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Building and Land Fixed Assets
Posted: Fri Jun 05, 2020 8:19 am
by fbctnc
When Power Church was set up fixed assets for buildings and land were created but no values were entered for these fixed assets. 2020 Property Cards are now available with current values and these values need to be entered. For the church, I have Fixed Asset COA 1520 for the building and COA 1604 for the land. Property Card lists $200,000 for the land and $1,000,000 for the building. What COA do I need to debit and what COA do I need to credit to get these values into Power Church.
Thank you.
Re: Building and Land Fixed Assets
Posted: Fri Jun 05, 2020 4:06 pm
by NeilZ
fbctnc wrote: ↑Fri Jun 05, 2020 8:19 am
When Power Church was set up fixed assets for buildings and land were created but no values were entered for these fixed assets. 2020 Property Cards are now available with current values and these values need to be entered. For the church, I have Fixed Asset COA 1520 for the building and COA 1604 for the land. Property Card lists $200,000 for the land and $1,000,000 for the building. What COA do I need to debit and what COA do I need to credit to get these values into Power Church.
Thank you.
Are you going to be including these amunts in the operating fund or, as I do, keep it in a separate accounting fund so that it doesn't skew the Operating Fund amounts?
That said, this thread will give you an idea of what to do:
viewtopic.php?f=3&t=9425