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Designated Funds
Posted: Fri Oct 14, 2016 2:52 pm
by sweettea
I am setting up powerchurch for the first time. Please help me to understand how to put in our designated funds.
We have designated funds in our chart of accounts as 2200 numbers. Power church wants me to put it as a 4000.
Thanks for any help.
Re: Designated Funds
Posted: Sat Oct 15, 2016 2:17 pm
by NeilZ
sweettea wrote:I am setting up powerchurch for the first time. Please help me to understand how to put in our designated funds.
We have designated funds in our chart of accounts as 2200 numbers. Power church wants me to put it as a 4000.
Thanks for any help.
The 2000 - 2999 series of numbers are normally used as LIABILITY accounts. These are funds that the congregation is obligated to pay out such as taxes, pass-thru funds, health insurance deductions/employer contributions, etc.
4000 series are INCOME accounts, I'm going to assume that
designated funds are
Temporarily Restricted Accounts that are only used for designated purposes. I would follow the instructions in the manual (now also available as a PDF in the PCPLUS115 directory) on how to setup
Donor Restrictions starting on page 214.