User Support Forum

I am trying to set up accounting in Powerchurch online. My previous experience is Quickbooks and this software is very complicated to me.

The church wrote a check out of one bank account and deposited it into another account at a new bank. I entered a manual check for the check that was written.
Check #1836
account# 01-1130-000 checking #1 - $150 credit
account #9510 transfer from fund 01 - $150 debit (my best guess on which account to use)

How do I record the deposit into the new bank account?

Preacherterry wrote:I am trying to set up accounting in Powerchurch online. My previous experience is Quickbooks and this software is very complicated to me.

The church wrote a check out of one bank account and deposited it into another account at a new bank. I entered a manual check for the check that was written.
Check #1836
account# 01-1130-000 checking #1 - $150 credit
account #9510 transfer from fund 01 - $150 debit (my best guess on which account to use)

How do I record the deposit into the new bank account?

Some questions first:

1. Was the check written to transfer to a savings or other type bank account?
2. Are you tracking the new bank account under the same fund as the original checking account, that is fund 01 ??

They have 3 checking accounts at different banks. When I set up accounting, I told it which was the new primary account and it automatically set all three up under 01 like this:

BANK ACCOUNTS
CHECKING ACCOUNTS
01-1110-000 primary
01-1120-000 checking #2
01-1130-000 checking #3

I'm just not sure how to record a deposit that is not a "contribution." I have been able to post contributions just fine. Now that accounting is set up, I also need to go back and post the previous deposits to accounting manually so I think it is important I do these deposits correctly.

Preacherterry wrote:They have 3 checking accounts at different banks. When I set up accounting, I told it which was the new primary account and it automatically set all three up under 01 like this:

BANK ACCOUNTS
CHECKING ACCOUNTS
01-1110-000 primary
01-1120-000 checking #2
01-1130-000 checking #3

I'm just not sure how to record a deposit that is not a "contribution." I have been able to post contributions just fine. Now that accounting is set up, I also need to go back and post the previous deposits to accounting manually so I think it is important I do these deposits correctly.

This looks like a simple debit/credit transaction. If I'm wrong, I know someone will come by and correct me.

When you write the check you correctly credited account 01-1130. However, the debit is should be the new checking account: 01-1110.

So, what I would do is REVERSE the previous transaction (if already posted) of:

Check #1836
account# 01-1130-000 checking #1 - $150 credit
account #9510 transfer from fund 01 - $150 debit

And manually reenter the check under Funds Accounting in this manner:

On the form use Ref/Check No of something like this: Ck 1836/DEPOSIT
Desc: Transfer within Fund
CR 01-1130 - $150.00
DB 01-1110 - $150.00

Enter the reason for the check and deposit in the Transaction Notes so others understand what you did.

The reason behind this is that it is NOT an expense nor a transfer in the sense you're moving between Fund Accounting funds. You've already accounted for the income, now you're just moving it around.

I take it that this new checking account will be the one being used for all Contribution income in the future, right ??

Thank you. I will do this. Yes, they have started using the new checking account for transactions so we can start fresh with a new account and the old account is more like savings at this point.