- From the Checkbook screen, click on Setup at the top of the screen and then click Bank/Internal Acct List.
- Enter the Fiscal Year Start Balance for each Internal and Bank account. See the illustration below.
NOTE:The SUM of the Bank Account start balances MUST EQUAL the SUM of the Internal Account start balances. The totals are shown below the Bank Account and Internal Account lists.
To determine the Bank starting balance for the Fiscal Year, use the Bank Statement ENDING balance for the month prior to the Fiscal Year Starting Date and subtract any outstanding checks dated before that date.
The Internal Accounts are designed to keep track of money that has been designated for specific purposes. Your internal accounts are just a different way of looking at the money in your bank accounts.
For example, let's say you have $1500.00 in your checking account. Of that amount, $1175.00 is regular tithes and offerings, $85.00 is from N.Y.I. fundraisers, and $240.00 was given for Faith Promise. The starting balance for the bank account is $1500.00. The 'Church - General Operating' internal account balance will be $1175. Your 'N.Y.I. - General Operating' internal account balance will be $85.00. Finally, your 'N.M.I - Faith Promise' internal account balance will be $240.00. As you can see, the total amount of money in your bank accounts equals the total amount of money in your internal accounts. It is possible and likely that some internal accounts will start with a zero balance.
