contributions listed under assets but not checking account

[bumclakeview]

I have a number of contributions that are listed correctly in the contributions module, and are listed correctly in fund accounting under unrestricted donations, but they do not appear in the checking account line. The unrestricted net assets line is correct but the checking account number is not, so my cash management amount is off. Any ideas?

02-1110-000 checking balance: $10,397.72

02-3110-000 unrestricted net assets: $14,759.42

02-4021-000 unrestricted donations: $15,200.82
02-4410-000 grant money: $17,125.00
02-4630-000 temp. restricted: $202.00
Total contribution income: $32,527.82

02-4965-000 restricted release: -$202.00
01-4991-000 release from restricted: $202.00

Total expenses: $17,768.40
Total income: $32,527.82
Excess income/expense: $14,759.42

Difference is $4,361.70
I found one line item incorrectly crediting savings instead of checking for $142.70.
Difference then is $4219.00

Again, I see the $4219.00 listed under 02-3110 but not under 02-1110 so unrestricted net assets is correct, but checking account is not so my cash management report looks way off.

[NeilZ]

I have a number of contributions that are listed correctly in the contributions module, and are listed correctly in fund accounting under unrestricted donations, but they do not appear in the checking account line. The unrestricted net assets line is correct but the checking account number is not, so my cash management amount is off. Any ideas?

02-1110-000 checking balance: $10,397.72

02-3110-000 unrestricted net assets: $14,759.42

02-4021-000 unrestricted donations: $15,200.82
02-4410-000 grant money: $17,125.00
02-4630-000 temp. restricted: $202.00
Total contribution income: $32,527.82

02-4965-000 restricted release: -$202.00
01-4991-000 release from restricted: $202.00

Total expenses: $17,768.40
Total income: $32,527.82
Excess income/expense: $14,759.42

Difference is $4,361.70
I found one line item incorrectly crediting savings instead of checking for $142.70.
Difference then is $4219.00

Again, I see the $4219.00 listed under 02-3110 but not under 02-1110 so unrestricted net assets is correct, but checking account is not so my cash management report looks way off.

Two things:

1. Check the Contribution Fund setup, make sure that you have the Checking account listed properly there.
2. Check the Posted Funds Accounting Transactions for the Contributions, make sure that they are properly listed.

[bumclakeview]

I think I see what may have happened. I think initially the fund 02 Jan. and Feb. contributions were set to go to 01 debit (checking account) and 02 credit account (unrestricted donations). I realized that was wrong and initially thought to transfer the money from fund 01 to fund 02 to correct it. However, then it appeared it would be listed twice in fund 02 (as a transfer to checking as well as listed under an income account). And since the unrestricted net assets in fund 02 is still correct, I'm still confused on how to fix this.

[JohnDMeyers]

There's a lot of stuff here, but I'll try to do a little troubleshooting with you.

I don't know if your grant money (02-4410-000) is supposed to be restricted or unrestricted.

You typed in 01-4991-000 above. Did you mean 02-4991-000?

If not, I think I have an idea where the problem may lie.

1a) make sure all of your restricted income accounts close-to restricted equity accounts.
Do this in Fund Accounting / Setup / Maintain Chart of Accounts
LOCATE
Income account
Detail [tab]

1b) Make sure all of your 01 income accounts close to 01 equity and all of your 02 income accounts close to 02 equity. (let me know if you find a mix up here)
i.e. if you go to 02-4021-000 and it closes to 01-3110-000, that is an easy fix.
It should close to 02-3110-000.

2) Make sure all of your expense accounts close-to unrestricted equity

3) Go to Contributions / Setup / Maintain List of Contribution Funds
Make sure your DB and CR both point to the same fund number.
In other words, you DON'T want this:
DB 01-1110-000
CR 02-4410-000
(let me know if you find a mix up here)

Once you get all of your accounts closing to the proper equity accounts, and your Contribution Funds straight, then we can go from there.

