Contributions and payments
Posted: Mon Jun 17, 2019 10:55 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- 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.
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- 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.