Eliminating a Fund # and transferring the funds to new fund

[LaVerne]

I have a fund called Easter Giving. We have recently begun a fund called Seasonal Giving (for all holiday contributions). I would like to transfer the funds from Easter to Seasonal and then delete the Easter Fund number.

I know I can do this by individual members, but is there a way to do all of them at one time?

[NeilZ]

I have a fund called Easter Giving. We have recently begun a fund called Seasonal Giving (for all holiday contributions). I would like to transfer the funds from Easter to Seasonal and then delete the Easter Fund number.

I know I can do this by individual members, but is there a way to do all of them at one time?

Actually, if the Easter fund is the only such seasonal one you have now, you can just rename the Contribution Fund to Seasonal now in time for Christmas. If your Treasurer is consolidating the income accounts on the Funds Accounting side, again now's the time to do it using the Easter account there (if any).

However, as long as money is listed against the account number itself, you cannot delete it, and there is no programmatic way of doing that within Powerchurch.

FWIW ... at my previous church, we did consolidate on the Funds Accounting side, but not on the Contributions side, as we determined that our members, along with our Elders wanted to track the amounts being contributed at each time separately.

[Eden Whitehead]

If I am understanding the post correctly (which is questionable ), I think it touches on a question I have (as a user-in-training), which is:

From the standpoint of GAAP and what PCPlus allows/requires, what is the preferred correspondence between Contribution funds and income accounts in Fund Accounting?

What I mean is: Is it necessary/desirable for every CO fund to have a corresponding income account in FA (that is, a one-to-one correspondence between the two modules)?

Or, is it acceptable/possible to have several CO funds credit the same income account? For example, in CO there is the Easter Lily fund, the Lenten Concert fund, the Christmas Decoration/Poinsettia fund, and the Christmas concert fund. Can they all credit a Seasonal Gifts donor designated income account in FA? In that case, how does one track that Easter lily contributions actually go to Easter lilies and not to the Christmas concert?

And vice versa. If one has, for example, a single CO fund set up for "Designated Gifts" and contributions from any given Sunday are "designated" to 3 different Donor Designated funds in Fund Accounting, how does the correct amount get credited to the respective income account in FA?

I have not (yet) actually entered any of this data but know it is a situation I am going to have to be able to deal with. I appreciate whatever help, insight, or tips anyone can offer.

Eden

[NeilZ]

If I am understanding the post correctly (which is questionable ), I think it touches on a question I have (as a user-in-training), which is:

From the standpoint of GAAP and what PCPlus allows/requires, what is the preferred correspondence between Contribution funds and income accounts in Fund Accounting?

What I mean is: Is it necessary/desirable for every CO fund to have a corresponding income account in FA (that is, a one-to-one correspondence between the two modules)?

From a contributions standpoint, GAAP has no meaning. It is strictly income, thus must have an income account in Fund Accounting of some sort, however, multiple Contribution Funds can update a single Funds Accounting account.

Or, is it acceptable/possible to have several CO funds credit the same income account? For example, in CO there is the Easter Lily fund, the Lenten Concert fund, the Christmas Decoration/Poinsettia fund, and the Christmas concert fund. Can they all credit a Seasonal Gifts donor designated income account in FA? In that case, how does one track that Easter lily contributions actually go to Easter lilies and not to the Christmas concert?

Again from a contributions standpoint, you can have as many contribution funds as you want updating one Funds Accounting account. I would assume that everything not used to buy individual lilies, then flows back into the general account. In my old church, each lily was purchased in honor or in memory of someone, and we only ordered that many lilies. If more were needed, that came out of a separate budgeted line item. As far as the concert, I would assume the same would be done. Any expenses would be covered by the contributions (or ticket sales -- not knowing how you do this), and any excess going into the general fund. You can track the income by contribution fund, and not really have to worry about it in FA. Can you follow that ??

And vice versa. If one has, for example, a single CO fund set up for "Designated Gifts" and contributions from any given Sunday are "designated" to 3 different Donor Designated funds in Fund Accounting, how does the correct amount get credited to the respective income account in FA?

Here's where a problem can come in, you can have separate sub-accounts in FA to handle different types of designated gifts from three separate Contributions Fund. Or have one contribution fund to handle such gifts to simplify the entry of contributions by volunteer counters (such as we have), then on the Funds Report created at the end of the count, list the amounts with their designated usage, and the treasurer can then adjust the amounts at posting time. Since at my last church, we discouraged 'designated' giving, instead encouraged any additional gifts to be set as determined by our Session, we found that last way of doing it worked for us. The financial secretary would write any thank you notes for such gifts, and the treasurer moved the gift to any required account.

I'm not sure if I'm all that clear, so please ask for more clarification if necessary.