Transfering to other funds

[Justine Loker]

I have only been using power church for a couple of months. We just started using a check reader and it seems to be working great. My question is .... How do most of you handle your deposits? We are making 1 deposit a week but are wanting to keep the PM offering separated from the AM offering. We also have other funds within our church that people donate too. If they donate to a specific fund and I have it set up to debit that funds checking, is that all I need to do. Would I have to have a transfer of funds from the General 01 fund to another designated ## fund? I think I am making this a lot harder than it is supposed to be. Thanks for any feedback.

[eulaholland]

This is the way I handle my designated funds. If you only have one bank account, you set up different accounts for each fund etc.01- 1110 general fund 01-1100 choir fund and etc. Do the same with income accounts and expense accounts.Then when you make the deposit, you separate the designated from the general fund deposit and post them to their respective accounts by debiting the check account and crediting the income account. Have I made it clear as mud?

[NeilZ]

I have only been using power church for a couple of months. We just started using a check reader and it seems to be working great. My question is .... How do most of you handle your deposits? We are making 1 deposit a week but are wanting to keep the PM offering separated from the AM offering. We also have other funds within our church that people donate too. If they donate to a specific fund and I have it set up to debit that funds checking, is that all I need to do. Would I have to have a transfer of funds from the General 01 fund to another designated ## fund? I think I am making this a lot harder than it is supposed to be. Thanks for any feedback.

First off, you should be doing all this in the Contributions Module, which will then post to the proper accounts in Fund Accounting.

If you're trying to track the totals from one service to the next, outside of posting the earlier service before you count the later service, you can have your counters perform a funds report at the first service, then you can deduct that report from the total report at the end of the day. Then you can still do your single deposit. Not knowing why you want to keep the offering segregated, that's the best suggestion I can offer.

As far as other funds, again, they are CONTRIBUTIONS, and as such, should be entered through the Contributions module. Your financial secretary should have Contribution Funds setup for these various designated funds. These funds are then setup to post to the individual accounting funds in Fund Accounting.

For example:

In Funds Accounting, the Operating Fund is fund 01, Building Fund is fund 02, Deacons fund is fund 03 and so on.

In Contributions, there is also an Operating Fund, Building Fund and Deacon's Fund. These are designed as Contribution Fund 1, 2 and 3 respectively.

Each one of these Contribution Funds DEBIT the same checking account: 01-1212 however, to track these amounts, they are Credited to 01-4141, 02-4141, and 03-4141 respectively.

I probably can explain it better, but right now ... I'm slightly foggy