When to enter and post contributions at end of month

[LL-EDENCOB]

Have been using PowerChurch for about 5 months...... how is the best way to handle this situation? The month of May ended on a Sunday, so the contributions were given on Sunday the 31st. However, the contributions will not get credited or show in the bank statement until the June statement. Is it best to enter the contributions into PowerChurch in May or June?

[NeilZ]

Have been using PowerChurch for about 5 months...... how is the best way to handle this situation? The month of May ended on a Sunday, so the contributions were given on Sunday the 31st. However, the contributions will not get credited or show in the bank statement until the June statement. Is it best to enter the contributions into PowerChurch in May or June?

As far as Contributions are concerned, you can set the date you want to use to enter the contributions when you begin to enter the Contributions. So even if you're going to enter them on the 1st, you can change the date to show that they were for the 31st.

As far as Accounting however, if you post the Contributions from the Contributions module on the 1st, then post them in Accounting, I'm fairly sure that the date shown in Accounting will be the date of the Contributions. As you said, the bank will not reflect the deposit until the 1st, which should not be a problem as the Accounting module will list the deposit as being made in May so the Accounting reports will properly reflect May's income.

[bookkeeper-sheila]

At my church, when this date-situation happens, I enter the contributions as of Sunday the 31st, posting 31st, so it shows up in that month's income, since that is when it occurred.

We aren't too concerned about when it gets to the bank and so forth, because we look at the deposits just like a check: I might write the check today, but it won't be deducted from my account for two weeks; likewise, I collected tithing on Sunday the 31st (that's when the church counts it as income), but it didn't get run through the bank until later in the week.

This is extremely necessary for us at end-of-year, if we are running close on the break-even point in our annual budget.

Hope this helps!