Reversing Contributions to Closed Month in Funds Accounting

[britellett]

When I am reversing a contribution from a month that has been closed do I need to go back to that working month?

[NeilZ]

When I am reversing a contribution from a month that has been closed do I need to go back to that working month?

If the month has been closed in Funds Accounting, and you're reversing a contribution that was posted to Funds Accounting, you really can't post that reversal to the closed month, you'll have to post it to the closest month that is still open.

That is, if March is closed, you need to post the reversal to April or May.

FWIW ... you don't need to close months in the current year, you can keep 18 months open in Funds Accounting so if you have June open, you can keep from January 2012 forward open in v10.x & 11.x.

Also, some advice .. if you can't find an answer through a search, its always better to start a new topic.

[britellett]

Thank you! The month isn't closed like I thought so I can just go back into that working month and make the corrections right?

Also thank you for the advice on the forum I am new to this whole process (started as finance secretary in Jan. and Powerchurch is a whole new world)

[NeilZ]

Thank you! The month isn't closed like I thought so I can just go back into that working month and make the corrections right?

Also thank you for the advice on the forum I am new to this whole process (started as finance secretary in Jan. and Powerchurch is a whole new world)

What you want to do is REVERSE the Contribution in contributions, then POST TO FUNDS ACCOUNTING.
I'm assuming that you're using v11.5, in which case you can look up the Contributor in the View Posted Contributions function, click on the contribution you want to reverse, then click on the REVERSE button.

You would then Post Contributions to Funds Accounting. The Contributions module will create the proper transactions to correct Funds Accounting. All you then need to do is post those transactions sitting in the Funds Accounting Unposted Transactions queue.

Voila .. you're done !!