? Is there anyone else with the same set-up as us where there is more than one bank account?

Thanks!

That'll work. Understand the need to keep the monies segregated.

Thanks Matt! You've been a great help!

Julie wrote:Can I set up funds for each item and have them deposited to my main chequing account, and then do a transfer to the other account? This is basically how it's been done on the old program, and I am wondering if it will still work for me. This way, when my bank rec. comes in, I have something to check it against.

Anyone know if this will work? Is there anyone else with the same set-up as us where there is more than one bank account?

Thanks!

Julie,

PC+ will support multiple fund accounting easily. Well, I guess "easily" can be a misnomer. You basically have to set your chart of accounts up in duplicate (to some extent).

We run five funds and have a number of bank accounts. A good example is our building fund and respective bank account. There is a separate chart of accounts for the building fund and monies received from the congreagation that are designated for the building fund are automatically posted to that fund through the contributions module.

We can always produce reports just for one fund. So, contributions, income & expense, balance reports can be readily produced.

Hope this helps,
Jeff