User Support Forum

Using Powerchurch Plus 9, Windows XP. We have a Temp Restricted Building Fund Equity account 01-3210-101 in the Checking (Asset) bank account. The Contributions module posts to it when there is a donation to the Building Fund. Our Board wants to transfer money already in the checking account to a separate Savings (Asset) bank account, which I do by crediting the checking account and debiting the savings account. How do I also increase the amount in the Building Fund equity account 01-3210-101 at the same time without interfering with the Checking to Savings transfer? And how do I add the $2,800 already transferred from Checking to Savings to the Temp Restricted Building Fund Equity account?

rcwoodcock wrote:Using Powerchurch Plus 9, Windows XP. We have a Temp Restricted Building Fund Equity account 01-3210-101 in the Checking (Asset) bank account. The Contributions module posts to it when there is a donation to the Building Fund. Our Board wants to transfer money already in the checking account to a separate Savings (Asset) bank account, which I do by crediting the checking account and debiting the savings account. How do I also increase the amount in the Building Fund equity account 01-3210-101 at the same time without interfering with the Checking to Savings transfer? And how do I add the $2,800 already transferred from Checking to Savings to the Temp Restricted Building Fund Equity account?

It occurs to me that the best solution may be to abandon the Building Fund Equity account altogether, since the separate Savings Account is in fact a dedicated Building Fund, making the Temp Restricted equity account redundant.

Keep in mind that the INCOME is what is restricted when it comes into the church. After that, you can move it around from bank account to bank account without ramifications.

Contribution of restricted money:
DB 01-1110-000 $2,800
CR 01-4210-000 $2,800 (closes to 01-3210-000) restricted

Move the money from checking to savings doesn't affect restriction at all:
CR 01-1110-000 $2,800
DB 01-1200-000 $2,800

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This part is a little confusing: "And how do I add the $2,800 already transferred from Checking to Savings to the Temp Restricted Building Fund Equity account?"

I am assuming that you received the money as UNRESTRICTED like this:
DB 01-1110-000 $2,800
CR 01-4010-000 $2,800 (closes to 01-3110-000) unrestricted

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Now, you want to RESTRICT it:
DB 01-4010-000 $2,800 (closes to 01-3110-000) unrestricted
CR 01-4210-000 $2,800 (closes to 01-3210-000) restricted

Two things to note:
1) the move to restrict the INCOME is independent of what bank account it is in.
2) don't directly include the equity account in the transaction. Let the "closes to" part do the work. As soon as you post the transaction shown above, your equity accounts will automatically change, too.

Hope something in there helps.