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-381000-737235ConnectNow Church Accounting: Ledger and Payables Training GuidePub T219, March 2014 Web: xe "Email: ParishSOFT"Email:info@info@xe "Technical support"xe "Support:phone and email information"support@ support@xe "Phone numbers:for ParishSOFT"Phone:(734) 205-1000 main(866) 930-4774 supportFax:(734) 205-1011? 2013 ParishSOFT LLC, all rights reserved.ParishSOFT grants licensed users the rightto unlimited duplication of this publicationfor internal use. PUBT418-2014Contents TOC \o "1-3" \h \z \u Introduction PAGEREF _Toc384108424 \h 5Closed Accounting System PAGEREF _Toc384108425 \h 5Reporting PAGEREF _Toc384108426 \h 5Training Guide PAGEREF _Toc384108427 \h 5Functionality and Privileges PAGEREF _Toc384108428 \h 5Navigation PAGEREF _Toc384108429 \h 6Users and Permissions PAGEREF _Toc384108430 \h 7Creating A User PAGEREF _Toc384108431 \h 7Permissions PAGEREF _Toc384108432 \h 8System Setup PAGEREF _Toc384108433 \h 9Set User Options PAGEREF _Toc384108434 \h 9Set Up Vendor Terms PAGEREF _Toc384108435 \h 10Set Up Vendor Types PAGEREF _Toc384108436 \h 10Account Entry - Diocesan PAGEREF _Toc384108437 \h 11Sub-Account Entry PAGEREF _Toc384108438 \h 11Account Entry - Non-Diocesan PAGEREF _Toc384108439 \h 12Entering Vendors PAGEREF _Toc384108440 \h 13Add New Vendor PAGEREF _Toc384108441 \h 13Vendor Account Distribution PAGEREF _Toc384108442 \h 14Vendor 1099/Checks PAGEREF _Toc384108443 \h 15Check Printing Options PAGEREF _Toc384108444 \h 151099 Information PAGEREF _Toc384108445 \h 15Projects PAGEREF _Toc384108446 \h 16Set Up Projects PAGEREF _Toc384108447 \h 16Bills PAGEREF _Toc384108448 \h 17Entering Bills PAGEREF _Toc384108449 \h 17Find a Bill PAGEREF _Toc384108450 \h 21Checks PAGEREF _Toc384108451 \h 22Check Layout PAGEREF _Toc384108452 \h 22Printing Checks PAGEREF _Toc384108453 \h 23Voiding Checks PAGEREF _Toc384108454 \h 25Deposits PAGEREF _Toc384108455 \h 26Entering Deposits PAGEREF _Toc384108456 \h 26Importing a Payroll PAGEREF _Toc384108457 \h 28Journal Entries PAGEREF _Toc384108458 \h 28Entering Journal Entries PAGEREF _Toc384108459 \h 28Credit Cards PAGEREF _Toc384108460 \h 29Set up Credit Card Account PAGEREF _Toc384108461 \h 30Reconciling Credit Cards PAGEREF _Toc384108462 \h 30Bank Reconciliation PAGEREF _Toc384108463 \h 31Memorized Transactions PAGEREF _Toc384108464 \h 33Editing Memorized Transactions PAGEREF _Toc384108465 \h 33Budget Entry PAGEREF _Toc384108466 \h 34Edit Budget Amounts PAGEREF _Toc384108467 \h 35Beginning Balances PAGEREF _Toc384108468 \h 36Entering Beginning Balances PAGEREF _Toc384108469 \h 36Reporting End of Month Reporting PAGEREF _Toc384108470 \h 37Financial Statements PAGEREF _Toc384108471 \h 38Statement of Financial Position PAGEREF _Toc384108472 \h 38Statement of Activities PAGEREF _Toc384108473 \h 39Check Register PAGEREF _Toc384108474 \h 40Account Balance PAGEREF _Toc384108475 \h 41Budget Reporting PAGEREF _Toc384108476 \h 42End of Month Process PAGEREF _Toc384108477 \h 43End of Year Process PAGEREF _Toc384108478 \h 44Close a Fiscal Year PAGEREF _Toc384108479 \h 44Reference Information PAGEREF _Toc384108480 \h 45Cash or Accrual? PAGEREF _Toc384108481 \h 45Reporting Dedicated and Restricted Funds PAGEREF _Toc384108482 \h 45xe "Introduction"xe "data conversion"xe "data conversion"IntroductionConnectNow Ledger & Payables brings you a powerful, fully featured fund accounting system with the freedom of anytime, anywhere access, and the peace and security of tracking all users of the system. The ConnectNow family of Church Accounting modules includes: Ledger & Payables and Payroll, with additional modules Accounts Receivable, Fixed Assets, and Purchase Orders available at a later date. ConnectNow Church Accounting is written for both the ParishSOFT and Church Management Solutions which are affiliated companies.Closed Accounting SystemLedger and Payables complies with Financial Accounting Standards Board (FASBxe "FASB compliance") requirements for closed accounting systems to help you safeguard your financials. No edits will be allowed to saved entries in a closed period, and changes to entries are tracked in a log file. While you cannot make changes to a closed accounting period, you can continue to work in future fiscal accounting months. This grace period allows you to wait for all bank statements and transactions for the current fiscal month that don’t appear until the next fiscal month, before closing the month. Reportingxe "reporting:history"Ledger and Payables offers full reporting on historical data for all prior years, so you can quickly access the records you need at any time. You can even work in next year’s file without having to close the current year. Its web-browser interface makes it easy for anyone in your parish to use. Any time you need to see what makes up any number from the financial report, just double-click and view the transactions—no lengthy searching is required.Training GuideThe examples shown in this document use demonstration data and do not represent the actual records of any church, parish or diocese. Functionality and PrivilegesBecause this guide covers functionality for both standalone church accounting systems and those hosted by parent organizations, some of the options illustrated may not be available to you. Login-based system privilege settings may also render certain functions unavailable to your user account. Ledger and Payables provides four different system privilege levels: diocesan administrator, diocesan user, church administrator, and church user. The church administrator can do a journal entry to a closed month and can extend that capability to other users as necessary. Please contact your organization’s Ledger and Payables administrator to request additional system privileges. NavigationThe upper right of the screen shows your login information, diocese, parish name, and current fiscal month and year. Navigation icons for Accounts, Bills, Checks, Deposits, Journal Entries, Vendors and Credit Cards are available on the left side of the screen and provide fast, easy access to the data entry screens. On the right side of the screen are icons for Memorized transactions, Process functions (i.e., Beginning Balance, Bank Reconciliation, Budget, and End of Month), Setup (i.e., Check Layout, Funds, Projects, User Options, Vendor Terms, and Vendor Types), and Reports. Click with your mouse to open any data entry or list screen. The web site and telephone number of ParishSOFT Support is found directly under the data entry and list icons, as well as links to emailing a support question, viewing and printing the user’s guide and any release notes related to recent updates.2676525156210The space below provides real time data for items such as bills to pay, memorized transactions, etc., with charts that provide a true dashboardxe "dashboard" of the financial information that is most vital to your office. Users and PermissionsCreating A User362902546355xe "user account:create new"Click the Church Manager tab 3495675132080Click the Add a New User button. EnterUser Name = (Enter your name or title here) plus 1234Password = password1Confirm Password = password1NOTE: A username unique to the ConnectNow system-wide. If the username has previously been entered or deleted, you be prompted to enter a unique username. The Force Password Change box will be checked by default for new users.This option requires the user to set a new password during his/her initial login. EnterFirst Name = (Enter your first name here)Last Name. = (Enter your last name here)Select the Role – Parish User (e.g., Church User or Church Administrator)Church Administrators can create user accounts, reset passwords, and deactivate a user account. Although you can have multiple Church Administrators, we recommend that you limit the Church Administrator account to a single user.Enter your email address.The Active box will be checked by default to activate the user’s account.Click Submit. NOTE: If you work for multiple parishes in your Diocese, contact your Diocesan Representative to create a Consolidation User account. Consolidation Users have a single sign-on to access multiple parishes’ data.PermissionsWe have set up a User and now we can decide what you do and do not want them to access. 3781425260354038600184785Click the Church Manager Click on the Permissions Page Use the Quick Find option to select the user294322518611853019425254635228600254635Click Select Person.Remove the checkmarks in the columns Read, Allow/Write and Delete next to the items for which you do not want them to have access.33813751494790Church administrators can now set user permissions for individual entities in the Chart of Accounts. This feature enables church administrators to specifically control which entities each user has access to (for example, John has access to the School entity but not the Church and Cemetery entities). To restrict the user’s access to an entity, check (to clear) allowed check box for the Entity and click Submit.2712085782320Entity Level Permissions allows users to see bank accounts and accounts payable accounts from other entities by default. Many times users need to use a different entities bank account to pay bills etc. If you want to turn off any ability to see across entities, go to Church Manager - Options and put a check in Entity Level RestrictionsSystem SetupSet User Options4057650353060xe "user options settings"All of your Account lookup tables are sorted according to the preference that you set under this window. Choose the setting that you prefer to make fast work of finding accounts as you enter transactions in the system. Click the Setup button, and choose User Options.237172550800Choose Code, Description, or Shortcut under the Account Format lookup and click Submit.Example of Account Format OptionsDescription:Petty Cash: A-1-10-01 100Shortcut:100: Petty Cash A-1-10-01Code:A-1-10-01: Petty Cash 100If your church has many transactions in your monthly Bank Reconciliation, you may choose the Add Recalculate Button to Bank Reconciliation. This will turn off the automatic calculation in the Bank Reconciliation which may speed up the process for Bank Reconciliations over 500 line items.If selected the account format Code, you can Remove the Account Code Dashes for easier entry.You can choose to turn on a Memorized Transaction Reminder which will remind you each time you log in if you have Memorized Transactions that need to be processed. You can choose your Default Bank Account that will come up the first time you go to enter Bills, Deposits or Journal Entries. (Note: Accrual Accounting systems will also set a default A/P Account for Bills)342900160655Set Up Vendor Termsxe "vendor terms:set up"Vendor Terms (e.g., cash, net 30 days, 2% if paid in 10 days, etc.) that you create in the Setup window will automatically populate any bills that you create for this vendor. 4505325323853657600612775Click the Setup button and click Vendor Terms. Once you add a Vendor Terms to each Vendor, ConnectNow will automatically insert the Due Date and Discount Date when you create a bill for that vendor. Using Vendor Terms is a time saver in reducing data entry even if you do not utilize discounts. Simply setup terms that are ‘Cash’ , Net 10, Net 20, etc.Note: “Vendor Terms Code” is only defined when using Positive Pay.ActivityEnter the following Vendor TermsDescription – Net 30Vendor Terms Code – Leave BlankDisc. Days – o Disc % - 0Net Days – 30Set Up Vendor Typesxe "vendor types:set up"Vendor Types are categories that you can associate with each vendor record that you set up in your system. Vendors with assigned types can be organized for reporting and searches.3305175709930Click the Setup button and click Vendor TypesEnter the Description "Utilities”Click Submit551497547625Account Entry - DiocesanYour diocese has provided you with a full Chart of Accounts that you will use. These accounts have been inserted into your ConnectNow Fund Accounting system and are ready to use. 3181350165735Click on the Accounts IconWhen in the New Account Screen, click the Chart of Accounts (Add Sub-Account) link.The items without a checkbox have already been inserted from the Diocesan Full Chart of Accounts into the Parish’s Chart of Accounts.The items with a checkbox have not yet been inserted in the Parish’s Chart of Accounts.Find the Account Type Expense, the Entity Parish and the Description, MERGEFIELD Harters_Desc_AC2 Rental Expense E-10-10-45-00-7800-7804-000Check the box at MERGEFIELD Harters_Exp_Acct2 7804.000.10.45.00 MERGEFIELD Harters_Desc_AC2 Rental Expense E-10-10-45-00-7800-7804-000 to insert into your Parishes’ Chart of Accounts.Click Submit.Sub-Account EntryYou may also add sub-accounts to your system, should you need more specific accounts for your Parish.Click the Chart of Accounts (Add Sub-Accounts) link. Choose the Account Type of Asset, Entity Parish and Category Cash in Bank, and click Search.4371975271145Click the Add Sub-Account link under MERGEFIELD Bank_Acct 1101.000.10.45.00 MERGEFIELD Bank_Desc Operating Accounts MERGEFIELD Bank_AC A-10-10-45-00-1100-1101-000.The system will copy all of the elements of the account, allowing you to change the Description and Shortcut Number.Shortcut Numbers should follow Diocese format. Use the same number as the Description before the period ( . ) and the Alpha Abbreviation of the original shortcut number. Change the two digits after the period ( . ) to match the Sub-Account number.NOTE: When inserting or adding your Bank Account, you were prompted to insert the Interest Income and Service Charge Expense Account for the bank. This information will remain with each bank account and when you complete a Bank Reconciliation, the system will create an automatic Journal Entry recording any interest income earned or bank service charge incurred.Click Submit.Account Entry - Non-DiocesanWe will enter some accounts here to familiarize you with the process. The full section on creating accounts can be found later in this manual.37814256985Let’s start by creating a Bank AccountClick on the Accounts Icon2428875178435When the New Account Screen opens enter the following: Description: Wells Fargo CheckingAccount Type: AssetShortcut: 114Entity: 1 Parish OperationsClass: 11 CheckingSequence: 050.00Bank Account: YesService Charge Acct: 5206 