I'm hoping you will find a mix up in this setup (by hope, I mean, it will be easier to undo). If not, it was a procedural issue that we will have to uncover.

[bumclakeview]

3) Go to Contributions / Setup / Maintain List of Contribution Funds
Make sure your DB and CR both point to the same fund number.
In other words, you DON'T want this:
DB 01-1110-000
CR 02-4410-000
(let me know if you find a mix up here)

I think this is exactly it. I had entered two months of contributions (I retroactively entered data for calendar year 2012 starting in October 2012) when I realized that my three contribution funds that were supposed to point to fund 02, looked like that:
DB 01-0110 checking account
CR 02-4021 unrestricted funds

The total amount of contributions affected was $4219. (No, the grant money that goes to fund 02 is unrestricted other than it has to be used for expenses for fund 02) As of contributions starting March 2012, I had fixed the fund numbers to be DB 02-0110 and CR 02-4021 so the rest of the year is fine.

I believe that's why my 02-4021 account has the correct number but my 02-0110 does not. Is there a way to fix this? (Move $4219 from 01-0110 to 02-0110?) or do I need to reverse and re-enter?

Side note: when I realized this error the first time, I initially did a transfer from fund 01 to fund 02, but then realized it looked like double contributions for those months (i.e. a line in 02-4021 that closed to 02-3110 as well as a what appeared to be a contribution amount in 02-9110. So I reversed the transfer.)

Again, thank you so much for the help. I was kind of thrown into this and am trying my best but it's certainly a crash course in accounting and I am making plenty of mistakes!

[JohnDMeyers]

You will need to reverse the transaction EXACTLY as entered (only in reverse).

So if you did this:
DB 01-0110 checking account
CR 02-4021 unrestricted funds

You will need to REVERSE it like this:
CR 01-0110 checking account
DB 02-4021 unrestricted funds

PowerChurch will warn you not to do this. But go ahead and do it, after you are sure that it the EXACT reverse of the original.

Note: You can make this correction either in Contributions or in Fund Accounting. If it were me, I would do it in Contributions. My gut feeling is this is the better way to do it. It would take care of any other unforeseen problems.

I would go into Contributions / Setup / Maintain List of Contribution Funds, switch the DB and CR accounts, and Enter Contributions to enter the amount using that Fund.

Then, I would change the name of the Fund to DO NOT USE.

[bumclakeview]

For each line item, i.e. 9 different times, or one entry fixing them all?

So if originally the entry looked like this on 1/15/12:
DB 01-0110 checking ($50 if an individual entry; $4219 if all at once)
CR 02-4021 unrestricted

I would reverse as such:
CR 01-0110 checking
DB 02-4021 unrestricted

and then re-enter as:
DB 02-0110 checking
CR 02-4012 unrestricted

(These contribution amounts were part of a larger contribution deposit; i.e. maybe $50 out of a $4000 deposit went to fund 02, the rest went to fund 01, but I can just deal with the incorrect line item?)

[bumclakeview]

Ah, I didn't see the second half of your response at first. I will try entering these fixes in Contributions. However, I already changed the CR and DB to the correct numbers starting in March 2012 and then I kept using them, to the present. Should I at least re-start 2013 with new contribution accounts? Or is it already all mixed up?

[JohnDMeyers]

Sometimes, after I re-read my answers, I edit them. I added the second part after I thought about it.

If you made the correction in Fund Accounting, you are fine.

You don't need to restart Contributions if you don't want to.

Just go through each fund and make corrections as necessary. (unless you have dozens of messed up Funds).

I made manual corrections to my Contribution Funds at the beginning of 2013. I created Custom Codes and added them to each fund. We probably have 120 to 130 Contribution Funds. It took awhile.

[bumclakeview]

I made those corrections in fund accounting and everything seems to have worked fine.

THANK YOU! THANK YOU! THANK YOU!