Fund Account Transfers

[GNBBC]

Help!!!! I transferred funds from one account to another account, using only a two-step process: I credited from one account, say, $500, and debited that same amount to the other account. I hit enter and received a message stating that the transaction balanced, or something to that effect. When I saw that message, I rejoiced, and then proceeded to post the transaction (actually, several other transactions that were waiting in the queue to be posted). However, after getting home from work and logging into PowerChurch to continue reading about the Accounting feature on your PDF training document, I learned that this should have been a four-step process.

"For each transaction, we want to balance it credit and debit wise, but we want to balance it credit and debit within each fund. We want the total of debits in that fund to equal the total credits in that fund."

My dilemma: Can my actions be reversed? If not, what can I do to correct this?

Your assistance will be greatly, greatly appreciated. Thank you. Joyce

[NeilZ]

Help!!!! I transferred funds from one account to another account, using only a two-step process: I credited from one account, say, $500, and debited that same amount to the other account. I hit enter and received a message stating that the transaction balanced, or something to that effect. When I saw that message, I rejoiced, and then proceeded to post the transaction (actually, several other transactions that were waiting in the queue to be posted). However, after getting home from work and logging into PowerChurch to continue reading about the Accounting feature on your PDF training document, I learned that this should have been a four-step process.

"For each transaction, we want to balance it credit and debit wise, but we want to balance it credit and debit within each fund. We want the total of debits in that fund to equal the total credits in that fund."

My dilemma: Can my actions be reversed? If not, what can I do to correct this?

Your assistance will be greatly, greatly appreciated. Thank you. Joyce

OK ... first off ... were the accounts in the same Accounting Fund? If so, not a problem. If they weren't, you would have gotten a WARNING message that the Total Debits and Credits in each accounting fund do not balance. Since you didn't get that, I'm going to assume you were moving funds within the same accounting fund.

[GNBBC]

Thank you, sir. Sorry for the late reply. But yes, they were within the same accounting fund. Whew! I thank God for you guys.