All financial activities for a congregation are called transactions. These fall into three categories.
Any receipt of money that is deposited in the bank is a deposit. To create a deposit, do the following:
- Click the icon, select the bank account, and click Add.
- Select the offset account or accounts (typically an income account), then enter an amount for each line item.
- Click OK.
Checks are any disbursements for which you write an actual check. To create a check, do the following:
- Click the icon, then click Add.
- Select the payee (vendor), the offset account (typically an expense account), and enter an amount.
- Click OK. The check number and date are generated when you print the check.
- To print, select Transactions, then Checks, then Print.
- Select the proper checking account, then click Print.
Any other transaction, such as bank fees, interest, or correction of errors, is considered a journal entry. Every journal entry affects at least two accounts, one that is debited and one that is credited. The total debits must match the total credits.
To create a journal entry, do the following:
- Click the icon and click Add.
- Select the accounts you wish to debit and credit and enter the amounts.
- Click OK when you are finished and debits and credits match.