Bank Charges Interest Acct:4140 Interest IncomeClick Submit when finishedNOTE: When you entered your Bank Account, you were prompted to insert the Interest Income and Service Charge Expense Account for the bank. This information will remain with each bank account and when you complete a Bank Reconciliation, the system will create an automatic Journal Entry recording any interest income earned or bank service charge incurred.NOTE: When you entered your Bank Account, you were prompted to insert the Interest Income and Service Charge Expense Account for the bank. This information will remain with each bank account and when you complete a Bank Reconciliation, the system will create an automatic Journal Entry recording any interest income earned or bank service charge incurred.Entering Vendors3619500180340Add New Vendor To add a new vendor, click the Vendors icon 2886075257175Enter the information on the Vendor screen: Vendor Namexe "Vendor Name" (required) – Harters Trash and RecyclingCheck Namexe "Check Name"xe "vendor:name on check"xe "vendor:address information"xe "vendor:account number" (required) - Harters Trash and RecyclingVendor Code – Leave BlankAddress – 2850 Larson Street City - LaCrosseState – WIZIP Code – 54503Account Number - 123456789xe "Account Number:of vendor"Terms - Net 30xe "vendor:type"xe "Type:of vendor"Type – UtilitiesClick the Submit button to save the record. The Vendor’s name will now be available from the Vendor lookup tables in the software. NOTE: The xe "vendor:account distribution window"xe "vendor:1099/checks window"xe "vendor:credit/notes window"Account Distributionxe "Account Distribution:in vendor record", 1099/Checksxe "1099/Checks:in vendor record", and Credit/Notesxe "Credit/Notes:in vendor record" options at the top of your Vendor screen will be dimmed/unavailable until you have clicked Submit to save the new vendor record. Vendor Account Distributionxe "Account Distribution:in vendor record"4829175-177165xe "vendor:account distribution window"To save yourself data entry time, you can use ConnectNow’s Vendor Account Distribution feature. This will allow you to enter the Expense, Liability, and/or Dedicated Accounts you normally use when paying this vendor’s bills. Click the Vendors icon on your toolbar and find and view the vendor record. Click Account Distribution. Enter the Accounts MERGEFIELD "Harters_Exp_Acct1" 7602.000.10.45.00 MERGEFIELD "Harters_Desc_AC1" Gas and Electricity MERGEFIELD "Harters_Exp_Acct2" 7804.000.10.45.00 MERGEFIELD "Harters_Desc_AC2" Rental Expense E-10-10-45-00-7800-7804-000Select Distribution Method of Percent and use 75.00 and 25.00 for each accountsYou can use either Percentage or AmountAmount will automatically fill in a specific dollar amount when a bill is created for the Vendor. You can change the amount if needed on the bill333375274320Percentage – Must Equal 100 and will distribute the bill amount accordingly MERGEFIELD Harters_Exp_Acct1 7602.000.10.45.00 MERGEFIELD Harters_Desc_AC1 Gas and Electricity MERGEFIELD Harters_Exp_Acct2 7804.000.10.45.00 MERGEFIELD Harters_Desc_AC2 Rental Expense E-10-10-45-00-7800-7804-000Click the Submit button to save the account distribution information to the vendor record. 431482512700Each time you enter this vendor on a new bill, you will be asked if you wish to apply the distribution options to the bill. Click OK to apply the distribution, or click Cancel to add a bill without the distribution amounts.Once the accounts are listed on the bill entry window, you can choose to leave the distribution as is, or edit and/or delete the accounts automatically inserted as needed!Vendor 1099/ChecksUse the 1099/Checks link to mark vendors for year-end 1099s, set printing options for a specific vendor, or to create a 1099 form. xe "vendor:1099/checks window"xe "1099/Checks:in vendor record"Check Printing Optionsxe "vendor:check printing options"Vendor checks can be printed separately for each bill or combined into one check if there are more than 10 bill items being paid at one time. Check the box to match your preference. 1099 InformationWhen you check the Print 1099 box, the system will recognize and track all payments made to this vendor in order to run 1099s at year-end. 64770069850NOTE: You can enter a Check Memo that will default in the memo line of each check you write. It CAN be edited on individual checks as needed.NOTE: Non-Incorporated Vendors to whom you have paid over $600 in the calendar year for goods or services must receive a 1099 from your organization. We recommend you have your vendors provide you with a W-9 form prior to contracting work.NOTE: You can enter an Adjustment amount for the year, if needed, should you record payments to the vendor outside of ConnectNow. ActivityCreate New Vendors with the following Data:Name: ABC Computing–121 Byte Avenue. Novato, CA 94947 p.415-897-7417Account Distributions: MERGEFIELD ABC_Exp_Acct1 7430.000.10.45.00 MERGEFIELD ABC_Exp_Acct_Desc_AC1 Telephone & Internet Expense E-10-10-45-00-7430-7430-000(50%) MERGEFIELD ABC_Exp_Acct2 7407.000.10.45.00 MERGEFIELD ABC_Exp_Acct_Desc_AC2 Office Service Contracts E-10-10-45-00-7400-7407-000 (50%)1099 – YesAdjusting Entries: 2013: $786.00Name: Oasis Inn– no address availableAccount Distributions: MERGEFIELD Oasis_Exp_Acct 8101.000.10.45.00 MERGEFIELD Oasis_Exp_Desc_AC Food and beverages Percent 100%Name: Verizon Wireless – PO Box 25505 Lehigh Valley, PA 18002-5505 p.800-922-0204ProjectsSet Up Projects xe "project:set up"You can create projects and affiliate specific bills, deposits, and journal entries with those projects to allow for easy reporting on special things such as a church festival, craft show, or other event. Projects allow you to track ledger and payables for specific events without having to create special accounts. 459105016510Click the Setup button, and click ProjectsType the Description “Spring Festival” for the projectLeave Project Code blankEnter the Revenue Budget for the ProjectEnter the Cost Budget for the Project2495550143510Click Submit. Using Projects, you will be able to track special events in the church without having to clutter your Chart of Accounts with redundant account entries. You’ll be able to Budget the project and report (Reports | Transactions | Projects) if your project came within your budget!BillsEntering Bills4629150234950Each time you need to print a check, record a manual or an electronic funds transfer, you must first enter the information for the bill. Click Bills from the dashboard, then choose “New Bill” Choose your Bank Account or Accounts Payable AccountWe will use the MERGEFIELD Bank_Acct 1101.000.10.45.00 accountUse the drop down list to select the Verizon Wireless vendor. Type a “V” to quickly drop down to Verizon.Enter the following Bill information Invoice Date: Invoice Number: 555-55555Expense Account: 7430.000.10.45.00 Telephone & Internet Expense E-10-10-45-00-7430-7430-000Amount of Bill: 154.23 Click Submit when completed112395071755NOTE: Bills that are paid on a regular basis can be Memorized. You can create multiple Memorized transactions each month with just a few clicks. Memorize a BillBills that are paid on a regular basis can be memorized. 