Setting up Temporary Restricted account

[alise]

I am new to PowerChurch & use the online version. My experience has been in QuickBooks and ACS. I'm using windows 8.1. I am having some problems understanding and setting up a temp restricted account. We have a Faith Promise Fund that is separate from tithes. Faith Promise is then broken into sub-funds. For example, a "undesignated" Faith Promise sub-fund. These funds are used for missions and outreach opportunities as they arise. Another subfund is our Dominican Republic missions trip. Ideally, we should be able to post to the subfunds and yet see an overall fund balance in the main Faith Promise fund. I am having difficulty setting this up and the posting confuses me. I understand that for this fund there will be an equity, income, and release entry. however, when I post, the transaction is looking for a fourth account code. I have no idea what to use there. Also, when I ran a report, there's a column for expenses. Do I set up expense accounts for this fund?

I posted this way:

01-1110-000 bank DE 87.93
01-3240-104 Faith Promise (equity) CE 87.93
01-4840-104 Faith Promise (release) CE 87.93
01-4999-000 Released from restriction DE 87.93

This expenditure was for the Dominican Republican Trip and I want to be able to acknowledge that in the books.
Do I need to set up sub accounts under the equity account?

I think I've read the manual and worked on it so much that I'm all upside down now. Thank you!

[alise]

After a cup of coffee or two, I found page 214 and 215 in the manual. I have started setting up Donor restrictions and thus creating the equity, income, release, and expense accounts for each. I will need to do a bit of clean up on a couple of accounts but since we've only just begun, that should not be difficult. I am still a bit confused on entering transactions though as that fourth entry comes up.

If, for example, I was purchasing airline tickets for a mission trip:

01-1110-000 Checking account
01-6565-001 Missions trip expense
01-4841-003 Missions trip release from restriction
Here power church expects me to come up with the final entry. I think this would be the equity line 01-3241-003. But I guess I'm not caffeinated enough to figure this out.

[Zorak]

It is good to have an understanding of all the moving parts, but even more important it to use the tools that PowerChurch offers to help set up and track the restrictions. We published an article in one of our newsletters that broke all this down into easier to digest steps:

https://www.powerchurch.com/support/229 ... pring-2011