In the case a church, a bookkeeper might be required to take on the roles of both an accountant as well as a treasurer. They are responsible to manage all financial aspects for the church. Their responsibilities include but not limited to:
Our clients receive a deep understanding of the unique challenges that religious organizations face today. We invest many hours each year learning about the current tax laws and new regulations that will affect non-profit clients such as churches, synagogues or mosques, school for religious studies, daycares for children, and other religious-based groups.
Another important reason to keep records is to make sound financial decisions. A report should be available that shows you how much you spend on expenses compared to previous years.
The problem is that not only the Pastor but also the kind-hearted volunteer may be able to set up and maintain proper accounting systems. If this happens, you may end up with inefficient church bookkeeping.
Our experts will ensure that every piece of information is available and properly accounted for. We'll handle the tedious work so you can concentrate on your mission.
Even if someone in your congregation is a bookkeeper or accountant for nonprofits, hiring a specialist will be a substantial investment. We urge you to make this a priority. It can bring benefits to your church three ways
The church bookkeepers are often mistaken with accountants for a long period. They have very different responsibilities. Bookkeepers are responsible for maintaining the financial records of the church. This includes income records and expense records. They are responsible for keeping records of every transaction that the church makes. It is their job to keep track all accounts. They also verify that accounting procedures have been followed correctly. Accounting, on other hand, does all the accounting work and provides auditing and tax planning as well as financial planning, payroll processing and consulting.
Working in church accounting, you share the same responsibilities as an accountant in any other organization. You record expenses, track contributions made by the congregation, and monitor spending on various programs. Your duties center around bookkeeping, documenting and controlling finances for a church.
Diocesan Canons state that treasurers and other officers of a church parish, mission or other institution be “bonded” according to Episcopal Church Canons. Episcopal Church Canons require that treasurers be “adequately bonded.”
seven years
Financial Records are traditionally kept for seven years. This relates to the laws of tax audits and the number of years back the IRS is allowed to look when determining an organization's tax liability.