How to
Make an entry in the books
How to record a bill paid, a bank charge, a transfer between funds or an accountant's adjustment, with worked examples of debits and credits.
An entry records money moving in the books: a bill paid, a bank charge, money moved between funds, or an adjustment from your accountant. Gifts have their own screen; see Record gifts from the offering or the mail.
Steps
- Open Books, then the books you want, then press Entries.
- Press Make an entry.
- Choose the Date the money moved, for example the date on the cheque.
- In What it's for, say what happened in plain words, for example "Hydro bill for March".
- On the first line, choose the Account and the Fund, and type the amount in Debit or Credit.
- Do the same on the second line. Press Add a line if you need more.
- Check the box under the lines. It shows each fund's debits and credits and says Balanced: ready to save when they match.
- Press Save the entry.
The entry opens once it's saved. To see every entry, press Entries; choose a Year and press Show to see an earlier one.
Debit or credit?
Every entry has at least two lines, and the debits equal the credits. A quick way to remember which is which:
- Debit an expense, or money arriving in the bank.
- Credit income, or money leaving the bank.
| What happened | Debit | Credit |
|---|---|---|
| Paid the hydro bill, $240 | 5600 Building: utilities, repairs and insurance, $240 | 1000 Bank: chequing, $240 |
| Bank charged a $12 fee | 5300 Interest and bank charges, $12 | 1000 Bank: chequing, $12 |
| Interest paid into the bank, $8.50 | 1000 Bank: chequing, $8.50 | 4300 Interest and investment income, $8.50 |
The account numbers here are from the standard church chart; yours may differ.
Each fund must balance
Each fund's debits must equal its credits, not just the entry's total. If the building fund pays a bill, both lines use the Building fund.
To move money between funds, use 3900 Transfers between funds on both sides. For example, a $5,000 board transfer from General to Building:
| Account | Fund | Debit | Credit |
|---|---|---|---|
| 3900 Transfers between funds | General | $5,000 | |
| 1000 Bank: chequing | General | $5,000 | |
| 1000 Bank: chequing | Building | $5,000 | |
| 3900 Transfers between funds | Building | $5,000 |
If the money is a loan to be paid back, use 1900 Due to / due from other funds instead. See Moving money between funds.
If it won't save
- "Not balanced yet": a fund's debits and credits differ. The box under the lines shows which fund and by how much.
- "Line 2 needs an amount in either Debit or Credit, not both": each line has one amount only. Split it into two lines if you need both.
- "The year … is locked": the year's books are final. Ask whoever looks after the books to unlock it; see Lock a year when its books are final.
Good to know
- Only owners, treasurers, bookkeepers and accountants can make entries.
- An entry can't be changed or deleted afterwards. To fix one, reverse it; see Correct a mistake in an entry.
- The first entry in a new year opens that year.