User Support Forum

We keep our funds in 3 separate bank accounts - 1 for General Fund; 1 for Missions & 1 for Restricted Funds. That way, we never run the risk of spending from 1 fund for another.

When I record the offering from a Sunday morning, the debit is to the General Fund (01) checking account. I then make a bank transfer to "move" the missions & restricted funds to their appropriate accounts.

My questions is: Does the offsetting credit need to also be General Fund (01) accounts?

If so, would I then need to make 2 entries for each transfer, as follows:
1. To transfer the asset (cash) to the correct account.
2. To transfer the restricted income or the pass thru contribution to the correct account?

Just want to make sure I'm getting all side of the coin.

Thank you, as always, for the great help this forum is!!

Heidilr1 wrote:We keep our funds in 3 separate bank accounts - 1 for General Fund; 1 for Missions & 1 for Restricted Funds. That way, we never run the risk of spending from 1 fund for another.

When I record the offering from a Sunday morning, the debit is to the General Fund (01) checking account. I then make a bank transfer to "move" the missions & restricted funds to their appropriate accounts.

My questions is: Does the offsetting credit need to also be General Fund (01) accounts?

If so, would I then need to make 2 entries for each transfer, as follows:
1. To transfer the asset (cash) to the correct account.
2. To transfer the restricted income or the pass thru contribution to the correct account?

Just want to make sure I'm getting all side of the coin.

Thank you, as always, for the great help this forum is!!

You need to setup and use Transfer accounts in the system. If you press the F1 HELP key in the program, then search for Transfer Accounts, the built-in help has a fairly good example on how to use them to move funds/expenses between Fund Accounts accounting funds.

Yes, I've been using the transfer accounts. My question is more just asking for a confirmation on whether I need to do both entries (the "balance sheet " entry & the "income stmt" entry).

Heidilr1 wrote:Yes, I've been using the transfer accounts. My question is more just asking for a confirmation on whether I need to do both entries (the "balance sheet " entry & the "income stmt" entry).

Definitely ... first off, you have to move the money to show in the correct checking account. Then you have to show the income under the correct accounting fund.

The reason (I believe) is that you'll show more cash in the checking account in Fund Account 02, but without the additional declaration of income after you transfer the funds. Definitely will throw off reports.

What we do is just use one checking account, and let the system do the balance computations.
01-1110, 02-1110, 03-1110 .

If the system does not show enough money under the 01-Operating fund, the treasurer does not write any checks against any expenses there. She can still write checks if a 02-Building Fund or 03-Missions check is needed, as long as there are funds showing in the balance.of their bank account

When you go to reconcile, the system treats it as one account (as it should) and there in no need to reconcile three different checking accounts.

I may not be stating this clearly enough, if not, I know someone will come by to correct me

Another approach to this is to make three deposits. Assuming that the checking accounts are all at the same back of course. Just set up each contribution fund to debit the correct checking account and make each of those deposits separately and there will then be no need for any transfers and the chance of over stating income to the General Fund.

I do what Neil explained. We have only one checking account and all my Funds - currently 12 - are in that account. I have Power Church Today set so that when the program opens it displays the balances of the funds. I then know as soon as the software opens what I have available in each fund.

Tom,

I had thought of that, but then you get contribution checks that divvy up the amount between two or three different funds. You're stuck with the deposit into one, then the transfer.

Good point, and the juggling of cash and checks to come up with the correct deposit amounts could be quite a challenge.

tborgal wrote:I do what Neil explained. We have only one checking account and all my Funds - currently 12 - are in that account. I have Power Church Today set so that when the program opens it displays the balances of the funds. I then know as soon as the software opens what I have available in each fund.

How do you set up Powerchurch to display your balances when you open the program?

antioch11 wrote:

tborgal wrote:I do what Neil explained. We have only one checking account and all my Funds - currently 12 - are in that account. I have Power Church Today set so that when the program opens it displays the balances of the funds. I then know as soon as the software opens what I have available in each fund.

How do you set up Powerchurch to display your balances when you open the program?

What version do you have ?? I believe this is available in v10 and v11. You would go into File -> Preferences -> User Setup. You would then look for the Today tab.

If you have access to Accounting, you would first make sure that the box that says "Display Today screen when Powerchurch starts" is checked. Then go into the list shown and find the ones for Accounting. There are two listed by default: Default Checking Account Balance and Current Accounts Payable Invoices.

If you have more than one option checked the tab that was selected in the PowerChurch Today window when you closed PowerChurch is the one that will be displayed the next time it is started. Also this is profile specific. Another user can set this window up the way they want it or not use it at all.

I have version 11, I'll give this a try. Thanks.