3266440270510On your Verizon Wireless Bill, click the Memorize buttonEnter the following: Description: Pastors Cell Phone BillFrequency: MonthlyClick the checkbox at “Use zero amounts on future transactions?”This is used if the amount of the bill changes each monthClick “Submit”Now we will create a Bill for a vendor with Account Distributions.Click Bills, then New Bill.Choose your Accounts Payable Account or MERGEFIELD Bank_Acct 1101.000.10.45.00 MERGEFIELD Bank_Desc Operating AccountsClick the dropdown to select our Vendor – Harters Trash and Recycling3305175111125When you are asked to apply the distributions already set up for this vendor, choose – OKWhen the Vendor Distribution screen comes up, type in the total amount of $50099885562230The bill will split the amount between the accounts you specified earlier. You can use the automatic distribution or change the Bill to any Expense accounts you want to use.Click the Memorize button to memorize this reoccurring Monthly bill. Use the Description Garbage Bill and use zero amounts on future transactions, then click Save.The bill is ready to complete, hit Submit to finish the bill creation.You can flag a 1099 Vendor on the fly by checking the 1099 box. All previous transactions for this vendor will be included in their 1099.For 1099 Vendors already flagged, you can remove the checkmark at 1099 if this item should not be included in the 1099 calculation (i.e. Reimbursements).Now we will create a bill for a New Vendor.3238500226695This Vendor is not in the system yet. To add them on the fly click the New Vendor link.29527558420 The window opens to enter the Vendor informationName:Advance Church Publications4150 19th AvenueChicago, IL 60812After entering the vendor, Click SaveInvoice Date: Today’s DateInvoice Number: 1234567 Expense Account: 7455.000.10.10.00 Missalettes and Books E-10-10-10-00-7400-7455-000Amount of Bill: 50.84 Enter the following bill information:Enter the Comment Brochures; this comment will print on the check stub.Choose the Project Spring Festival.Click Submit when completed.Invoice Date: 4/8/2009Due Date: 5/8/2010Expense Account: 5242 Church Water Sewer Garbage Amount of Bill: 50.84 Let’s say you ordered a dozen pizzas from Oasis for Youth Education’s Summer Blitz and you wrote out a manual check. 3924935-95250Find the Vendor Oasis Inn and enter the date of the check as the Invoice Date. Enter Invoice Number 397286.Enter the Account MERGEFIELD Oasis_Exp_Acct 8101.000.10.45.00 MERGEFIELD Oasis_Exp_Desc_AC Food and beverages and enter the amount of the check in the Amount column. You can enter Summer Blitz in the Comments, if this is an event you don’t need to track under Projects.3543300815975Click the Assign Check Number link. MERGEFIELD Oasis_Exp_Acct 8101.000.10.45.00 MERGEFIELD Oasis_Exp_Desc_AC Food and beverages2857528575Enter the Check Number you used when you created the manual check, and the Check Date, and click Save.NOTE: The check information now displays on the bill window and this bill will not appear when printing checks. 2857577470NOTE: You can also use this process to assign an electronic check number if you paid the bill online. Simply enter a check number that begins ETF, ACH or E and use the Transfer Confirmation Number provided by your bank, vendor or ePay provider. Checks that begin with alpha characters do not affect the next available check number feature.ActivityCreate Bills (edit if needed) and Assign Manual Check Number when indicated:ABC Computing – $275.00Date: CurrentInvoice Number: 98-7654Expense: Use the Distribution you set up for this Vendor.Oasis Inn - $28.00Date: CurrentInvoice Number: 397290Expense: MERGEFIELD Oasis_Exp_Acct 8101.000.10.45.00 MERGEFIELD Oasis_Exp_Desc_AC Food and beveragesProject: Spring FestivalCheck Number – 12474Advance Church Publications - $500.00Invoice Number: 1234567 (note message regarding invoice number)Expense: MERGEFIELD ACP_Exp_Acct1 7455.000.10.10.00 MERGEFIELD ACP_Exp_Acct_Desc_AC1 Missalettes and Books E-10-10-10-00-7400-7455-000 $250.00 & MERGEFIELD ACP_Exp_Acct2 7455.000.10.45.00 MERGEFIELD ACP_Exp_Acct_Desc_AC2 Missalettes and Books E-10-10-45-00-7400-7455-000 $250.00 Check Number – EFT1234567Bank: MERGEFIELD Bank_Acct 1101.000.10.45.00 MERGEFIELD Bank_Desc Operating Accounts MERGEFIELD Bank_AC A-10-10-45-00-1100-1101-000342074594615Find a BillClick the Find Bill link on the Bill Entry Screen Search for the bill by VendorChoose Verizon Wireless from the dropdown menu460375343535Click the button next to the Verizon Wireless Bill we just created.Checks Check Layout4781550213360Before we begin our check creation process, we will need to make sure that our checks will print correctly from the system.To set up your checks, click the Setup icon on your Ledger & Payables toolbar and choose Check Layout.Select the Bank Account for the checks you’d like to set up. Choose the option for the check stock you currently use. 2600325277495We will go with the Check-Stub-StubClick the Print Test Check button at the bottom of the display to print a test check on blank paper. Once the check has been adjusted, click Save Settings and the system will store your adjustments.-57150874395You will need to be sure you have the Adobe Reader installed, and since all reports are printed in a separate window/tab, be sure you have allowed pop-ups for this site. DioceseIf, when you print the first time, you see that the pop-ups are blocked, click the Options for this Site button and choose Always Allow then attempt to print the report again.Printing ChecksNow, we will print checks for the bills we just entered.NOTE: If your church only uses Manual Checks, you can assign the check number directly on the Bill Entry Screen and you will not be required to go through this process to assign check numbers. Select the Bank Account that the checks will be paid from and all of the bills associated with that bank will display.Enter the Check Date and verify the Beginning Check Number (you may edit this number if needed).xxxx19050209550Place a checkmark in the Pay column to pay the bill.We are only going to pay a portion of the Harters Trash & Recycling bill, click the Edit button MERGEFIELD Harters_Exp_Acct2 7804.000.10.45.00 MERGEFIELD Harters_Desc_AC2 Rental Expense E-10-10-45-00-7800-7804-000271145211455 MERGEFIELD Harters_Exp_Acct1 7602.000.10.45.00 MERGEFIELD Harters_Desc_AC1 Gas and ElectricityNOTE: The system will hold the unpaid portion of the bill to be paid at a later date.We will uncheck the MERGEFIELD Harters_Desc_AC2 Rental Expense E-10-10-45-00-7800-7804-000 item on the bill, then click Save.Click Print Checks.Review the checks listed for accuracy and click Create Checks. Review the Check Number, Vendor and Dollar Amount.NOTE: You can edit the check memo on this page as well. Click Print Selected.The check will appear in a PDF window, allowing you to review.