You will need the Accounting Settings permission to perform this action.
If you are coming from another accounting software, or haven't really been tracking your finances in an organized way, you may need to set your starting balances for the various accounts and funds you have set up in the system.
The transition involves segregating funds into different categories, such as general funds, restricted funds, and designated funds. To record the starting balances, the church should identify the balances for each fund and create opening balances for each fund in the fund accounting system. This process involves transferring all the relevant information from the standard accounting records to the fund accounting structure. It's important to maintain accuracy and transparency throughout this transition to ensure that financial information is properly reported in accordance with fund accounting principles.
When adding new accounts and funds, there will be a Starting Balances tab where you can set the starting balance and the date it's effective for. The date should be prior to any transaction you plan on actually adding into One Church.
Starting balances can also be set when editing funds or accounts by clicking on the fund or account name or clicking the 3-dots menu in front of the name and choosing Edit until transactions are added that impact the balance. From Accounting > Settings, choose either the Chart of Accounts or Fund tab to perform those edits.
From the Chart of Accounts:
From the Funds:
Totals per account across all funds will be shown at the bottom of the Add/Edit Account modal.
Totals for all asset and Liability accounts for a particular fund can be found at the bottom of that Add/Edit Fund modal.
