by Nichole
(SD)
My husband and I built the spreadsheet I've been using for church books years ago. I am transition over to your 5 fund church accounting spreadsheet.
I have 3 questions:
how do I record transfers between funds without making it look like the transfer was "offering" income? (ie, the board voted to transfer $500 a month from the general fund to the building fund so when the time comes to do concrete or add on to the church the money is in the account).
#2, where does the savings account go in the COA?
#3, I'm assuming when I make a transfer to the savings and then back to the fund (ie, the one time a year that the insurance is due) they would balance each other out. Am I correct or totally off base?
Comments for Where does the Savings account go in the COA, and how to you record transfers?
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If you want to DIY your payroll, I highly recommend you look at using Gusto! It is very user friendly and their support is awesome! Plus they know how to set up and maintain payrolls for churches and nonprofit organizations.
Note: I am a "partner" of Gusto, but as I have told you before ... I never recommend anything that we or our clients have not tried and love =)