recording a stock donation for bank reconciliation

[Carol D]

we had a recent stock donation from a church member. how do I record this gift in fund accounting so that i can reconcile the monthly statement?

I have only had disbursements and change in value amounts to reconcile so far.
So usually when i reconcile I only have one disbursement and a change in value number.
I enter this change in value amount through contributions and it posts to a change in value account in fund accounting that I can reconcile.
I enter the check through manual check entry as paid to the church from the stock asset account. So this I can reconcile.

What does the transaction look like to account for the transferred in stock. I need a transaction to reconcile..... I guess it could be another positive change in value transaction. Would that be the way to record it?

Thanks for your help.

[NeilZ]

we had a recent stock donation from a church member. how do I record this gift in fund accounting so that i can reconcile the monthly statement?

I have only had disbursements and change in value amounts to reconcile so far.
So usually when i reconcile I only have one disbursement and a change in value number.
I enter this change in value amount through contributions and it posts to a change in value account in fund accounting that I can reconcile.
I enter the check through manual check entry as paid to the church from the stock asset account. So this I can reconcile.

What does the transaction look like to account for the transferred in stock. I need a transaction to reconcile..... I guess it could be another positive change in value transaction. Would that be the way to record it?

Thanks for your help.

Um ... why would this show up in the bank reconciliation? Did you deposit any funds in the bank? Was there a debit from the bank account?

[Carol D]

It shows on the statement from the investment account that I reconcile each month.

begin bal. 83996.87
credits ----
debits (6164.81)
sec. trans 6270.00

net credits/debits/transfers 105.19

change in value (3,186.08)

ending bal. 80,915.98

I have never had a sec transfer before so usually I have the debit amount because I record through manual check entry the check that is made to the church as disbursement -6164.81 from the investment account(it is fund 03) and I record through contributions the change in value amount of -3186.08. I then would reconcile these two transactions. So far since I never had a stock transfer the disbursement amount equaled the net credits/debits/transfers. Now I have the transfer so I assume I should have a transaction to reconcile for the 6270.00 transfer amount.

[NeilZ]

It shows on the statement from the investment account that I reconcile each month.

begin bal. 83996.87
credits ----
debits (6164.81)
sec. trans 6270.00

net credits/debits/transfers 105.19

change in value (3,186.08)

ending bal. 80,915.98

I have never had a sec transfer before so usually I have the debit amount because I record through manual check entry the check that is made to the church as disbursement -6164.81 from the investment account(it is fund 03) and I record through contributions the change in value amount of -3186.08. I then would reconcile these two transactions. So far since I never had a stock transfer the disbursement amount equaled the net credits/debits/transfers. Now I have the transfer so I assume I should have a transaction to reconcile for the 6270.00 transfer amount.

FWIW ... I've not seen that type of transaction done for any disbursement from a mutual or stock fund. Normally it would be done using a Funds Accounting transaction entry. is the 6270.00 an increase in the stock or mutual fund?

The way I do it, and the way others have advised, is listed in this topic:

https://www.powerchurch.com/forum/viewt ... ent#p38115

I'm not sure if I can give you an good advice on this. I would consult an accountant to see what they recommend, there may be one in your congregation you could ask.