Reconciling bank statement

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glowe275
Posts: 4
Joined: Thu Mar 20, 2014 2:14 pm

Reconciling bank statement

Post by glowe275 »

The church has a contribution fund that I am beginning to balance thru power church. There are funds in additions and subtractions when I go in to reconcile bank statement. How can I zero our each balance before I start to balance as of May 1, 2014 bank statement or what is the procedure to balance with the May bank statement.

Jeff
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Re: Reconciling bank statement

Post by Jeff »

I don't know if I understand what you are trying to accomplish. Is this a checking account you set up for a particular purpose?

A contribution fund is an area that people give to. Contribution Funds show on people contribution statements to tell them how much they gave to that particular area.

It sounds like you are in the fund accounting side, what type of account have you setup in accounting?

glowe275
Posts: 4
Joined: Thu Mar 20, 2014 2:14 pm

Re: Reconciling bank statement

Post by glowe275 »

Jeff wrote:I don't know if I understand what you are trying to accomplish. Is this a checking account you set up for a particular purpose?

A contribution fund is an area that people give to. Contribution Funds show on people contribution statements to tell them how much they gave to that particular area.

It sounds like you are in the fund accounting side, what type of account have you setup in accounting?
Hi Jeff,
Sorry it took so long for a reply, had death in the family.

This account is a checking account used for benevolence which receives contribution funds which shows on people contribution statement and also funds which are just throw into a basket. It will be on the fund accounting side and checks are written when their is a need from the community. It was being administered and monitor, but I thought is should be balanced just as our general checking is balanced each month.

NeilZ
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Re: Reconciling bank statement

Post by NeilZ »

glowe275 wrote:
Jeff wrote:I don't know if I understand what you are trying to accomplish. Is this a checking account you set up for a particular purpose?

A contribution fund is an area that people give to. Contribution Funds show on people contribution statements to tell them how much they gave to that particular area.

It sounds like you are in the fund accounting side, what type of account have you setup in accounting?
Hi Jeff,
Sorry it took so long for a reply, had death in the family.

This account is a checking account used for benevolence which receives contribution funds which shows on people contribution statement and also funds which are just throw into a basket. It will be on the fund accounting side and checks are written when their is a need from the community. It was being administered and monitor, but I thought is should be balanced just as our general checking is balanced each month.
Is this a separate checking account, or are the checks being written out of the general fund?

If a separate account, with separate monthly statements, then yes, it should be reconciled monthly. If the money is coming out of the general fund, then the main checking would take care of that.

Now, to reconcile the account starting in May, you would use the May statement and that statement date, and proceed through the normal reconciliation process making sure you're using the correct funds accounting number for that checking account. Once you finish with May, then move on to June's.
Neil Zampella

Using PC+ since 1999.

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