User Support Forum

I don't know where to start. I'm confused about entering new transactions. Our bank statement has EFT's and online $ transfers to our building fund money market account (01-1220) which is an asset. When we do a bank transfer from our default bank acct. (01-1110) or an electric fund transfer, which account do I debit and which one do I credit?
I guess I need Accounting 101.
All of my expense funds are listing as credit to bank and debit to the fund charged (i.e. church phones, postage, etc.)

Any help I can get with this would be greatly appreciated.

Shouldn't this be under the Accounting catagory ??

It should be. But the powerchurch manual doesn't say much about "Accounting concept". I've been told if you want to credit an account you have to put it in as a debit, etc. I just want everything going in and coming out of the right place. I just a little confused about it.

If you transfer money from your bank account to your money market account you should post the following entry:

Debit 01-1220 Money Market Account
Credit 01-1110 Bank Account