Period Close journals for entities using Planned Giving

The following journals are created for entities using Planned Giving.

Mission Church

• Income Summary journal is entered to record the tithe and planned giving received.

• When the period close is completed:

  • A General Journal is created to allocate the planned giving to the church (income), mission and union (payable), using the Planned Giving setup, and among the SPD and GC offerings based on the Planned Giving Allocations.

  • The Roll-Up journal is created to transfer the tithe and planned giving amount payable

Mission

• A Roll-In journal is created to record the tithe and planned giving received from the mission church

• When the mission completes the period close:

  • A Roll-Up journal is created to transfer the tithe and planned giving amount payable, and record amounts received as income (tithe and planned giving)

  • A General Journal is created for the recording of any levies applied to tithe

Union

• A Roll-In journal is created to record the tithe and planned giving received from the mission

• When the union completes the period close:

  • A Roll-Up journal is created to transfer the tithe and planned giving amount payable, and record amounts received as income (tithe, planned giving and levies)