I am brand new to Power Church and the closing of the year end.
I hope that someone can walk me through it in a simple fashion.
This is where I am at:
1. I have closed the month of December.
2. I have a new budget for 2006 but have not set it up in Power Church
3. I have entered Transactions for January 06 (i.e. payables, payroll, contributions) but have not posted them in Fund Accounting. Can I close out 2005, set up the new budget and then post these 2006 transactions to the new year.
If you're using v9, you closed 2005 when you closed December. You can post your January 2006 entries at any time, and you can also set up your budget at any time in Maintain Chart of Accounts. Detailed instructions on how to do this start on page 232 of the v9 manual.
If you're using a prior version, then you will have to specifically close the year in PowerChurch. Once you've done that, you can then post transactions in 0601, and you can set up your budget in Maintain Chart of Accounts. Consult your manual for step-by-step instructions on setting up a budget.
