It is not unusual for pastors and other church staff to be reimbursed for work-related expenses such as mileage, conference travel expenses, books or other resources, and more. A healthy church has a reimbursement policy…
Part 4 – Donor Statements The IRS requires that the DONOR to a church or nonprofit seeking a federal income tax deduction for a charitable gift must produce, if requested, a cancelled check, a bank…
Part 3 – IRS Year-End Compliance Several forms are required to be filed at year-end by the Internal Revenue Service. A quick, but not exclusive, list includes: Form Description W-2, W-3 Wage & Tax…
Part 2- Allocating Fund Balances The Statement of Financial Position (Balance Sheet) has three sections and remember the relationship of these sections is expressed by this equation: Asset Section = Liability Section + Equity Section.…
Part 1 – The Gathering It’s that time of year, time to begin thinking about closing out the financial records for the current year and preparing for the new year. Most churches are on a…
XERO is Happening! Xero accounting software is in the cloud. It’s accessible from anywhere you have an internet connection. It’s secure, it’s simple and it’s going to change your life! And even better, you sync…
Planning Center – Where You Can Work Your Plan! Even a small church needs to keep track of its p’s and q’s…and its Smith’s and Jones’. And that’s what Planning Center is all about! Planning…
It’s good to be slack! If you’re not SLACKING, then you are just behind the times. Slack is a cloud-platform that provides direct messaging between you and your team …. Shhh, but it replaces email…
“Budgeting” the Statement of Financial Position (Balance Sheet) Now, for those bookkeepers and accountants who might be reading this, don’t panic. I know we don’t create a budget for the Statement of Financial Position (Balance…
You Have A Budget, Now What? Budgeting is such an important tool for so many reasons. In his book, Essential Guide to Church Finances, Richard Vargo lists 10 important reasons: Formalizes planning Reduces emotion-charged discussions…
