Contribution

Contributions, Faith Promises

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Nomie03
Posts: 3
Joined: Wed Jan 25, 2023 2:52 pm

Contribution

Post by Nomie03 »

What is the correct way to enter a deposit for another account
Meaning we have two checking accounts and usually use the main one and if want money into the other we deposit into main and then transfer. But one if the deposits got deposited directly in the other account.
Do I enter as a journal entry in fund accounting? And if so, I know that I would debit the checking account but what do you credit? Income?

NeilZ
Posts: 10209
Joined: Wed Oct 08, 2003 1:20 am
Location: Dexter NM
Contact:

Re: Contribution

Post by NeilZ »

Nomie03 wrote:
Wed Jan 25, 2023 3:05 pm
What is the correct way to enter a deposit for another account
Meaning we have two checking accounts and usually use the main one and if want money into the other we deposit into main and then transfer. But one if the deposits got deposited directly in the other account.
Do I enter as a journal entry in fund accounting? And if so, I know that I would debit the checking account but what do you credit? Income?
Since you're asking in Contributions, I suspect that the main checking account is the one that gets the Contributions deposits, and that is the main operations checking account.

If I read this right, you're asking what to do if Contributions are accidentally deposited in the wrong checking account? If this is the question you're asking, then you would CREDIT your normal Tithes & Offerings income account.

If that's not what you're asking, please explain it better.
Neil Zampella

Using PC+ since 1999.

Nomie03
Posts: 3
Joined: Wed Jan 25, 2023 2:52 pm

Re: Contribution

Post by Nomie03 »

NeilZ wrote:
Wed Jan 25, 2023 3:44 pm
Nomie03 wrote:
Wed Jan 25, 2023 3:05 pm
What is the correct way to enter a deposit for another account
Meaning we have two checking accounts and usually use the main one and if want money into the other we deposit into main and then transfer. But one if the deposits got deposited directly in the other account.
Do I enter as a journal entry in fund accounting? And if so, I know that I would debit the checking account but what do you credit? Income?
Since you're asking in Contributions, I suspect that the main checking account is the one that gets the Contributions deposits, and that is the main operations checking account.

If I read this right, you're asking what to do if Contributions are accidentally deposited in the wrong checking account? If this is the question you're asking, then you would CREDIT your normal Tithes & Offerings income account.

If that's not what you're asking, please explain it better.
I apologize
Very new to this type of communication
Ok so we are a church
We have main checking acct which we use
And when money is deposited in to other accounts such as women’s account (which for us is completely separated checking acct (same bank) Usually any monies deposited into women’s account is deposited into (church) main checking and then we transfer into the other accounts whether savings or women’s checking. First time ever, we had monies directly deposited into women’s checking account So now I’m trying to figure out how to enter that separate women’s account deposit through power church. I assume I will have to do it through a (I believe it’s called) general ledger

NeilZ
Posts: 10209
Joined: Wed Oct 08, 2003 1:20 am
Location: Dexter NM
Contact:

Re: Contribution

Post by NeilZ »

Nomie03 wrote:
Wed Jan 25, 2023 6:07 pm
NeilZ wrote:
Wed Jan 25, 2023 3:44 pm
Nomie03 wrote:
Wed Jan 25, 2023 3:05 pm
What is the correct way to enter a deposit for another account
Meaning we have two checking accounts and usually use the main one and if want money into the other we deposit into main and then transfer. But one if the deposits got deposited directly in the other account.
Do I enter as a journal entry in fund accounting? And if so, I know that I would debit the checking account but what do you credit? Income?
Since you're asking in Contributions, I suspect that the main checking account is the one that gets the Contributions deposits, and that is the main operations checking account.

If I read this right, you're asking what to do if Contributions are accidentally deposited in the wrong checking account? If this is the question you're asking, then you would CREDIT your normal Tithes & Offerings income account.

