User Support Forum

We have experienced bank fraud and have to open a new checking account immediately. We are in the 10th month of our fiscal year. I'm trying to figure out how to do this in PC. I will transfer funds out of the current checking account into a new one, and leave only enough to cover unreconciled checks in the old. I am struggling with how to account for both of these accounts in my reporting. Both accounts have general fund information contained within. They have to be separate to reconcile, and both have to be connected to the budget, line items, etc. and report together. Help!!!

loish wrote: ↑

Mon Feb 01, 2021 2:06 pm

We have experienced bank fraud and have to open a new checking account immediately. We are in the 10th month of our fiscal year. I'm trying to figure out how to do this in PC. I will transfer funds out of the current checking account into a new one, and leave only enough to cover unreconciled checks in the old. I am struggling with how to account for both of these accounts in my reporting. Both accounts have general fund information contained within. They have to be separate to reconcile, and both have to be connected to the budget, line items, etc. and report together. Help!!!

Did you create a new checking asset in your general (operating?) fund in Powerchurch? No need to mess with changing budgets as a checking account has nothing to do with the budget you setup for income.

Have you transferred the funds from one to the other? This is a simple transactions, CREDIT one and DEBIT the other. They are both assets in the same fund, so there's no fooling around with any transfer accounts. Easy Peasy!

However, you DO need to change all the Vendor records in AP, and all the Contribution Funds to point to the new checking account, otherwise they will post to the old one.