-142875537210You will need to be sure you have the Adobe Reader X installed, and since all reports are printed in a separate window/tab, be sure you have allowed pop-ups for this site. DioceseIf, when you print the first time, you see that the pop-ups are blocked, click the Options for this Site button and choose Always Allow and attempt to print the report again.The check will appear in a PDF window, allowing you to review.Click the Print button located in the upper left corner of the display.19050125730Close the Check Print Preview screen.If all of the checks printed successfully, in this case we will assume “yes”.When you have confirmed the checks printed correctly, they are assigned to the bill.NOTE: If only SOME of the checks printed successfully and some did not (printer jammed, grabbed two checks, etc.) check the “Some Checks did not print correctly, First Incorrect check” and put the number of the first incorrect check. Click Submit.You will return to the check printing screen and you can attempt printing again.NOTE: If NONE of the checks printed successfully (printer ran out of ink, etc.), choose “I didn’t print any checks” and you will return to the check printing screen.Voiding ChecksClick Checks icon on your Ledger & Payables toolbar. 406717583185Select the Find Checks link. Click the Go button next to the Oasis Inn Check for $28.Click the Void Check button at the bottom of the display.Enter the Void Date. Click on the Calendar to select date. If you need to re-issue a check for this bill, click the checkbox at Make a new copy of the original bill for repayment. Click Save.A Journal Entry reversing the effect of the check will be automatically created and the original bill and check number will remain in the system for audit purposes.DepositsEntering DepositsWe are going to enter a deposit for Sunday’s Giving and a Special Fundraiser. 421957564135Click Deposits icon on your Ledger & Payables toolbar. Select the Bank Account Enter the Date of Today's Date.ConnectNow will automatically insert a unique Deposit Number for you.Enter the Income or Dedicated Accounts and enter the Amount of the deposit for that account.Income Account: 5101.000.10.45.00 Regular Collections I-10-10-45-00-5100-5101-000Amount = $5296.12Income Account: 5404.000.10.45.00 Fund Raising Programs I-10-10-45-00-5400-5404-000Amount = $575.00 MERGEFIELD Weekly_Offering_Acct 5101.000.10.45.00 MERGEFIELD Weekly_Offering_Description_AC Regular Collections I-10-10-45-00-5100-5101-000 MERGEFIELD Other_Income_Acct 5404.000.10.45.00 MERGEFIELD Other_Income_Desc_AC Fund Raising Programs I-10-10-45-00-5400-5404-000The Second line of our deposit we want to assign a Project Code called “Spring Festival”Click Submit.Memorize DepositsDeposits made on a regular basis can be Memorized. If your church utilizes a Counter’s Sheet, a summary total of each account contributed to, enter those Income/Dedicated accounts and click the memorize button before clicking Submit and enter the Description of the deposit, the Frequency, the Next day and Final Date (if needed). If the amount of the deposit changes each month, click the checkbox at “Use zero amounts on future transactions?”ActivityCreate Deposit for - MERGEFIELD Bank_Acct 1101.000.10.45.00 MERGEFIELD Bank_Desc Operating Accounts MERGEFIELD Bank_AC A-10-10-45-00-1100-1101-000Income Account: MERGEFIELD Weekly_Offering_Acct 5101.000.10.45.00 MERGEFIELD Weekly_Offering_Description_AC Regular Collections I-10-10-45-00-5100-5101-000Amount: $4230.00Income Account: MERGEFIELD Other_Income_Acct 5404.000.10.45.00 MERGEFIELD Other_Income_Desc_AC Fund Raising Programs I-10-10-45-00-5400-5404-000Amount: $175.00Memorize this Deposit with a Description of Weekly Offering and a Frequency of Weekly.Importing a PayrollYou can import a payroll text file (for example, from IOI, Paycheck, or ADP) and import the data in the file into a journal entry. The journal entry will credit a bank account and debit the salary/wages account.Click Process. Select the Import Payroll option.Click Browse and then navigate to the payroll file provided by your payroll provider on your laptop or PC. Select the file and then click Open.Click Import to bring the file into the application. If the file validates successfully, the payroll date is displayed and the Create Payroll Journal Entry button is displayed.Click Create Payroll Journal Entry.A journal entry matching the contents of the text file is created and displayed.Journal EntriesEntering Journal EntriesAccount TypeTypical BalanceDebit EffectCredit EffectAssetDebit+ Increase- DecreaseLiabilityCredit- Decrease+ IncreaseNet AssetCredit- Decrease+ IncreaseIncomeCredit- Decrease+ IncreaseExpenseDebit+ Increase- DecreaseDedicatedCredit- Decrease+ IncreaseWe are going to enter two Journal Entries to practice their application and execution. First, we need to correct a Deposit.Incorrect: Account: MERGEFIELD Other_Income_Acct 5404.000.10.45.00 MERGEFIELD Other_Income_Desc_AC Fund Raising Programs I-10-10-45-00-5400-5404-000 Amount: $5004657725310515Corrected: Account: MERGEFIELD Weekly_Offering_Acct 5101.000.10.45.00 MERGEFIELD Weekly_Offering_Description_AC Regular Collections I-10-10-45-00-5100-5101-000 Amount: $500Click the Journal Entries icon on your Ledger & Payables toolbar. On the first line we Debit the Incorrect Income Account ()for $500.00On the second line we Credit the Correct Income Account () for $500.00180975223520The Entry should reflect the following: MERGEFIELD Weekly_Offering_Acct 5101.000.10.45.00 MERGEFIELD Weekly_Offering_Description_AC Regular Collections I-10-10-45-00-5100-5101-000 MERGEFIELD Other_Income_Acct 5404.000.10.45.00 MERGEFIELD Other_Income_Desc_AC Fund Raising Programs I-10-10-45-00-5400-5404-000 MERGEFIELD Other_Income_Acct 5404.000.10.45.00 MERGEFIELD Other_Income_Desc_AC Fund Raising Programs I-10-10-45-00-5400-5404-000 MERGEFIELD Weekly_Offering_Acct 5101.000.10.45.00 MERGEFIELD Weekly_Offering_Description_AC Regular Collections I-10-10-45-00-5100-5101-000Click Submit.Second, we have a Bill that use the wrong expense accountIncorrect: Account: MERGEFIELD Oasis_Exp_Acct 8101.000.10.45.00 MERGEFIELD Oasis_Exp_Desc_AC Food and beverages Amount: $480.40Corrected: Account MERGEFIELD ACP_Exp_Acct1 7455.000.10.10.00 MERGEFIELD ACP_Exp_Acct_Desc_AC1 Missalettes and Books E-10-10-10-00-7400-7455-000 Amount: $240.20Corrected: Account MERGEFIELD ACP_Exp_Acct2 7455.000.10.45.00 MERGEFIELD ACP_Exp_Acct_Desc_AC2 Missalettes and Books E-10-10-45-00-7400-7455-000 Amount: $240.20500062567310Click the Journal Entries icon on your Ledger & Payables toolbar. On the first line we: Credit the Incorrect Expense Account MERGEFIELD Oasis_Exp_Acct 8101.000.10.45.00 MERGEFIELD Oasis_Exp_Desc_AC Food and beverages for $480.40On the second line we:Debit the Correct Expense Account MERGEFIELD ACP_Exp_Acct1 7455.000.10.10.00 MERGEFIELD ACP_Exp_Acct_Desc_AC1 Missalettes and Books E-10-10-10-00-7400-7455-000 for $240.20Debit the Correct Expense Account MERGEFIELD ACP_Exp_Acct2 7455.000.10.45.00 MERGEFIELD ACP_Exp_Acct_Desc_AC2 Missalettes and Books E-10-10-45-00-7400-7455-000 for $240.20When finished, click SubmitNOTE: Journal Entries MUST have equal Debit and Credit totals in order to be submitted.Credit CardsSet up Credit Card Account4660900201295Before you can begin to use a Credit Card, you must first designate a Liability account as a Credit Card. 4339590275590To set up the credit card account, click the Accounts icon on your Ledger & Payables toolbar. Using the Quick Find, find the credit card account. If the account is not set up yet, add the credit card account from the full Chart of Accounts or create a new Liability account for the Credit Card. Click the checkbox at Credit Card at the bottom of the Account Definition display, and click Submit. 