User Support Forum

If I am writing a check from my operating account and depositing into my missions account (2 separate checking accounts), is it necessary to do a transfer? I write the check through AP. I have been using the transfer account number 4620, then transfer it into 4630. But when I post my deposits wouldn't that double the money going into that checking account? I'm confused.

PowerChurch allows you to keep one checking account for several funds and use the subaccount function for cash of each fund. If you have separate accounts, then credit the operating account and debit the missions account.

ghaislett wrote:If I am writing a check from my operating account and depositing into my missions account (2 separate checking accounts), is it necessary to do a transfer? I write the check through AP. I have been using the transfer account number 4620, then transfer it into 4630. But when I post my deposits wouldn't that double the money going into that checking account? I'm confused.

You could do it the way you are currently, or take the check in as a contribution.

Jeff

I understand that part, but where I am getting confused is on making deposits. I have been posting deposits from my bank statements using journal entries. If the money that I have transferred is included in the deposit, won't that be double entry?

ghaislett wrote:I understand that part, but where I am getting confused is on making deposits. I have been posting deposits from my bank statements using journal entries. If the money that I have transferred is included in the deposit, won't that be double entry?

Absolutely correct.

You need to decide on how you want to account for contributions. There are times when we make a deposit that is not a contribution related entry (i.e. a utility refund). In a case like this, we do a journal entry for the deposit.

Everything else is done via a contribution entry, then posted to fund accounting.

Make sense?

Jeff