Fund Account Transfers
Posted: Mon Jan 30, 2023 10:43 pm
Help!!!! I transferred funds from one account to another account, using only a two-step process: I credited from one account, say, $500, and debited that same amount to the other account. I hit enter and received a message stating that the transaction balanced, or something to that effect. When I saw that message, I rejoiced, and then proceeded to post the transaction (actually, several other transactions that were waiting in the queue to be posted). However, after getting home from work and logging into PowerChurch to continue reading about the Accounting feature on your PDF training document, I learned that this should have been a four-step process.
"For each transaction, we want to balance it credit and debit wise, but we want to balance it credit and debit within each fund. We want the total of debits in that fund to equal the total credits in that fund."
My dilemma: Can my actions be reversed? If not, what can I do to correct this?
Your assistance will be greatly, greatly appreciated. Thank you. Joyce
"For each transaction, we want to balance it credit and debit wise, but we want to balance it credit and debit within each fund. We want the total of debits in that fund to equal the total credits in that fund."
My dilemma: Can my actions be reversed? If not, what can I do to correct this?
Your assistance will be greatly, greatly appreciated. Thank you. Joyce