Smart Giving (Texts)

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JamestownFirst
Posts: 4
Joined: Thu Oct 01, 2015 3:01 pm

Smart Giving (Texts)

Post by JamestownFirst »

Hello,

How does one record a contribution given through a text where a transaction fee is involved? Obviously, the whole amount given my the contributor is recorded, however, how does one record the fee it matches the bank statement when reconciling each month. For example, say a one gives $10, however on the bank statement it will come back as $9.75. How does one record that $.25 fee so the PowerChurch "books" coincide with the bank statement?

Thank you for your help!

NeilZ
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Location: Dexter NM
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Re: Smart Giving (Texts)

Post by NeilZ »

JamestownFirst wrote:Hello,

How does one record a contribution given through a text where a transaction fee is involved? Obviously, the whole amount given my the contributor is recorded, however, how does one record the fee it matches the bank statement when reconciling each month. For example, say a one gives $10, however on the bank statement it will come back as $9.75. How does one record that $.25 fee so the PowerChurch "books" coincide with the bank statement?

Thank you for your help!

This thread has a few ideas that you can use to cover this type of situation:

viewtopic.php?t=1288
Neil Zampella

Using PC+ since 1999.

JamestownFirst
Posts: 4
Joined: Thu Oct 01, 2015 3:01 pm

Re: Smart Giving (Texts)

Post by JamestownFirst »

NeilZ wrote:
JamestownFirst wrote:Hello,

How does one record a contribution given through a text where a transaction fee is involved? Obviously, the whole amount given my the contributor is recorded, however, how does one record the fee it matches the bank statement when reconciling each month. For example, say a one gives $10, however on the bank statement it will come back as $9.75. How does one record that $.25 fee so the PowerChurch "books" coincide with the bank statement?

Thank you for your help!

This thread has a few ideas that you can use to cover this type of situation:

viewtopic.php?t=1288


I read through the complete thread, set up our accounts as suggested by Matt in the Sept 14, 2013 post, however the same thing is happening as what LindsayNicole was asking. When set up as 2 separate contributions, even though the fee is set up as Debit expense account and Credit checking account, when posting the entire contribution entry it adds the fee on top of the contribution (ex: contribution of $100 with a fee of $3 shows up as $103). When running an income vs expense statement the fee of $3 appears on the expense line, but also in the income. In reconciling the bank statement, this entry would show in Power Church as $103 and not $97 as it would on the bank statement. Any suggestions?

The account set up is as follows:

1st entry in Contributions:
01-1164-000 Gen Checking (Bank) Debit $100
01-4102-000 Gen Fund (Income) Credit $100

2nd entry in Contributions:
01-1164-000 Gen Checking (Bank) Credit $3
01-5323-001 Online Giving Fee (Expense) Debit $3

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