3126105668655To add a new Credit Card Entry, click the Credit Cards icon on the Ledger & Payables toolbar. Choose the appropriate Credit Card Account for the charge incurred and select the Vendor and Date of the transaction. You can also enter an Authorization code for each Credit Card transaction. Enter the Account, Amount, Comment and Project (if desired) and click Submit.Reconciling Credit CardsAt the end of the month, you will receive a credit card statement from the Credit Card Company. You can reconcile the charges you’ve already entered, or edit/enter the transactions off the credit card statement itself. From Reports, click Transactions | Credit Card Charges and Preview Report.Bank ReconciliationBefore closing each month, we recommend that you reconcile your bank statement with the information entered in the ConnectNow Ledger & Payables System.489585039370To begin a new Bank Reconciliation, click the Process icon Select Bank Reconciliation and click Create a New Statement.Enter the Bank Statement Information.Bank Account: MERGEFIELD Bank_Desc Operating Accounts MERGEFIELD Bank_AC A-10-10-45-00-1100-1101-000 MERGEFIELD Bank_Acct 1101.000.10.45.00Statement Date: MERGEFIELD Training_Date Today's DateEnding Balance: $8901.50Service Charge: $25.00Interest Income: $0.25Click Submit MERGEFIELD Bank_Desc Operating Accounts MERGEFIELD Bank_AC A-10-10-45-00-1100-1101-000 MERGEFIELD Bank_Acct 1101.000.10.45.00 MERGEFIELD Training_Date Today's DateNOTE: When you entered your Bank Account, you were prompted to insert the Interest Income and Service Charge Expense Account for the bank. This information will remain with each bank account and when you complete a Bank Reconciliation, the system will create an automatic Journal Entry recording any interest income earned or bank service charge incurred.Bank Account8901.5035718752032000180975288925Clear the transactions shown.When the Difference is zero, you’re reconciled! Click Submit to save your bank reconciliation. 258127531750When the Bank Reconciliation is complete, click the Reports icon on your Ledger & Payables toolbar and select Transactions. Choose the Account Reconciliation Report.Select the Date and Account that you completed the reconciliation and click Preview Report. This report will show you all cleared and un-cleared transactions as well as a reconciliation summary.Print this report and attach it to your Bank Statement and file away for your records.Memorized TransactionsAt the beginning of each month or week, you’ll want to run the Memorized Transactions process to create any transactions that have a Next Date within that period.Click the Memorized icon on your Ledger & Payables toolbar. 3390900187960Click the Create from Memorized Transactions link.Enter the Date in the Create Transactions as of field and click Submit.Review the list of memorized transactions due by the due date you entered. If you do not want to create a particular transaction, remove the checkmark in the Create column.Click the Submit button.All memorized bills, deposits, credit cards and journal entries you’ve selected are now created. You can edit any of the memorized transactions as needed by pulling up in each respective area of ConnectNow.Memorized bills can now be paid by going through the Create Checks process.4867275102235Editing Memorized Transactions3552825222250Click the Memorized icon on your Ledger & Payables toolbar. Click the Memorized Bills, Memorized Credit Cards, Memorized Deposits, or Memorized Journal Entries link.You may delete the transaction by clicking the checkbox in the Delete column next to the transaction you no longer need.You may edit the Next Date or Final Date if desired.Click Submit.NOTE: If you need to change other elements about a Memorized Transaction (Vendor, Account, Amount, etc) you must re-memorize the transaction and delete the original memorized transaction.Budget Entry491490022225To enter/edit Budget information, click the Process icon on your Ledger & Payables toolbar and choose either Current Year Budget or Next Year’s Budget. To save yourself some time, you may choose to have the system insert the budget figures for you, then simply edit the items that have changed. Clear Current Year’s BudgetSame as Last Year’s BudgetSame as Last Year’s Actual3800475435610You can even choose to insert a percentage and have the system automatically update the entire budget! Use the Monthly Budget/History Report and/or the Budget Worksheet from the standard report menu to help you determine which starting point will work best for your budget and what your new budget amounts should be. After you have completed your budget entries, run the Monthly Budget/History Report again and review your information to check your numbers. 47117069850NOTE: You can filter which accounts you want to edit by using the budget filter. You can edit by Type, Level or Category756920801370Edit Budget AmountsYou can view and edit the annual or monthly budget amounts for each month of the year. The system lets you edit budget amounts in either your Current Year or Next Year budget. For example, if you know that your costs for Books and Supplies are expected to increase in July and August, when you’ll be purchasing new items for the school year, you can edit those months to reflect the planned expenses in your budget. Complete the following steps to edit budget amounts.Click the Process icon. Click either the Current Year Budget or Next Year Budget option, depending on which year you wish to edit. The system will list all income and expense accounts. 3838575434975Filter the Accounts you want to work withLocate the line item you wish to edit. To edit the annual amount, enter the new amount into the Next Year Budget or Current Year Budget field.To edit monthly amounts, click its Edit Months button. The system will display the monthly budget amounts for the selected account. Click into the month you wish to edit and type the new amount. 