Savings balance.

[waltjs]

Why doesn't the Year To Date column on the Income and Expense statement match the Balance Sheet for Savings?

[NeilZ]

Why doesn't the Year To Date column on the Income and Expense statement match the Balance Sheet for Savings?

The Balance Sheet is not 'per year' but cumulative.

[waltjs]

Thank you. Does the Balance Sheet for Savings reflect the most recent reconciled (Quarterly) Bank Savings Statement? If so, I assume that my reports would depend on the current bank savings balance.

[NeilZ]

Thank you. Does the Balance Sheet for Savings reflect the most recent reconciled (Quarterly) Bank Savings Statement? If so, I assume that my reports would depend on the current bank savings balance.

First off, there is no such report as 'balance sheet for savings'. There is the Balance Sheet report, period. This report can be run against any Accounting Fund, I am guessing that someone setup a saved balance sheet report and that is what you run.

The balance sheet is a 'snapshot' of the of the assets, liabilities, and fund balances as of the month and year that is entered in the report selection window. As such if you ran it today, and there were funds added to the account since the last bank statement, it would not match that statement.

As long as you do a reconciliation against the bank statement when it comes in, and enter all deposits properly into Powerchurch, you can trust that the balance sheet is giving you the correct amounts.

[waltjs]

Thank you Neil. The "my report" pertains to what I convey to our Board not a Power Church generated document. Have a great weekend.