on line contributions

Contributions, Faith Promises

on line contributions

Postby athomas » Sat Mar 23, 2019 8:53 pm

We enter all of the on line contributions at month end. Normally these are just posted to contributions as the amount often disagrees with what the vendor actually put in the bank. Some one posted January to fund accounting which of course created a deposit which is incorrect. I can just reverse the fund accounting transaction but want to know if anything else needs to be done. Does this have any affect on the contribution module? Just want to make sure contributors get credit.
athomas
 
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Re: on line contributions

Postby NeilZ » Sun Mar 24, 2019 11:34 am

athomas wrote:We enter all of the on line contributions at month end. Normally these are just posted to contributions as the amount often disagrees with what the vendor actually put in the bank. Some one posted January to fund accounting which of course created a deposit which is incorrect. I can just reverse the fund accounting transaction but want to know if anything else needs to be done. Does this have any affect on the contribution module? Just want to make sure contributors get credit.


Reverse the transaction in Funds Accounting. You will get a message warning that the transaction came from Contributions, click OK. And post that transaction. Include the reason for the reversal in the transaction notes block.

Remember all transactions flow TO Funds Accounting, nothing done in Funds Accounting will change anything in the 'forwarding' modules such as Accounts Payable, Payroll, Contributions, etc.

That said, you should be accounting for any fees paid to the online vendor. You CAN do that when you post Contributions to Funds Accounting. When you post to Funds Accounting, find that Contribution Transaction, and adjust that transaction to DEBIT the Vendor Fees, and REDUCE the amount being deposited to the checking under the CREDIT column. You should leave the INCOME alone, as the income should reflect the full amount that was contributed. It is just as if you were getting the full amount deposited from the vendor, then you sent a check to the vendor. That full amount will show as INCOME, and the vendor fees are the EXPENSE.

If you are reducing your income to reflect the fees, you are understating income. If you are reducing income AND showing an expense, you are doubly charging an expense against the operating fund.

Do you see where I'm going?

Neil Zampella

Using PC+ since 1999.
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Re: on line contributions

Postby athomas » Sun Mar 24, 2019 1:21 pm

I do understand. Have a contribution fund set up for on line offering with an on line deposit account debited and an on line income account credited. When making a deposit to the main account, debit bank account and credit on line deposits. This has always worked fine in the past because the amount put directly in the bank by the vendor always was the same amount received for contributions during the month. However, recently, the on line contributions exported from the vendor site for the month does not equal the amounts being put into the bank accounts cause the deposits cross over month to month lines. Example contributions made in feb and counted as feb contributions may not get deposited in the bank until March; therefore can't transact a deposit for the contributions received and entered into power church cause the figures are different from what was actually deposited by the vendor. This may be redundant but hope it makes sense and you can advise on how to handle.
athomas
 
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Joined: Thu Jan 25, 2018 9:40 am

Re: on line contributions

Postby NeilZ » Sun Mar 24, 2019 1:51 pm

athomas wrote:I do understand. Have a contribution fund set up for on line offering with an on line deposit account debited and an on line income account credited. When making a deposit to the main account, debit bank account and credit on line deposits. This has always worked fine in the past because the amount put directly in the bank by the vendor always was the same amount received for contributions during the month. However, recently, the on line contributions exported from the vendor site for the month does not equal the amounts being put into the bank accounts cause the deposits cross over month to month lines. Example contributions made in feb and counted as feb contributions may not get deposited in the bank until March; therefore can't transact a deposit for the contributions received and entered into power church cause the figures are different from what was actually deposited by the vendor. This may be redundant but hope it makes sense and you can advise on how to handle.


OK ... are they only doing one deposit a month, or is it a multiple set of deposits, but it includes the last Sunday in March, and the next in April?

Not much you can do then, other than what you're doing. Is the vendor taking any fees?

Neil Zampella

Using PC+ since 1999.
NeilZ
 
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Re: on line contributions

Postby athomas » Sun Mar 24, 2019 6:11 pm

Yes fees are accounted for by crediting to 01-1140 and debiting to expense account. Like you said, multiple deposits.
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Re: on line contributions

Postby NeilZ » Sun Mar 24, 2019 8:28 pm

athomas wrote:Yes fees are accounted for by crediting to 01-1140 and debiting to expense account. Like you said, multiple deposits.


Yeah .. you're doing it the only way you can. What I'd do to prevent this in future is under File -> Preferences -> Contribution Setup. Set the posting default to Only Update the Contributions Module.

Neil Zampella

Using PC+ since 1999.
NeilZ
 
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Joined: Wed Oct 08, 2003 12:20 am
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