Income account
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Income account
We sell water during service to help with the kids ministry. What is the best way to track that?
Re: Income account
I would create another income account to reflect the funds coming in. If this is totally restricted to kids ministry, I'd create a Donor Restricted account so that when funds are spent to purchase more water, or for something for the kids ministry, you click on the Release Restricted Funds to move the funds from the restriction.
To add such a temp restricted account, you would go into Accounting -> Funds Accounting -> Setup -> Maintain List of Donor Restrictions
Neil Zampella
Using PC+ since 1999.
Using PC+ since 1999.
Re: Income account
Thank you but I do I enter into the transaction? I debit the income account for water and credit the checking account?
Re: Income account
The cash deposit transaction would be the same as a Contribution deposit transaction, just using the different income account. The system takes care of updating the temp restricted fund balance account.
When you purchase you would create a normal invoice in Accounts Payable, but release the funds from the temp restricted account.
You may want to review the Powerchurch User Manual pages for Keeping Track of Restricted Contributions while this is not exactly a contribution, the income is definitely restricted to supporting a single ministry. If you are using v12, this starts on page 188 of the manual.
Neil Zampella
Using PC+ since 1999.
Using PC+ since 1999.