Contributions Set-up

[Najawa]

Hi I need help really bad. I have PowerCurch Plus 9. I need to know if anyone knows how your Maintain list of contributions fund should be set up? What I mean is what account do you debit and credit when you have more then one bank account. Thank you in advance.

[NeilZ]

Hi I need help really bad. I have PowerCurch Plus 9. I need to know if anyone knows how your Maintain list of contributions fund should be set up? What I mean is what account do you debit and credit when you have more then one bank account. Thank you in advance.

Not knowing how your church is setup, this is a hard question to answer.

I can give you a likely scenario based on using one checking or money market account as the main account for all income in Funds Accounting:

Fund 1: Operating - Debit: Money Market (01-1212-000) Credit: Tithes & Offerings (01-4111-000)

Fund 2: Building Fund - Debit: Money Market (01-1212-000) Credit: Tithes & Offerings (02-4111-000)

Note the difference in the Funds Accounting fund numbers.

Again, not knowing how your church uses it bank accounts, there's not much more I can tell you. However, in the scenario above, the treasurer has an automatic transfer setup at the bank to move money from the Money Market account, to the checking account to pay bills. I'm not sure of the exact transaction in PC+ that is used to account for that, but I suspect its pretty straightforward.

[Jeff]

For a particular contribution fund do you sometimes deposit contribution to it into one bank account and other times deposit it somewhere else? From an accounting internal control perspective, you should deposit money into only one bank account. If you need to transfer the money into other accounts for administrative purposes that can be accomplished by moving money out of that account to the other bank account. This could be done with a check or electronic transfer and treated as a separate transaction in PC+.

You will find other posts in this forum where one person as written one check to two things you are keeping track of in separate bank accounts. It is easier to administratively to deposit all money into one account and then move it around as necessary.