User Support Forum

We collected money for a parishioner's Eagle Scout project and setup at temp restricted fund.

Several people have come forward and want to "donate' money from their parent's memorial funds to this project.

What's the proper way, technically, to transfer this money?

Thanks in advance.

josyf wrote: ↑

Fri Nov 11, 2022 6:48 pm

We collected money for a parishioner's Eagle Scout project and setup at temp restricted fund.

Several people have come forward and want to "donate' money from their parent's memorial funds to this project.

What's the proper way, technically, to transfer this money?

Thanks in advance.

We would need some additional information about this:

1. Are these memorial funds under the same accounting fund?
2. Do these funds have their own fund balance ("Net Assets" or "Equity) 3000 series account?
3. The temp restricted account, does it also have its own fund balance account?

If so the easiest way to do this is to enter transactions under Accounting -> Fund Accounting

Before you start anything, do a Powerchurch Backup of the Accounting Files using the Powerchurch backup function. You don't need to backup any other files in the system, just the Accounting files. Then if the results of these entries do not look right, you can restore to where you were before you started.

You're going to DEBIT the Memorial Fund Balance account and CREDIT the new Temp Restricted Fund Balance account for the amount of funds they want to move. You'll do this for each one of those memorial funds.

Enter as much information in the NOTES block at the bottom left of the transaction window to aid in future audit trails. I would also get a written letter requesting that the funds be moved by the family members so there's no question that the funds were moved at their request.

Does this help?

thank you Neil.
That worked perfectly.
Appreciate it!

josyf wrote: ↑

Fri Nov 25, 2022 3:39 pm

thank you Neil.
That worked perfectly.
Appreciate it!

Glad to be of assistance !!