Contributions and payments

Contributions, Faith Promises

Contributions and payments

Postby GEBCbookkeeper » Mon Jun 17, 2019 9:55 pm

Couple questions about how the contributions module should be set up. We were previously not posting our contribution entries to Fund Accounting and would just create a transaction each week. We have now changed the process and are posting to Fund Accounting. However, I noticed that all the Contribution Funds are debiting our checking account, NOT our money market, which is where we deposit all the money. I am working on changing the settings in each fund to point to the correct account. But....on the credit side, does the income account have to be from the same accounting fund?

For example: Our Money Market is 20-1210-000. If a contribution was made to our High school ministry , does the credit have to be a 20-xxxx-xxx account? I'm assuming yes as that's how other transactions are entered, but we don't have all the accounts set up in the 20 fund. Am I making sense? And if a contribution is received to a designated fund 5, would it be the same? Or are the changes made in the transaction in Fund accounting before it's posted?


Next question: if a member pays for a high school camp, or women's retreat, or anything that's not a "donation", what's the best process of entering that in PC? I watched the videos and see you can uncheck "include fund on statements", but if we receive money to our high school fund as donations AND as camp payments, how does that work? Would I set up a separate high school camp fund? Or...create a fund that's just "activity fees" or whatever, and use the designations to keep track of it?

I don't know how it's currently being handled - our counting team lead enters and posts all money that comes in, this is just a question that came up for me and I have yet to find out how our current process is but I have a hunch its not done correctly. I would assume if it were, then payments to camps would show up in posted contributions, just not on the giving statement.


Oh and we are using Version 12.

Melissa Guay
Bookkeeper
Graham Emmanuel Baptist Church
GEBCbookkeeper
 
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Re: Contributions and payments

Postby NeilZ » Tue Jun 18, 2019 11:05 am

GEBCbookkeeper wrote:Couple questions about how the contributions module should be set up. We were previously not posting our contribution entries to Fund Accounting and would just create a transaction each week. We have now changed the process and are posting to Fund Accounting. However, I noticed that all the Contribution Funds are debiting our checking account, NOT our money market, which is where we deposit all the money. I am working on changing the settings in each fund to point to the correct account. But....on the credit side, does the income account have to be from the same accounting fund?

For example: Our Money Market is 20-1210-000. If a contribution was made to our High school ministry , does the credit have to be a 20-xxxx-xxx account? I'm assuming yes as that's how other transactions are entered, but we don't have all the accounts set up in the 20 fund. Am I making sense? And if a contribution is received to a designated fund 5, would it be the same? Or are the changes made in the transaction in Fund accounting before it's posted?


Yes, if you are paying bills from the money market for the High School ministry which is fund (say 10) you would also have added the xx-1210-000 account to that 10 fund, so you would see a 10-1210-000 asset account, and the income account should be a 10-4xxx-000 account.

When you post contributions to Funds Accounting, the system will ensure that the contributions go to the right Accounting Fund, and will reconcile ALL deposits and checks made across all funds against that Money Market.


Next question: if a member pays for a high school camp, or women's retreat, or anything that's not a "donation", what's the best process of entering that in PC? I watched the videos and see you can uncheck "include fund on statements", but if we receive money to our high school fund as donations AND as camp payments, how does that work? Would I set up a separate high school camp fund? Or...create a fund that's just "activity fees" or whatever, and use the designations to keep track of it?

I don't know how it's currently being handled - our counting team lead enters and posts all money that comes in, this is just a question that came up for me and I have yet to find out how our current process is but I have a hunch its not done correctly. I would assume if it were, then payments to camps would show up in posted contributions, just not on the giving statement.


Oh and we are using Version 12.


You should have two separate Contribution Funds, one that is setup to show on the Contribution Statement as a donation, and would then point to an income account in Funds Accounting that reflects 'Camp Donations; and another Contribution Fund for Camp Payments that does not show up on the Contribution Statement, and points to an income account for such payments. I'm assuming that the camp is one that the church runs, so this is income to the church. If not, and this is a type of 'pass thru' to a third party where all funds taken in, are sent to the third party, you may want to use a liability account since this is NOT income to the church.

Neil Zampella

Using PC+ since 1999.
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