If that's not what you're asking, please explain it better.
I apologize
Very new to this type of communication
Ok so we are a church
We have main checking acct which we use
And when money is deposited in to other accounts such as women’s account (which for us is completely separated checking acct (same bank) Usually any monies deposited into women’s account is deposited into (church) main checking and then we transfer into the other accounts whether savings or women’s checking. First time ever, we had monies directly deposited into women’s checking account So now I’m trying to figure out how to enter that separate women’s account deposit through power church. I assume I will have to do it through a (I believe it’s called) general ledger
Basically it will be the same type of transaction that is created when you deposit into the main checking. I'm assuming that this is income of some type, so you will be CREDITing an income account (in a default Powerchurch installation that is usually an account in the 4000 series range).
Neil Zampella

Using PC+ since 1999.

Nomie03
Posts: 3
Joined: Wed Jan 25, 2023 2:52 pm

Re: Contribution

Post by Nomie03 »

NeilZ wrote:
Wed Jan 25, 2023 7:31 pm
Nomie03 wrote:
Wed Jan 25, 2023 6:07 pm
NeilZ wrote:
Wed Jan 25, 2023 3:44 pm


Since you're asking in Contributions, I suspect that the main checking account is the one that gets the Contributions deposits, and that is the main operations checking account.

If I read this right, you're asking what to do if Contributions are accidentally deposited in the wrong checking account? If this is the question you're asking, then you would CREDIT your normal Tithes & Offerings income account.

If that's not what you're asking, please explain it better.
I apologize
Very new to this type of communication
Ok so we are a church
We have main checking acct which we use
And when money is deposited in to other accounts such as women’s account (which for us is completely separated checking acct (same bank) Usually any monies deposited into women’s account is deposited into (church) main checking and then we transfer into the other accounts whether savings or women’s checking. First time ever, we had monies directly deposited into women’s checking account So now I’m trying to figure out how to enter that separate women’s account deposit through power church. I assume I will have to do it through a (I believe it’s called) general ledger
Basically it will be the same type of transaction that is created when you deposit into the main checking. I'm assuming that this is income of some type, so you will be CREDITing an income account (in a default Powerchurch installation that is usually an account in the 4000 series range).
Thanks

SEL
Posts: 5
Joined: Thu Feb 23, 2023 10:10 am

Re: Contribution

Post by SEL »

Our church has two checking accounts as well. Look at Power Church Fund Descriptions. There is a list of all your contribution funds, what the debit account is and what the credit account is. For example, our Operating checking account is 01-1110 and our Foundation checking account is 70-1150. When I double check the Fund Descriptions report, the 2 Funds where our donations to the Foundation go show the debit account as 70-1150. All others as 01-1110. That way the a separate deposit ticket for the Foundation checking account (a split deposit) along with the Operating checking account will funnel the funds to the correct place. No additional journal entry is required. It just like splitting your paycheck between your checking and savings accounts with 2 deposit tickets. The credit account will of course vary depending on the type of donation.

Look at Power Church Accounting Funds report. Your credit will go to either your general fund (01) or one of the other funds you have listed on that report. Be sure the fund # for your second checking account is linked properly. In our case our Foundation account is fund 70.

NeilZ
Posts: 10209
Joined: Wed Oct 08, 2003 1:20 am
Location: Dexter NM
Contact:

Re: Contribution

Post by NeilZ »

SEL wrote:
Thu Feb 23, 2023 10:47 am
Our church has two checking accounts as well. Look at Power Church Fund Descriptions. There is a list of all your contribution funds, what the debit account is and what the credit account is. For example, our Operating checking account is 01-1110 and our Foundation checking account is 70-1150. When I double check the Fund Descriptions report, the 2 Funds where our donations to the Foundation go show the debit account as 70-1150. All others as 01-1110. That way the a separate deposit ticket for the Foundation checking account (a split deposit) along with the Operating checking account will funnel the funds to the correct place. No additional journal entry is required. It just like splitting your paycheck between your checking and savings accounts with 2 deposit tickets. The credit account will of course vary depending on the type of donation.

Look at Power Church Accounting Funds report. Your credit will go to either your general fund (01) or one of the other funds you have listed on that report. Be sure the fund # for your second checking account is linked properly. In our case our Foundation account is fund 70.
While it apparently is the same as your's, the OP actually does not post contributions to the second checking, they are transferred from the main Operating fund. So while the advice is good, it is really not applicable here :)
Neil Zampella

Using PC+ since 1999.

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