We launched 3 updates to ChurchTrac Accounting.

The theme of these updates: Simplify.

We asked church leaders to give us feedback on their church bookkeeping challenges and how we could make their life easier. We ended up with 3 welcome additions.

TL;DR: The process of creating fund-to-fund and account-to-account transfers has been streamlined. We've also added a new account type called "Untracked" to record fixed assets and liability accounts (like mortgages) accurately.

Fund-To-Fund Transfers

We've updated the user interface to help place guard rails for church leaders needing to transfer money between their different funds. What does this mean? It means it's harder to mess things up and easier to use! This UI change also gives you a preview of what your income statement and balance sheet will look like with the transfer.

Account-To-Account Transfers

With the same spirit of fund-to-fund transfers, we've made account-to-account transfers easier to use with our UI update.

New Feature: Untracked Accounts

Up until today, ChurchTrac was never designed for recording liabilities like a church mortgage or fixed assets (like pews or a soundboard). Programs like Quickbooks offer this, but that comes with the added complexity of double-entry accounting. This is a complexity that most church leaders don't wan't or don't understand.

However, there are many treasurers and power users that wanted it. So we added it.

Examples of liabilities and fixed assets you can record for your church with our untracked account type:

• Mortgage principle reduction
• HVAC units
• Pews or Sanctuary Chairs
• Computers
• Ipads for Child Check-In

This is one of those features that 90% of our churches won't use (or need). But... for the 10% of you that wanted it. Enjoy!

Powerful Church Software For All

We're always striving to add new features and functionalities to make ChurchTrac your All-In-One Church Software. As we continue to develop the platform, we'll continue to stay true to our core values to EQUIP the church to build the body of Christ!

Stay tuned. We're always adding new features. 🤓

FAQS

Should I Move Money Between Categories?

No, money should not be moved between Categories. You only move money between Funds, because Funds are where money actually lives. Categories should never be treated as buckets that “hold” money, but as labels for identification.

When should I use a tracked account vs an untracked account?

A general rule of thumb... tracked accounts are actual accounts at a financial institution that you are wanting to be reflected in your overall accounting balance sheet or budget.

Are funds account specific?

No. Funds are not account specific.

Do categories hold balances?

No. Categories are used to label transactions. Funds are where your designated balances of money are held.

Rebecca Church Engagement