User Support Forum

We are getting setup to import Vanco Transactions into PowerChurch.

In my role as Parish Administrator I use the Accounts Payable and Membership modules regularly. I have access to Fund Accounting and use it to support the work of our Treasurer. I am working to assist our Financial Secretary (Contributions Module user) and Treasurer so that we can begin importing Vanco contributions. I need to set up the Transit Asset Account. The sample Chart of Accounts that I find on the PowerChurch website does not show the Transit Asset Account. I'm wondering what the Asset section of the Chart of Accounts might look like for some of you.

Specifically, I am wondering, is the Transit Asset Account a detail account it in it's own group? Or does the Transit Asset detail account belong to the Bank Accounts or Other Assets (group) account?

Thank you for your help!

Susan

SusanG wrote: ↑

Thu Mar 04, 2021 1:27 pm

We are getting setup to import Vanco Transactions into PowerChurch.

In my role as Parish Administrator I use the Accounts Payable and Membership modules regularly. I have access to Fund Accounting and use it to support the work of our Treasurer. I am working to assist our Financial Secretary (Contributions Module user) and Treasurer so that we can begin importing Vanco contributions. I need to set up the Transit Asset Account. The sample Chart of Accounts that I find on the PowerChurch website does not show the Transit Asset Account. I'm wondering what the Asset section of the Chart of Accounts might look like for some of you.

Specifically, I am wondering, is the Transit Asset Account a detail account it in it's own group? Or does the Transit Asset detail account belong to the Bank Accounts or Other Assets (group) account?

Thank you for your help!

Susan

The transit account is a asset DETAIL account as it will have transactions posted to it, unlike a GROUP account which does not. It doesn't appear in the sample CoA as its not something that everyone uses. As to where it goes under the ASSETS you can use 'other assets' as the account is used to 'hold' the funds collected in online Contributions until you receive notice that the funds were deposited into your bank account, then you would create the transaction using the date of deposit to move the funds from this account to the checking so it will properly reconcile with the bank statement.

Don't forget that you will also need to have an expense account to properly account for the Vanco fees.

All this is covered under the Powerchurch Reference Manual, on page 156 if you're using v12. If you're using an earlier version of PCPlus, that version's reference manual has similar pages. If you don't have a hard copy of the manual, there is a PDF version in the Powerchurch\PCPLUSxx directory, where xx is the version number.