User Support Forum

We have used PowerChurch since 2007 (at least) and have been thru a series of volunteer Treasurers and several administrators - all with various levels of accounting experience and understanding. We have now formed a Financial Systems Management Team to review our Balance Sheets, Funds, and Chart of Accounts and "get our books in order."

We switched banks in October of 2017. Our new Bank GL Accounts are reconciled. We have 5 accounts from the "old bank" that still show funds in them. How do we get rid of these accounts?
i.e. Regions - 1278 Operating (01) 01-1110-000 $2,476.93 Balance - should be -0- and can't transfer to new bank GL because it's in balance

Will have more questions coming soon after a bit more research!

Martha
UUUS Treasurer

UUUSTreasurer wrote:We have used PowerChurch since 2007 (at least) and have been thru a series of volunteer Treasurers and several administrators - all with various levels of accounting experience and understanding. We have now formed a Financial Systems Management Team to review our Balance Sheets, Funds, and Chart of Accounts and "get our books in order."

We switched banks in October of 2017. Our new Bank GL Accounts are reconciled. We have 5 accounts from the "old bank" that still show funds in them. How do we get rid of these accounts?
i.e. Regions - 1278 Operating (01) 01-1110-000 $2,476.93 Balance - should be -0- and can't transfer to new bank GL because it's in balance

Will have more questions coming soon after a bit more research!

Martha
UUUS Treasurer

First off .. where did the funds for the new bank account come from? Did they come from the 5 old accounts? How did you move the funds? Did you write a check or EFT the funds? Did you enter a transaction showing that check or EFT action?

I assume that the 5 accounts from the old bank are closed. If so, to clear the balances in PowerChurch for your example, input an entry in Fund Accounting that debits the Unrestricted Net Assets account (01-3110-000) and credits the checking account (01-1110-000) for $2,476.93.