New Missions Fund

[fbcacctg]

Hi,
Our church uses PCP ver 10 and has two separate funds...a general fund and a restricted fund...both using the same checking account. In the past, we have had a separate Missions checking account...handled entirely seperately by someone else using Quicken. Starting in 2009, the missions responsibility has been combined with mine. So I set up a 3rd fund called "missions" in PowerChurch. For each missionary, I set up an income account, expense account and equity account. Each quarter we transfer money from our general fund checking account to the missions fund checking account. Now that all the missions accounting is being integrated into PowerChurch, I would like to know if the following will work for our transfers between general fund and missions fund. I know that you are supposed to use Transfer Accounts (9000 and above) for transfers between funds. However, in the past our church boards and committees are used to seeing individual receipts for each missionary. Instead of using transfer accounts, can I simply debit the Missionary expense and credit cash on the general fund and credit the individual missionary income accounts and debit cash on the Missions fund side?
I have tested this and it seems to work and comes up with the same bottom line results as using the transfer accounts. The only downside is that when running consolidated income statements it will overstate total income....but the bottomline is still the same. I just want to make sure doing it this way makes sense. The church board will not want to see $10,000 in the transfer to missions account....they'll want to see an individual receipt for each missionary.
Thanks!

[Matt]

I would not recommend recording the transfer the way you propose because then the income and expense is recorded twice when a consolidated Income and Expense statement is run. This overstates the true income and expense.

It sounds like when the money for missions originally comes in it should be allocated to each missionary as income at that time. Can this be done? Doing so would alleviate the need to do the transfers.