Listing Buildings and Land as Assets

[WAGC]

Our church began using PowerChurch last year, effective Jan. '04 (we're on V9 w/the latest update). We are in the process of purchasing a building, and are trying to wrap up the loan process this week (the plan is to close by April 15). Our loan contact wants a balance sheet, listing not only $$ accounts, but also buildings and land as "assets". I've searched through the manual, and online, and can't find any info. on how to do this, or how to enter this information. Help, please! Also, once I enter this info., will I still be able to run a balance sheet that does NOT include land and buildings?

Thank you,
Laurel F.

[Zaphod]

Those are generally entered as asset accounts in Maintain Chart of Accounts. You'd then enter a journal entry to establish the beginning balance for those. You will probably want to consult an accountant to determine exactly what you need to enter. Once you've done this, however, they will show up on your Balance Sheet, and there's no good way to exclude them.

[Jeff]

You may want to consider creating a separate fund for your land and buildings. If you do this you can create a balance sheet that includes these numbers or create a balance sheet that doesn't show the land & building as well.