Our church began on-line Tithing this last September..HELP!

by Tanya
(Washington )

Our church began taking on-line payments from our church website though Paytrace which deposits credit card payments into a separate checking account that was set up at the same time to collect the payments.

There was no process in place to reconcile these payments through Quickbooks, as a new Bank account was not added to QB. Also, the accumulative weekly amount of deposits was then tx to the main checking account and listed as a "Deposit" when it actually was a tx from one bank account to another.

The end result has been a nightmare including FORCED reconcilliations in QuickBooks so that the M.E. balances Even though the $ was not actually "Deposited" rather transffered, and in different months a few times.)

Is anyone else using a credit card 3rd party service with Quickbooks successfully? If so, can you explain the process?

Thanks so much!

Tanya

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Feb 04, 2015
On-line Tithing
by: Anonymous - MN

Our Church has been using Vanco to support EFT giving and CC giving for a number of years.

The deposits go directly into the General Cking account. I enter them into QBO as a Deposit/ACH just as a notation that they came by way of Vanco.

I log the deposit for the full amount of the giving and then split the deposit and enter an Office Service expense the fees as a negative, associated with CC giving .

Feb 07, 2015
Thanks!
by: Anonymous

Thanks for your comment! An accountant is helping sort this out for us now, but we will be leaving the payments in it's own checking account. He suggested I do a Receipt for each separate EFT/CC and then Deposit each one separate. THAT sounds like alot of extra work...I have never used the Receipt function in QB but he says it will give more reporting capabilities (Which I never asked for.) I guess I better start watching the QB tutorials. Any other input welcomed!

Feb 07, 2015
on-line Tithing
by: Anonymous

From others feedback and my several experience, I would suggest getting to one account for your General income as quickly as possible. More accounts mean more problem, confusion and work to keep up with.

Twice I have had accountants help, one to set up QBO initially and one to help me figure out what the first one did. Several dollars later and a period of time, I was able to over come everything the accountants did and get back to simply keeping track of income and paying bills.

I have never used the receipt function you mentioned and have no idea what it is and what you would gain. QBO has significant reporting possibilities. The one extra I like and wish I used more is 'classes'. Makes for easier reporting but more work and having to remember to use when entering transactions.

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