Zero Month-end Negative Balances: Difference between revisions
Jump to navigation
Jump to search
(Created page with "There are churches that look like they have tens of thousands in Church Budget, but so many negative ending balances in various local funds, that their Church Budget fund is actually thousands of dollars in the negative. If the board conducts business as if they have a large balance, when they really don’t, it can ultimately affect the church’s financial health. :'''''NOTE:''' There are times when the board needs to be able to see that, though the “Church Budget...") |
No edit summary |
||
| (5 intermediate revisions by the same user not shown) | |||
| Line 4: | Line 4: | ||
# Once ALL the deposits have been entered and the checks have been written and your next step is “Print Monthly Reports,” click “No,” because you are not ready to print those reports. | # Once ALL the deposits have been entered and the checks have been written and your next step is “Print Monthly Reports,” click “No,” because you are not ready to print those reports. | ||
# Click on “Reports and Graphs,” then “Financial Summary | # Click on “Reports and Graphs,” then “Financial Summary". Print the “Financial Summary.” | ||
# Underline any negative balances in the “Ending Balance” column on the right side. Underline all the way | # Underline any negative balances in the “Ending Balance” column on the right side. Underline all the way across, including the name of the account, to avoid posting to the wrong fund. | ||
across, including the name of the account, to avoid posting to the wrong fund. | |||
# Go to Jewel home page, click on "Transfer Funds." To fill out this page correctly, you will enter: | # Go to Jewel home page, click on "Transfer Funds." To fill out this page correctly, you will enter: | ||
#* “Date:” the ending date of the current month | #* “Date:” the ending date of the current month | ||
| Line 15: | Line 14: | ||
#* Keep doing it until you have entered all the funds that have negative amounts, putting the amount in the “Amount” box as a positive number. | #* Keep doing it until you have entered all the funds that have negative amounts, putting the amount in the “Amount” box as a positive number. | ||
# Find the "Running Total" box to the right of the "To Account(s)”. Enter that exact amount in the amount box of the "From Account" line. | # Find the "Running Total" box to the right of the "To Account(s)”. Enter that exact amount in the amount box of the "From Account" line. | ||
# Click the green “OK √” in the top right to save and leave. If your “Church Budget” contains less than | # Click the green “OK √” in the top right to save and leave. If your “Church Budget” contains less than the transfer, you will get a warning message. Click “Yes” and continue. | ||
the transfer, you will get a warning message. Click “Yes” and continue. | |||
# Go back to the Financial Summary and see if all the negative numbers in the “Ending Balance” Column are now zeros. If you have missed an amount or entered a wrong number, go back to “Transfer Funds,” click on the red arrow that says "Previous" to get back to the transfer you just made, then click on "Edit Transfer" and fix the numbers until everything on the “Financial Summary” is as you want it. | # Go back to the Financial Summary and see if all the negative numbers in the “Ending Balance” Column are now zeros. If you have missed an amount or entered a wrong number, go back to “Transfer Funds,” click on the red arrow that says "Previous" to get back to the transfer you just made, then click on "Edit Transfer" and fix the numbers until everything on the “Financial Summary” is as you want it. | ||
# Once you are finished with it, go to the “Next Step” button, and print reports to close the month. | # Once you are finished with it, go to the “Next Step” button, and print reports to close the month. | ||
Not every church needs to do this, but it can be helpful for some. The church board may be startled to see the change in the Church Budget numbers, but it will enable them to make more informed financial decisions. | Not every church needs to do this, but it can be helpful for some. The church board may be startled to see the change in the Church Budget numbers, but it will enable them to make more informed financial decisions. | ||
----- | |||
[[Maintaining and Customizing Jewel|Click here for more topics related to Cleaning Up and Ensuring Accuracy]] | |||
Latest revision as of 23:35, 29 December 2025
There are churches that look like they have tens of thousands in Church Budget, but so many negative ending balances in various local funds, that their Church Budget fund is actually thousands of dollars in the negative. If the board conducts business as if they have a large balance, when they really don’t, it can ultimately affect the church’s financial health.
- NOTE: There are times when the board needs to be able to see that, though the “Church Budget” has a balance at the end of the month, that it really does not, because things like “Rent” have been paid, but the Church Budget Ending Balance does not reflect it. (See example below)
- Once ALL the deposits have been entered and the checks have been written and your next step is “Print Monthly Reports,” click “No,” because you are not ready to print those reports.
- Click on “Reports and Graphs,” then “Financial Summary". Print the “Financial Summary.”
- Underline any negative balances in the “Ending Balance” column on the right side. Underline all the way across, including the name of the account, to avoid posting to the wrong fund.
- Go to Jewel home page, click on "Transfer Funds." To fill out this page correctly, you will enter:
- “Date:” the ending date of the current month
- “Memo:” “To zero xx/xxxx (month/year) negative ending balances”
- “From Account:” Church Budget (ignore the amount box for now)
- “To Account:” enter the name of the first fund with a negative number on your report. In the "amount" box, enter the Ending Balance amount as a positive number.
- Click “enter” on your keyboard to produce a new line, and enter the next underlined account.
- Keep doing it until you have entered all the funds that have negative amounts, putting the amount in the “Amount” box as a positive number.
- Find the "Running Total" box to the right of the "To Account(s)”. Enter that exact amount in the amount box of the "From Account" line.
- Click the green “OK √” in the top right to save and leave. If your “Church Budget” contains less than the transfer, you will get a warning message. Click “Yes” and continue.
- Go back to the Financial Summary and see if all the negative numbers in the “Ending Balance” Column are now zeros. If you have missed an amount or entered a wrong number, go back to “Transfer Funds,” click on the red arrow that says "Previous" to get back to the transfer you just made, then click on "Edit Transfer" and fix the numbers until everything on the “Financial Summary” is as you want it.
- Once you are finished with it, go to the “Next Step” button, and print reports to close the month.
Not every church needs to do this, but it can be helpful for some. The church board may be startled to see the change in the Church Budget numbers, but it will enable them to make more informed financial decisions.
Click here for more topics related to Cleaning Up and Ensuring Accuracy