137795233045Click the Close and then Submit button at the bottom of the screen to save your changes. Beginning Balances2724150120015Entering Beginning BalancesClick the Process button278130025400Choose Beginning Balance. Enter the first day of your current fiscal year in the Date field.We are going to increase the balances of our Building Asset Account and the Net Asset Account:Choose Account: MERGEFIELD Bank_Acct 1101.000.10.45.00 Operating Accounts A-10-10-45-00-1100-1101-000Debit (Increase) by $10,000Choose Account: MERGEFIELD Net_Asset_Acct 4901.000.10.45.00 Unrestricted Net Assets N-10-10-45-00-4900-4901-000Credit (Increase) by $10,000.This will add the $10,000 balance of your 1101.000.10.45.00 Asset Account that was not previously in the system.Click Submit when complete. Your entry should match example below. -266700454025If you have questions about the effect of a Credit or Debit on your balances, refer to the chart to verify your entry is correct. MERGEFIELD Net_Asset_Acct 4901.000.10.45.00 MERGEFIELD Net_Asset_Desc Unrestricted Net Assets MERGEFIELD Net_Asset_AC N-10-10-45-00-4900-4901-000 MERGEFIELD Bank_Acct 1101.000.10.45.00 MERGEFIELD Bank_Desc Operating Accounts MERGEFIELD Bank_AC A-10-10-45-00-1100-1101-000Account TypeExampleTypical BalanceDebit EffectCredit EffectAssetCheckingDebit+ Increase- DecreaseLiabilityMortgageCredit- Decrease+ IncreaseNet AssetEquityCredit- Decrease+ IncreaseDedicatedScholarshipCredit- Decrease+ IncreaseReportingEnd of Month ReportingOnce the Bank Statement has been reconciled to the system, you can now print End of Month reports for your records, and to share with your Pastor, Finance Committee, Church Council, etc.The reporting tools in ConnectNow Fund Accounting are easy to use, yet comprehensive.You will need to be sure you have the Adobe Reader X installed, and since all reports are printed in a separate window/tab, be sure you have allowed pop-ups for this site. DioceseIf, when you print the first time, you see that the pop-ups are blocked, click the Options for this Site button and choose Always Allow and attempt to print the report again.We recommend you print the following reports for the current fiscal month to store for your records.Bill ListCheck Register Deposit RegisterJournal Entry ListStatement of ActivitiesStatement of Financial PositionStatement of Dedicated Accounts314325383540To print Reports, click the Reports icon on your Ledger & Payables toolbar.Standard Reports are grouped together by report type; Transactions, Statements, Accounts, Vendors, Budget/History and Analysis Graphs.Click the button at the Report Type and the window will expand displaying all of the reports within the Report Group.Report selection displays are similar for all standard reports. Select the report based on Date/Date Range, Account and/or Vendors information, and print the report with all Detail or just the Summary.You can memorize the selections on any report by clicking the Memorize Report button. This will save your selection criteria. Then each month, simply select the memorized report and the system will update the information with the current month’s data.Click Print Preview to view the report on screen.Once the report is on screen, you can choose to print the report to your printer or export the report in a variety of formats, including PDF and Excel.Financial StatementsStatement of Financial Position3857625-19050When printing the Financial Statements, you again have many options.The Statement of Activities (a.k.a Income Statement) and Statement of Financial Position (a.k.a. Balance Sheet) reports can be found by clicking the Reports icon on your Ledger & Payables toolbar and selecting Statements.445770087630Choose the Statement of Financial Position Report.3581400726440By default, all Funds and all Classes are selected when you initially view the report. However, you can make selections to multiple funds or classes by simply clicking the funds/classes you’d like to view on the report. Clear your selections by clicking the X in the upper right corner of the selection window.You’ll be able to print up to five columns of information, selecting from the following:Year Begin BalanceBalance Last MonthYear to Date BalanceThis Month ChangeYear to Date ChangeSame Month Last YearTotal Last YearYear to Date Last YearBlank Column2451735195580You can also choose how you would like the report Grouped and Sorted.Click Print Preview.The Statement of Financial Position reports on Assets, Liabilities and Net Assets in the system.Sample in Detail FormatStatement of ActivitiesClick the Reports icon on your Ledger & Payables toolbar and select Statements and choose the Statement of Activities Report.5619757772404552950539115By default, all Funds and Levels are selected when you initially view the report. However, you can make selections to multiple funds or levels by simply clicking the funds/levels you’d like to view on the report. Clear your selections by click the X in the upper right corner of the selection window.322897531115You can also choose how you would like the report Grouped and Sorted.You’ll be able to print up to nine columns of information on your Statement of Activities (a.k.a. Income Statement or Profit & Loss). If you select only columns 1 through 6, the report will print in a Portrait 8 ? x 11) format. If you choose to print columns 7 through 9, it will print Landscaped (11 x 8 ?). You can choose from the following columns of information:Click Print Preview.The Statement of Activities reports on Income and Expense Accounts in the system.Check RegisterIn the ConnectNow Ledger & Payables System, we offer several “Transaction” reports that allow you to select, sort, and print various types of transactions.? This will help you view only the Bills, only the Checks, only the Deposits, etc. and all of the information associated with the transaction.4733290542290The Transaction Report that displays only the Checks is called a “Check Register”.? It displays all of the information about a Check; the check number, date, amount, whether or not it’s cleared the bank, and all of the information about how it was expensed out. ?? To print a Check Register, click the Reports icon on your Ledger & Payables toolbar, choose Transactions and select the Check Register report.1696085278765Make your selections for the report on Date, Check Number range, Bank account and if you’d like to view the Summary or Detail information and click Print Preview.The Check Register report lists only the checks and the detail information about each check based on your selections.-7620342265Account BalanceThe Account Balance report will display all transactions that affect the selected account; all deposits, journal entries, and checks… sorted by date with a running balance.? It also displays if the transaction has cleared your bank, as well as any comments entered.4876800148590To print a Account Balance, click the Reports icon on your Ledger & Payables toolbar.Choose Accounts and select the Account Balance report.Make your selections for the report on Date and Account and click Print Preview.485775406400Budget ReportingYou can enter and edit budget information in ConnectNow Ledger & Payables for either the Current Year or for the Next Year.Before you begin, you may want to print a Monthly Budget/History Report for the head of each department in your Parish. The Department Head can review the budget and actual figures for each month of the fiscal year in an attempt to propose a budget for the next fiscal year.Once the budget has been entered, you can then reprint the budget reports for review.502920035560To print the Monthly Budget History Report, click the Reports icon on your Ledger & Payables toolbar and choose Budget History, the Monthly Budget/History.Make a selection on Entity, Department or Account as needed.Select the Budget/History Items you would like to provide to your department heads.We recommend you enter a Report Subtitle indicating the appropriate department within the church.Click Memorize Report and create a Memorized Report Group called Budgets