How to post Tithely deposits
Posted: Tue May 14, 2019 1:19 pm
We recently began using Tithely and I want to make sure we are entering everything properly. Up until now (I just started as bookkeeper) the Tithely deposit have been entered as a transaction in Fund Accounting so the bank statement would balance, but they have not yet been reported in the Contributions module. I have a couple issues, hopefully I can explain:
1. The transactions were posted to the General Fund, but in looking back, several were noted for other funds, so how do I adjust those transactions?
2. When a member contributes through Tithely, they have to option to either cover the bank fees for that transaction or let the church cover them. How should that be reflected on the Contribution transaction to reflect those fees, whether paid by us or the member?
2a. Should the fees paid by a member be included in the contribution amount that would reflect on their giving statement?
2b. Would those bank fees be considered an expense or liability?
2c. I thought simply setting up a separate "fund" for those bank fees would help us to track that expense but I want to make sure that's correct.
Edited to add: Does the fund report pull contribution amounts only from the contributions module? So as stated above, the deposits that were entered in Fund Accounting will not show up on the report until they are posted in contributions, is that correct?
Thank you!
1. The transactions were posted to the General Fund, but in looking back, several were noted for other funds, so how do I adjust those transactions?
2. When a member contributes through Tithely, they have to option to either cover the bank fees for that transaction or let the church cover them. How should that be reflected on the Contribution transaction to reflect those fees, whether paid by us or the member?
2a. Should the fees paid by a member be included in the contribution amount that would reflect on their giving statement?
2b. Would those bank fees be considered an expense or liability?
2c. I thought simply setting up a separate "fund" for those bank fees would help us to track that expense but I want to make sure that's correct.
Edited to add: Does the fund report pull contribution amounts only from the contributions module? So as stated above, the deposits that were entered in Fund Accounting will not show up on the report until they are posted in contributions, is that correct?
Thank you!