Various Links on this http://www.bcidot.org Web Site:
eEnvelopes HOME | : ABOUT US | eEnvelopes Purpose | SITEMAP | MFTeam HELPS
TO: Interested Christians FROM: Jim Bramer, Retired CPA
RE: Two Sides of the Same Dollar (Coin) Originated in October 2004
Side A -- Available Resources
I encourage you to view your Personal Finance records like you have activity within two sides of the same dollar (or coin, if you prefer) -- yea, they are equal yet separate. Or, it is divided up in order to show a point in time record of the following:
Bank Balances - Checking or Savings
"BuyNowPayLater" Enabler - Click Here for more info.
Side 1 -- Committed Financial Areas
Current Unpaid Credit Cards
Available in virtual Envelopes to be used for Life Style "Spending Now" Purposes
SetASide (or Escrowed) for a Specific Longer Term Purpose
See a Church Spending Control sample report below:
QBooks Types: Assets: Bank Checking- Savings 16,787 Total Assets $16,787 Liabilities: Acct Pay Payables 1,689 Fund Balances - Bux Boxes: SPFunds Equity Approved donor preferences $ 700 Equity Building Fund $ 4,000 Equity SetASide by the Board $ 15,774 Equity (Deficit) from earlier years $ (6,362) Total SPFunds $14,112 GPFund Available for this Years Operations: Equity Church Staff Costs $ 562 Equity Missions Costs $ 234 Equity Mortgage & Facility Operating Costs $ 56 Equity Program #1 Costs $ 34 Equity Program #2 Costs $ 100 Total GPFund (Deficit) $986 $15,098 Total Liab and Fund Bal $16,787
Some of your activity will affect opposite sides of this dollar --==============================================================================
>> For example, we will want to Increase amounts appearing in both Side A and Side 1. An example is to make a deposit into a Bank Balance resource and increase such balances within the applicable "SetASide" or "Envelope" committed areas
>> Or we will want to Decrease amounts appearing in both Side A and Side 1. An example is to write a check and reduce both "Bank Balance" & the amount in the applicable "SetASide" or "Envelope" area. Another example is to write a check and reduce both the "Bank Balance" and the amount of Current Unpaid Credit Cards.
While some of the transactions will affect the same side of this dollar --
>> For instance, you buy via Credit Cards and you increase the balance in the Current Unpaid Credit Cards and decrease applicable balances within the SetASide or Envelope areas
>> Another way is to transfer among Side 1 areas or move money to or from applicable SetASide or Envelope areas
O B S E R V A T I O N
Use of the above orthodox terminology is an attempt to NOT use the sometimes confusing vocational terms listed below that have unique meaning to professional Bookkeepers and Accountants, as they record financial transactions and carry out their responsibilities
Since the primary objective of the Envelope system and the QBuxBox system is to provide tools in order for Christians to live within their income and prudently care for available resources and their commitments, we do NOT emphasize the acquisition or performance of investments. We sometimes show in memo fashion the status of old debt that you are trying to pay off.
Please Click Here for a list of eEnvelope writings on www.bcidot.org. Feel free to contact me at Jim@bcidot.org if you have any comments or questions about any of these matters.
Remember -- It is my desire to encourage you in your Christian walk and to be "Your Servant for Jesus Sake:" Thank you. II Corinthians 4:5B. This was updated last: June 04, 2010
Email Address: Jim@bcidot.org - Phone: (559) 298-5507 --
Mailing Address: 2628 East Goshen Ave. - Fresno, CA 93720
http://www.bcidot.org links: eSpending
SpendingControl HOME | : ABOUT US | SpendingControl Purpose | SITEMAP | MFTeam HELPS