2 Bank Accounts

[Kristi]

Good morning...I need help ASAP...before next Monday.

We are building a new sanctuary. Up until now we only had one General Operating checking account and a New Sanctuary Fund.

Last week we changed banks and now have a General Operating checking and a Construction checking. Our finance and building committees want all contruction funds separate at all times. We want to quit using the New Sanctuary Fund and deposit the money straight into the Construction bank account.

How do my money counters keep the money separate for 2 different deposits: Operating and Construction?

We have yellow envelopes we use for the construction and I can pull those out, but what about those who write one check for operating and construction?

The counters use a Contribution form on Monday listing all the collections.
However, it only lists Contributions...not Operating and Construction.
Should we just enter all the money and then run the Funds Report to see
how much was entered into Construction, then deduct that amount from the Operating on the report & write Construction with that amount and pull the actual money out for the Const. deposit? I don't want to confuse the counters or get the money all off count. If I do this I won't have a contribution report in PowerChurch that will actually match my bank deposits. My paper trail won't be accuarte.

Can PowerChurch run a separate Bank Deposit Slip report for each bank account ?


Should I just enter everything into the Operating checking account, then run the Funds Report and enter the amount into the Construction bank using a journal entry?

Thank you for your help~
Kristi Schutz
Lea Joyner UMC
Monroe, LA

[Randy B]

I am a little confused by your operating procedures. You say you have a Gen Operating checking account and a new santuary fund. Were these in two different accounting funds and/or two separate bank funds? You now have two separate checking accounts.

I would offer this suggestion based upon what I understand of your situation. Establish two separate accounting funds. One for your general operating and the other for your construction. Establish your general operating accounting so the funds will be in both your general operating accounting fund and in your construction fund. The total of these two accounting funds will equal the total of that bank account.

This will allow you to deposit for those people who write one check. Then when everything checks out, you could write a check from your general operating account for the portion in your construction fund and place it in the construction account. For those who write a separate check you can use your preference as to what bank account to deposit it into.

The part of your general operating account in the construction accounting fund is just a temporary holding account and the majority of funds will be in then construction bank account. I believe this solution based upon what I understand will allow you to make quick deposits, keep separate funds, and not complicate things for your counters.

[Kristi]

Randy,
Sorry for the confusion. Yes I had one checking account and 2 funds...
01 Operations 16 New Sanctuary.

What you are telling me to do is what I had been doing. But now I just write a check from Fund 16 in bank account "A" to be deposited in bank account "B" (construction bank account).

That will also keep me from having to re-create a lot of my Contribution numbers.

Thank you~Kristi

[jeffkoke]

Kristi,

Just change your Contribution Fund for the new building/sanctuary and point it to the new construction checking account as an income line.

You will need to do two deposits and I'm not sure how PowerChurch handles this in the Bank Deposit Slip report.

Make sense?

Jeff

[Kristi]

Jeff,

That was my original intent, but if PowerChurch can't print two separate Deposit slips and the money counters don't want to deduct the Construction totals and risk the count getting off...I see my paperwork getting all confusing.

My banker told me to collect all the money and write a deposit slip. Then I will run my report and write a check for the amount collected for the construction to the construction account, put that check with a deposit slip for my construction bank account and deposit it with the collections. He said it would be easy.

I'll know next week. Thanks...I may end up doing what you suggest after Monday.

Now I have another problem...2 budgets?
God bless you all~Kristi

[jeffkoke]

That was my original intent, but if PowerChurch can't print two separate Deposit slips and the money counters don't want to deduct the Construction totals and risk the count getting off...I see my paperwork getting all confusing.

I would call tech support and ask.

My banker told me to collect all the money and write a deposit slip. Then I will run my report and write a check for the amount collected for the construction to the construction account, put that check with a deposit slip for my construction bank account and deposit it with the collections. He said it would be easy.

This is more work for you, but may be the only easier solution.

I'll know next week. Thanks...I may end up doing what you suggest after Monday.

Yes, please let me know.

Now I have another problem...2 budgets?

I would have to look at the budget function. I think it will depend on how you have your chart of accounts set up. This is another excellent opportunity to discuss with tech support.

Jeff

[Kristi]

Thanks Jeff!

I did call PowerChurch.
They said I can not run separate deposit slips.
I'm now thinking I'll just write the check manually in the morning this time and enter it in PowerChurch after the counters leave. I'll keep you updated.

2 budgets was easy! See my post in Accounting!
Kristi

[NeilZ]

Thanks Jeff!

I did call PowerChurch.
They said I can not run separate deposit slips.
I'm now thinking I'll just write the check manually in the morning this time and enter it in PowerChurch after the counters leave. I'll keep you updated.

2 budgets was easy! See my post in Accounting!
Kristi

Our treasurer just makes an online transfer using the amount listed in either the Funds Report from contributions, or the amount listed when our Financial Secretary posts the contributions.

[Kristi]

Thanks Neil!
That idea hadn't even occurred to me since our internet has been down for a month...and I'm not set up for internet at my new bank yet...I go in Thursday. Hopefully I can give it a try next week!
Kristi