on line contribution fund similar to paypal

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bsbrown
Posts: 43
Joined: Mon Feb 03, 2014 12:40 pm

on line contribution fund similar to paypal

Post by bsbrown »

In Feb, set up a new on line giving contribution fund. Just caught the fact that in setup for this fund, I debited the actual bank account instead of the online bank account like the paypal setup and did not enter a credit account. I noticed the income was not showing on the income statement. Posting has occurred for February. Can anyone tell me where the income went and how to possibly straighten out. Thanks.

NeilZ
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Location: Dexter NM
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Re: on line contribution fund similar to paypal

Post by NeilZ »

bsbrown wrote:In Feb, set up a new on line giving contribution fund. Just caught the fact that in setup for this fund, I debited the actual bank account instead of the online bank account like the paypal setup and did not enter a credit account. I noticed the income was not showing on the income statement. Posting has occurred for February. Can anyone tell me where the income went and how to possibly straighten out. Thanks.
If you didn't have the Contribution account setup properly in Contributions, you should have received an error when you went to post the Contributions because the system would not be able to create the transactions for Funds Accounting.

I would check Funds Accounting to see if ANYTHING for that fund was posted. I suspect that you won't see any.

What you will need to do since the Contributions were posted, is create the entry for Funds Accounting that would show the deposit.
Neil Zampella

Using PC+ since 1999.

bsbrown
Posts: 43
Joined: Mon Feb 03, 2014 12:40 pm

Re: on line contribution fund similar to paypal

Post by bsbrown »

I did that when I attempted to reconcile so it was done as an enter transaction in fund accounting and shows as posted. Will this amount not ever show as income. Is there some kind of adjustment that can be made so it will. If it doesn't show as income, won't the income statement be incorrect. Not an accountant so don't know the answer to these questions. Thanks for the help.

NeilZ
Posts: 10209
Joined: Wed Oct 08, 2003 1:20 am
Location: Dexter NM
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Re: on line contribution fund similar to paypal

Post by NeilZ »

bsbrown wrote:I did that when I attempted to reconcile so it was done as an enter transaction in fund accounting and shows as posted. Will this amount not ever show as income. Is there some kind of adjustment that can be made so it will. If it doesn't show as income, won't the income statement be incorrect. Not an accountant so don't know the answer to these questions. Thanks for the help.
What was the transaction you entered ??

You should have shown a DEBIT to the Asset Account (PayPal ??), and a CREDIT to the income account. If it was done this way, then the income account would properly show the Income.

What accounts did you use ??
Neil Zampella

Using PC+ since 1999.

bsbrown
Posts: 43
Joined: Mon Feb 03, 2014 12:40 pm

Re: on line contribution fund similar to paypal

Post by bsbrown »

have a contribution fund setup to debit online deposit acct 1140 and credit online income acct 4040. When I make a manual entry in fund accounting to transfer the $ to bank, debit 1110, checking and credit 1140. Apparently when I began receiving the new on line contributions, I messed up somewhere, There is a manual entry and a contribution system entry for the new receipts. Since I get a warning if I try to reverse the contribution entry, is deleting the entries in the contribution module the only way to fix.

NeilZ
Posts: 10209
Joined: Wed Oct 08, 2003 1:20 am
Location: Dexter NM
Contact:

Re: on line contribution fund similar to paypal

Post by NeilZ »

bsbrown wrote:have a contribution fund setup to debit online deposit acct 1140 and credit online income acct 4040. When I make a manual entry in fund accounting to transfer the $ to bank, debit 1110, checking and credit 1140. Apparently when I began receiving the new on line contributions, I messed up somewhere, There is a manual entry and a contribution system entry for the new receipts. Since I get a warning if I try to reverse the contribution entry, is deleting the entries in the contribution module the only way to fix.
Well, the fund setup looks correct. As far as the transfer, that is also correct.

Now you say you have two separate Transactions to account for the PayPal funds. One you manually entered, and the other from Contributions.

What does the contribution transaction show ??
Neil Zampella

Using PC+ since 1999.

bsbrown
Posts: 43
Joined: Mon Feb 03, 2014 12:40 pm

Re: on line contribution fund similar to paypal

Post by bsbrown »

the entire amount given to the contributor.

bsbrown
Posts: 43
Joined: Mon Feb 03, 2014 12:40 pm

Re: on line contribution fund similar to paypal

Post by bsbrown »

I think I see where it's messed up. On the contribution deposit, the entries are 1140, debited and 4040 credited. This is probably where I put in the wrong account in the original set up for the contribution fund.

NeilZ
Posts: 10209
Joined: Wed Oct 08, 2003 1:20 am
Location: Dexter NM
Contact:

Re: on line contribution fund similar to paypal

Post by NeilZ »

bsbrown wrote:I think I see where it's messed up. On the contribution deposit, the entries are 1140, debited and 4040 credited. This is probably where I put in the wrong account in the original set up for the contribution fund.
Well, those are the correct accounts from what you told me. Is the manual transaction the same, or different?? You may have cancelled each other out or something.

The income should appear on the Income/Expense report if the transaction posted as you have listed.
Neil Zampella

Using PC+ since 1999.

bsbrown
Posts: 43
Joined: Mon Feb 03, 2014 12:40 pm

Re: on line contribution fund similar to paypal

Post by bsbrown »

Since I can't reverse the posted system contribution entry, how do I get rid of it. I know I have to change it in the contribution module but am unsure of what to do.

NeilZ
Posts: 10209
Joined: Wed Oct 08, 2003 1:20 am
Location: Dexter NM
Contact:

Re: on line contribution fund similar to paypal

Post by NeilZ »

bsbrown wrote:Since I can't reverse the posted system contribution entry, how do I get rid of it. I know I have to change it in the contribution module but am unsure of what to do.
FWIW ... you can reverse any entry in Powerchurch. Just look it up in the Posted Transactions, and click the reverse button. Yes, you will get the warning notice, but you can still click on OK or CONTINUE and it will reverse. There is no need to change anything in Contributions as that is completely separate database, and the entries there are correct.

However, I always recommend to everyone to do a database backup before you do anything.
Neil Zampella

Using PC+ since 1999.

bsbrown
Posts: 43
Joined: Mon Feb 03, 2014 12:40 pm

Re: on line contribution fund similar to paypal

Post by bsbrown »

Neil - Thank you for your insight. I'm going to just have to take the time to work thru what I need to do, I also always urge users to back up, back up, back up. Am always amazed at those who don't.

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