User Support Forum

When I set up PowerChurch, I set up two checking accounts, "A" and "B" because we were in the process of switching checking accounts. We only had one outstanding check in "B" but I accidently entered it into "A" during the Accounting Setup. I realized my mistake when today when I did my first reconciliation.

My question is, what kind of an entry should I do to move the outstanding check to account "A" from account "B" so that I can properly reconcile it?

Thanks for your help. I've spent hours reading and searching this forum for answers to my many questions. What a blessing!

If you mean a "pre-existing" check, one that existed before you were using PowerChurch, you cannot re-enter it, except to begin the startup process over and enter it in the setup wizard.

You have two options, the best of which is to run your Accounting Setup again.

The other involves three accounting entries, and it will leave a "strange" amount on your books for one entire year. The first two entries moves the amount from Checking A to Checking B. The third entry corrects the equity account, because you are actually entering the check amount twice. You will end up with a negative entry in "misc expense", which won't go away until next year.

I would start over, but you may have a lot of time already invested in it.

Here are the three entries, if you are interested:
DB checking A $wrong-check-amount "correction entry 1 for setup accounting error"
CR misc expense $wrong-check-amount "correction entry 1 for setup accounting error"

(I think that once you reconcile, you will end up with too much money in your checking A balance. If that is correct, correction entry 3 will be necessary to bring checking A into agreement with your bank statement).

CR checking B $wrong-check-amount "correction entry 2 for setup accounting error"
DB misc expense $wrong-check-amount "correction entry 2 for setup accounting error"

CR checking A $wrong-check-amount "correction entry 3 for setup accounting error"
DB unrestricted net assets $wrong-check-amount "correction entry 3 for setup accounting error"

Again, I think it would be better to run the setup again.

John,

Thank you for your reply. Yes, I am referring to a pre-existing check.

If I restarted accounting it would be my fourth time. I'd have to have a good cry, first.

But, on the other hand, I'd rather not have that "strange" entry on my books the whole year.

I found this thread viewtopic.php?f=3&t=3714&p=12529&hilit= ... eck#p12529 . Based on the information from this thread would the following be possible?

01-1110-000 checking (debit) 50.00
01-3110-000 unrestricted equity (credit) 50.00

Post this transaction.

The next time you Reconcile Bank Accounts, this entry will show in the "Deposits and other additions", as well as the original check, which shows in the "Checks and other subtractions". Mark both of them as being cleared.

Then, I could enter a transaction into the correct checking account as of 1/1/2010. Actually, this would work better since this expense was supposed to be recorded in January anyway as it is for rent. If I did it this way it would remove it from account A and put it in account B.

Would this work?

It may. It's actually the net of the three transaction I listed.

My one question, that I cannot answer without setting it up and trying it, is if this will leave Checking A with $50.00 too much.

The transactions will all reconcile, but will the account balance be $50.00 more than the bank statement? I don't know, because I don't know what PowerChurch does when you enter the $50.00 outstanding check in the setup wizard. If it subtracts $50.00 from the starting balance that you enter, then you are ok. If it does not, you may be $50.00 over after you reconcile with this one entry.

I would suggest you try it, rather than do the setup all over. If it doesn't work out with just one entry, then the other two entries I showed you will work, or you may choose to start over, anyway.

Let me know.

Jenny,
don't forget to do a backup before you try this. Then if it doesn't work out, you don't have to go too far back.
Debbie

ps. i share your pain with doing the setup multiple times.

Thank you for the reminder Debbie. I did that right away. I've been so focused on figuring this program out that I completely missed that basic step.

I found the check in my posted transactions so I was able to reverse it and re-enter it in the correct checking account. Apparently, I had entered it as an outstanding check the second time, but not the third time, through Accounting Setup.

Thanks for your help!