Contribution fund not appearing in Fund Accounting

[spc.office]

The person entering contributions entered a new contribution fund number and then posted the transaction to Fund Accounting before an associated income account was created and linked to it, so that part of the contribution doesn't appear in the contribution in Fund Accounting. Where does the system put that money in Fund Accounting?

[NeilZ]

The person entering contributions entered a new contribution fund number and then posted the transaction to Fund Accounting before an associated income account was created and linked to it, so that part of the contribution doesn't appear in the contribution in Fund Accounting. Where does the system put that money in Fund Accounting?

It doesn't. If there's no Funds Accounting income account (or liability account) assigned under Contribution Fund, then the only place the number is tracked is within Contributions.

I suspect the person when they posted got an information notice about a fund not being assigned, and just clicked OK without comprehending what just happened.

There is a way around it.

1. Assign a Funds Account income account for that Contribution Fund using the Maintain List of Contribution Funds function in Contributions.

2. Do a FUNDS REPORT from the Contribution Fund to see how much was donated to that account. You probably already know what the amount is since the deposit receipt will show the difference between what was deposited, and what showed up in Funds Accounting, but here you can verify the amount for sure.

3. Here's where you're going to have to decide if you could live with two separate entries showing a deposit for that one day's income or not. When you're ready to do a reconciliation, if you have two separate entries, you're going to see two deposits in the Reconcile screen. On the bank statement you're only going to see one. The total of those two deposit entries will equal the one on the bank statement.

Will your auditors understand what happened?? If not you may need to VOID the original day's contribution transaction in Funds Accounting, and then recreate it adding in the additional funds that did not appear the first time. Thus making this transaction total equal to what the bank sees. This is the option I would take, as in the memo area for the VOID and the replacement I would list as much information as possible as to why the void was done, and the replacement entered.

Were you able to follow this??