Rock U - Finances - Financial Basics

Transcribed Video Content

So before we dive into a lot of the financial tools within Rock, let's just look at some of the basics of how financial transactions and accounts work within Rock. That'll give you a much better picture for some of the other tools that we'll look at a little bit later. Okay. So this is the basic data structure of the finance tools within Rock. We start at the very top here with a batch. And so a batch is just a concept of a way of grouping multiple transactions that are somehow similar whether they were processed on the same day or perhaps for the same reason or whether they're for online giving or event registration. And you have a lot of different ways of how these batches get created, and how they're put together with with the with the transactions. But for now, just know that a batch is a group of transactions. Then under that we have the transaction. In this case, a transaction with Ted Deckers being the authorized person on the transaction. And then below that we have transaction details. So you'll have a transaction detail record for each account that has money for the transaction. So in this case, Ted Dekker has a financial transaction for an online gift and that gift has two parts. He has a hundred dollars going to the general fund and $50 going to the building fund. Now these red boxes represent the accounts. So these transaction details tie to an account and, these accounts have other properties if they're tax deductible and some, , other characteristics that we'll look at. But the important thing is just understanding each of these different boxes with a different color and their purpose. And that's the basic overview of a financial transaction with INROC.