Consolidating Bank Accounts

[TBM]

Our church has at last count 6 bank accounts. They don't contain alot of money thus my desire to use PowerChurch to use one fund account and one bank account to keep track of all transactions. My concept is to setup Fund O! Cash Flow with subaccounts such as

01-1110-000 Operating Funds
01-1111-000 Renovation Funds

The total would equal the actual money on deposit in the bank. If fund are need from the Renovation Fund 01-1111-000 one could post the check against 01-1111-000 or transfer the monies from 01-1111-000 to 01-1110-000.

Is there a simplier way or should I use sub accounts ?


tbm

[Jeff]

Are these actual different checking accounts at the bank, or are they different balances that your church is carrying in your records? If they are actual different bank accounts you will want to use different major account number. (ie the middle 4 numbers) You will have to do this for the bank reconciliation to work.

If they are just balances that you are keeping track of, then you can use the sub account numbers to keep track of them. By using sub-account numbers since they are one bank account, the bank reconciliation will work.