and add this report to that group.When you wish to print the budget reports next year, you will simply need to print the Memorized Report Group for Budgets.78105017145End of Month ProcessUse the end-of-month processes to close a month. xe "close month"xe "end-of-month processing"Monthly closings are required and will ensure that your annual reports are correct. Before you begin closing a period, ensure that all transactions for the period you are closing have been entered. IMPORTANT NOTE: Once a period is closed, no corrections to records in the closed period are permitted. The Church Administrator can make Journal Entries in a closed month to correct errors or make adjustmentsBills that have not been paid are not included in month end closing and can be changed or paid at any time unless you are using the Accrual accounting system.4848225147955To end the month, click the Process icon on your Ledger & Payables toolbar and choose End of Month.1628775236220The system will display your current fiscal month and year. Click Submit.400050403860The system will confirm that this will close the month and you will not be able to enter transactions for that closed month to ensure the historical audit trail. Click OK to complete the end of month process.End of Year ProcessClose a Fiscal YearThe xe "end-of-year processing"xe "close year"End-of-Year process will close the fiscal year. It will also zero all Income and Expense accounts, and their difference will be transferred to the selected Net Asset account. Reports can be printed for a prior fiscal year, but additional transactions cannot be entered for a prior fiscal year, except for authorized audit entries. This ensures that a complete historical audit trail is created. 222250046990Click the Process icon.Select End of Year. Click the Go button. Reference InformationCash or Accrual?ConnectNow Fund Accounting allows you to enter accounts payable information for both Cash and Accrual Accounting Methods. Cash Accounting method recognizes both income and expenses at the time when money is received or paid. Accrual Accounting method recognizes income at the time money is earned and expenses at the time they are incurred even though they may not yet have been received or actually paid in cash.If your parent organization requires either Cash or Accrual accounting method, your system will be set as requested by your parent organization. If your data is being converted from another application, the Accounting Method will be converted as well. If you are not converting your data and your parent organization has not made any requirements, be sure to inform your Sales Representative which accounting method you prefer. If not otherwise designated, the default accounting method will be Cash.Reporting Dedicated and Restricted Fundsxe "Dedicated and Restricted Funds"xe "Chart of Accounts:Dedicated and Restricted Funds" ConnectNow Ledger and Payables is specifically designed for churches and non-profit organizations, so it records and reports dedicated and restricted funds properly, while other commercial accounting applications simply do not have this capability. ConnectNow uses a feature called dedicated fund accounts to record those transactions. Dedicated accounts provide monthly and year to date totals for income and expenses without affecting the general operating budget. The beginning and current balance of dedicated fund accounts are automatically recorded in the Net Assets on the Statement of Financial Position. Dedicated fund accounts are also put into groups (Levels) and the Financial Position groups of Unrestricted, Temporarily Restricted, or Permanently Restricted funds to meet the reporting requirements of FASB 117, Financial Statements of Not-for-Profit Organizations. 2828925153670For example, assume that contributions are collected for support of a specific mission. When the contributions are received, they are deposited in the church checking account. This is recorded as a bank deposit with the income reported to the mission support dedicated fund account. This account will have a current month income and balance equal to the contributions received. 051435Assume that a payment is made to that mission via a check. This is recorded as a bill and as an expense to the mission support dedicated fund account. The checking account balance will be reduced by the check when the bill is paid using the cash accounting method. -19050277495Under the Statements section of Reports, choose the Statement of Dedicated Accounts to view the beginning balance, current month receipts and expenses, year to date receipts and expenses and the ending balance for the dedicated accounts.The mission support balance will be reduced and the Unrestricted, Temporarily Restricted, or Permanently Restricted summary on the Statement of Financial Position will also be reduced. Unrestricted - ongoing fund with repeat budget needs and no donor imposed restrictions, example family ministries, memorials and weddings Temporarily Restricted - restricted until the time of its intended use or until the activity is completed, example building fund, choir robes and missions. Once the time restriction has expired or activity has been completed, the funds held may be released to general operating. Permanently Restricted – donor imposed permanently restricted for an ongoing specific use, example endowments, scholarships, and foundations. You may use the investment income but not the principal.The amount of mission support received and paid out can be displayed at any time, the church budget has not been affected by these funds, and the Statement of Financial Position report is correct. The same procedures would be used to record transactions for contributions and payments for other specific purposes such as choir robes, building funds, youth trips, collections for others, etc.Class Name: ConnectNow Ledger & PayablesDate: -523875-514350Evaluation FormWe strive to continually improve our seminars to meet your needs. Your suggestions are extremely valuable to this process. If you rated any part of this course good or lower, we would appreciate knowing how we can improve. If you wish to remain anonymous, feel free to leave this section blank.Name: ____________________________________________________________Parish: ____________________________________________________________Signature: _____________________________ Date: ________________________InstructorExcellentGoodFairPoorHow would you rate the instructor’s presentation skills?How would you rate the instructor’s knowledge of the subject? Additional Comments:Class and MaterialsExcellentGoodFairPoorHow well did the class meet your expectations?How would you rate the methods used to conduct this class?Overall, how would you rate this training session? Additional Comments:Which part of the class was most beneficial to you?Which part of the class was least beneficial?Which part of the class needed more time allotted?Which part of the class needed less time allotted?Please fax to: 734.205.1011 or mail to: 825 Victors Way, Suite 200, Ann Arbor, MI 48108-2830 ATTN: Karen ................
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