Love Offering Error

[ngaham]

Hey,
I accidentally put the equity account for love offerings in the debit spot on the contribution fund setup page. We just had a guest come through and now it shows a -373.00 in the Love Offering equity account when it should show a positive 373.00. How should I go about fixing this?

[NeilZ]

Hey,
I accidentally put the equity account for love offerings in the debit spot on the contribution fund setup page. We just had a guest come through and now it shows a -373.00 in the Love Offering equity account when it should show a positive 373.00. How should I go about fixing this?

REVERSE the transaction in Funds Accounting. Then CREATE a new transaction in Funds Accounting to CREDIT the proper account and DEBIT the Checking account. Then update that Contribution Fund accounts page with the proper account to keep it from happening in future.

FWIW .. this type of 'pass thru' offering should be DEBITED to a LIABILITY account, as its a liability to the church since its really NOT income to the church itself.

Again, I always advise doing a backup of the Accounting files using the Powerchurch backup utility.

[ngaham]

The transaction is apart of the entire contributions for the week. Is there any other way to do this other than reversing all of the contributions?

[NeilZ]

The transaction is apart of the entire contributions for the week. Is there any other way to do this other than reversing all of the contributions?

You're NOT reversing the contributions, just the transaction in Funds Accounting. You will get a 'warning' message, but you can ignore that as you're correcting what is essentially a Funds Accounting transaction. The data entered in Contributions is still correct; the issue was due to an incorrect Contribution Fund setup, which has been corrected (I'm assuming).

All you're doing is repairing the damage.

[ngaham]

When I looking at the transaction in fund accounting it lists all of our giving for that week. So if I reverse that transaction, I’ll reverse the tithes and offerings, missions, etc.

[NeilZ]

When I looking at the transaction in fund accounting it lists all of our giving for that week. So if I reverse that transaction, I’ll reverse the tithes and offerings, missions, etc.

Yes, and you need to re-enter them all, but this is the proper way to do it. You basically copy what's already there into a new transaction, just replace the correct account for the incorrect account.

[ngaham]

Ok. Just makes me nervous. Thanks Neil.