Posted contribution but wrong amount

[songbird331]

I posted a contribution in Fund Accounting but realized after the fact that the amount was incorrect. I reversed the transaction in F/A, but don't know what should be done now. Thank you for your help!!

[songbird331]

the reversal is still in F/A, not posted yet.

[NeilZ]

the reversal is still in F/A, not posted yet.

Was this posting from Contributions ?? How was the transaction created incorrectly? An incorrect amount entered into Contributions?

This info will determine an answer.

[songbird331]

Yes, it was done in contributions...the only thing wrong is the amount. Everything else is right.

[NeilZ]

Yes, it was done in contributions...the only thing wrong is the amount. Everything else is right.

Well, what you should have done was correct the amount in Contributions, enter a negative or positive amount as needed, then post that change from Contributions to Funds Accounting.

If you know what envelope was entered incorrectly, that is where you should make the adjustment.

In 11.x, you can find the contributor in under the View Posted Contributions, and REVERSE that entry. Then you would enter the correct amount to the proper fund.

Posting those updates will create the proper transaction for Funds Accounting.

As an aside, I'm not sure I follow your "the only thing wrong was the amount, everything else was right" ... ??

[songbird331]

So, are you saying to go into contributions and do a reversal, even though I've done the reversal in F/A?
Here are the steps I did:
1. Made the contribution
2. posted the contribution
3. posted transaction in F/A
4. Realized wrong contribution amount
5. REVERSED transaction in F/A
6. reversal still in F/A
7. ??? now what ???
I knew as I clicked to do the reversal it would be wrong. Fingers are working faster than my 'cold' brain today. I apologize.

[NeilZ]

So, are you saying to go into contributions and do a reversal, even though I've done the reversal in F/A?
Here are the steps I did:
1. Made the contribution
2. posted the contribution
3. posted transaction in F/A
4. Realized wrong contribution amount
5. REVERSED transaction in F/A
6. reversal still in F/A
7. ??? now what ???
I knew as I clicked to do the reversal it would be wrong. Fingers are working faster than my 'cold' brain today. I apologize.

Delete the transaction you created in Funds Accounting, and use the one that was created by the system.

You need to correct the Contributions records, for the envelope involved, as well as for the Contributions reporting. If someone decides to audit, and wants to verify what was sent over from Contributions that number will be incorrect.

[songbird331]

OK, I'm a little bit confused.
I reversed the contribution in contributions and posted it in F/A. Now...I need to go back into contributions, locate the envelope number and reverse it there?

[NeilZ]

OK, I'm a little bit confused.
I reversed the contribution in contributions and posted it in F/A. Now...I need to go back into contributions, locate the envelope number and reverse it there?

You reversed in Contributions, how? If you didn't enter a reversing entry for the envelope that had the incorrect entry, then you're not properly reversing the entry.

There are two ways to do this:

1. use the REVERSE button in View Posted Contributions
2. enter an exact duplicate of the original entry in Enter Contributions, with the amount entered as a negative number.

This corrects the envelopes statement, and when posted update the proper Funds Accounting accounts.

If you did one of these steps, then you posted Contributions to Funds Accounting, you corrected the error in Contributions. Then when you post that automatically created transaction in Funds Accounting, you corrected the error in Funds Accounting.

If you ONLY manually entered a transaction (or just reversed the original transaction) in Funds Accounting to correct the FA accounts, then Contributions will not be updated to reflect that correction.

See what I mean ??

[songbird331]

I didn't do a reverse in contributions. I reversed the contribution in F/A. Then you said to DELETE the transaction I 'created' in F/A. This is my first time to make this error. I've not had to make a correction like this before. I apologize. Looking at posted transactions in F/A, I have the incorrect transaction that I REVERSED (by the way, the 'contribution' is only for one person, not a long list of people), and the unposted transaction in F/A is for the reversal. So, if I post that reversal, then I need to go back to contributions and do the actual reversal there?

[NeilZ]

I didn't do a reverse in contributions. I reversed the contribution in F/A. Then you said to DELETE the transaction I 'created' in F/A. This is my first time to make this error. I've not had to make a correction like this before. I apologize. Looking at posted transactions in F/A, I have the incorrect transaction that I REVERSED (by the way, the 'contribution' is only for one person, not a long list of people), and the unposted transaction in F/A is for the reversal. So, if I post that reversal, then I need to go back to contributions and do the actual reversal there?

There are two things that you have to do in such a case:

• 1. You need to correct the contribution entry for the envelope so that the Contributions database reflects the correct donations,and the Contributor gets a correct Contributions Statement or Tax Receipt.
  
  2. You need to update Funds Accounting to correct the income and checking accounts to reflect the correct amounts that were contributed.

There is one rule in Powerchurch Accounting: if the original transaction was created in Payroll, AR, AP or Contributions, you do the fix from those modules so that all the modules reflect what shows up in Funds Accounting.

Now this is why you should delete the manual transaction in Funds Accounting you created.

You should reverse the Contributions entry in Contributions, then enter the correct Contributions entry, post directly to Funds Accounting which will create the FA transaction.

This created transaction will contain all the proper transaction lines to correct the Income and Checking accounts without any human intervention needed

[songbird331]

Thank you...this helps me soooo much. It's done! Sorry to be so difficult. Have a super weekend...

[NeilZ]

Thank you...this helps me soooo much. It's done! Sorry to be so difficult. Have a super weekend...

No problem ... it takes a bit to see how the interconnection works, and why fixes need to be done in the original module.