Main Checking Account transfer to Proper Fund Process questi

[TammyC]

I am a little confused on this process, and I know that I have already done some improper transfers that I will need to fix, but I'll give you a scenario of one thing (btw, I have searched the topics and have not seen a clear description. I am at home without the book):

Donation of $1000 for Building Fund

What are the transactions I would use for the deposit into General Fund 01-1110 and the transfer to the Building Fund 03?

In addition, the bank reconciliation only reconciles the General Fund or all funds together?

Thank you so much!

[NeilZ]

I am a little confused on this process, and I know that I have already done some improper transfers that I will need to fix, but I'll give you a scenario of one thing (btw, I have searched the topics and have not seen a clear description. I am at home without the book):

Donation of $1000 for Building Fund

What are the transactions I would use for the deposit into General Fund 01-1110 and the transfer to the Building Fund 03?

In addition, the bank reconciliation only reconciles the General Fund or all funds together?

Thank you so much!

Both questions hinge on whether you're using one checking account for general and building fund?

As far as being at home without the book, if you have an installation of v11.55 at home, you should be able to find a copy of the manual in the C:\Powerchurch\PCPLUS115 directory as PCPLUS115.PDF.

[TammyC]

One checking account for all funds, except Savings is separate account. I do not have the CD at home.

[NeilZ]

One checking account for all funds, except Savings is separate account. I do not have the CD at home.

Do you have the program installed at home? The license for the program does allow that.

That said.

All you need to do is setup the CONTRIBUTION FUND in Contributions to point to the Income Account in the Building Fund, and the checking account under that fund.

For Example:

The checking account default number in Powerchurch is 1110-000. For the General fund the full number is 01-1110-000. For the Building Fund it should be 03-1110-000.

Lets say the Tithes & Offerings Income Account for the General Fund is 01-4030-000 (that's the default), and you have 03-4100-000 for the Building Fund's income account.

In the Contribution module, under Maintain List of Contribution Funds lets say you have fund 400- setup for the Building Fund contributions. On the Accounting Tab of the Contribution Fund you should have as the bank account 03-1110-000, and as the income account as 03-4100-000.

When you enter your collection, and then post, the system will create the transactions to properly credit all the income and bank accounts in all the different funds. You don't have to move or transfer ANYTHING around, its done for you.

And YES, if you're writing checks from the checking account, using the 03-1110-000 account on the invoices along with any 03 fund expense accounts (say you have a repair expense account of 03-5100-000) the Bank Reconciliation will reconcile ALL checks written from that bank account.

Does this help??

[TammyC]

Under the Contributions tab:

Building Fund is 13
Checking DR 13-1110-000
Income Acct CR 13-4030-000

By using the Contributions module for this "deposit", these are the entries that will be made. This setup is good? Then, when I write a check, CR cash and DR expense. Good?

[NeilZ]

Under the Contributions tab:

Building Fund is 13
Checking DR 13-1110-000
Income Acct CR 13-4030-000

By using the Contributions module for this "deposit", these are the entries that will be made. This setup is good? Then, when I write a check, CR cash and DR expense. Good?

Looks like a correct setup. When you write a check from the building fund, you should use the 13-1110-000 checking account, and also an expense account under the 13 fund.

The AP module when you create the invoice will use the Checking and Expense Accounts that are setup on the Vendor record, and put the amount being paid in the correct DB and CR columns. If you need to change the accounts to a 13-xxxx- account you can do it there before you save the invoice.

[TammyC]

Thank you so much!