Total Expenses on reports by month!

[falae]

My journal extries are posted correctly, i double checked to total to make sure the total expense does add up in the posted transaction. But after i ran the report by month to compare each month expenses, and income, the total expenses does not add up! Any ideas or reason why this is? and Any ideas on how to fix it?


Thanks

[JohnDMeyers]

Mine was off by $1.88.

I see that the Income and Expense Statement by month uses rounding to the nearest dollar.

In my case, I would say it is round-off error. Is yours off by a lot?

[falae]

Thanks for your input...yes it's off by HUGE margins. Sometimes by over $600. What i don't want to do is post the diff. in misc expenses, because that does not reflect a true picture of our financials!

[JohnDMeyers]

My next questions is what are you comparing?

I see that the "by month" report has an ending date only.

Are you comparing the same range of months in both cases?

[falae]

am pretty much comparing month to month expenses and income! fixed expenses are mostly the same, income changes and tally's with the bank statement. my problem now is the total expenses on the report for at least two months now, don't add up to the total debits on the bank statement! which is why i was talking about crediting cash and debiting misc expenses to factor the differences in...But i am not too comfortable with that.

[Jeff]

Which exact reports are you comparing?

my problem now is the total expenses on the report for at least two months now, don't add up to the total debits on the bank statement!

If you are adding up the debits to the bank account and expecting that to match the total expense for a given month,it may not for valid reasons. Here are just a few reason why they wouldn't match:

Writing a check to pay a liability (ie. paying taxes payable from payroll)
Transfering money from checking to another asset account. (ie. transfering money from checking to a money market account.)

I am sure there are other reasons, those just came to me as quick examples.

Have you compared the check register in PowerChurch to your bank statement? Are there entries missing from one or the other?

[falae]

Holy! Thanks Jeff! Yes you are absolutely right! for the two month that i was talking about, we transfered cash from our church checking account to money market savings or our building fund! so in my journal entries i credit cash(checking a/c) and debited Building use account! when i ran the report under fund accounting, the income was less the transfer figure and there was a credit to building use income!

The differences in the total expenses & compared to the bank are the transfers that i journalized and ofcourse rounding errors! Thank You so much! PROBLEM SOLVED!

[falae]

Also thanks John D Meyers! for your help! I have another post about contribution summary for individuals on the contribution

Below is the link, i'd appreciate every help!

http://www.powerchurch.com/forum/viewto ... f=4&t=4413


Thanks