Setting up Fund Accounting

[HP@SAC]

We are just in the process of setting up our newly purchased PowerChurch Software. We are an established church with a lot of accounts, vendors and donors. We would like to take the remainder of the year for the setup and start using it in the new year. My problem is that it seems I need to enter the Balance Sheet totals in order to finish the Fund Accounting set up. Is it not possible to enter all my accounts, etc. and then do that after I have my year end balances? Heidi

[JohnDMeyers]

Since you will not be using PowerChurch to enter day-to-day amounts until Jan 1, 2015, I suggest you enter 0.00 for your checking account balance, now, and enter the year-end balance when you are ready to begin using the software.

You can manually enter beginning balances in this manner:
(checking account)
DB 01-1110-000 checking $1,000
CR 01-3110-000 unrestricted net assets $1,000

(Building asset)
DB 01-1810-000 building asset $50,000
CR 01-3110-000 unrestricted net assets $50,000

(Mortgage principle outstanding)
CR 01-2110-000 building mortgage $10,000
DB 01-3110-000 unrestricted net assets $10,000

etc.

[HP@SAC]

Thank you!