While you concentrate on your community and building your organization, our team will work with you to simplify the accounting process and make sure that your financial records remain accurate and up-to-date.
Our tax consultants are not-for-profit and have extensive experience in working with churches, synagogues, and other faith-based groups to reduce their taxes and maintain their tax exempt status.
These responsibilities may vary from church-to-church depending on the job description or according to their bylaws.
So if you are on the fence whether to classify a worker as an employee or an independent contractor ...go ahead and classify and pay your worker as an employee!
We believe everyone should be able to make financial decisions with confidence. And while our site doesn’t feature every company or financial product available on the market, we’re proud that the guidance we offer, the information we provide and the tools we create are objective, independent, straightforward — and free.
An area of high risk for churches is the lack of internal controls. External auditors can reconcile bank accounts and track deposits and check them. This increases the safety of your congregation's finances.
Events Income We are currently trying to correct our chart of account. Our tithes & offerings are also non-profit revenue.
All organizations should follow generally accepted accounting principles (GAAP), using an accrual basis to record income and expenses when they are earned and incurred. However, many churches use a cash basis—recording income and expenses when they are received and paid—or a combination of both approaches.
How To Manage Church Records
Identify The Church Records That You're Going To Manage. Based on your local state laws you will need to figure out what records are imperative to keep. ...
Implement A Retention Schedule. ...
Establish Retention And Destruction Policies.
In a non-profit organization, such as a church, the board is the bearer of this fiduciary responsibility and therefore should properly oversee all operations, including finances, to protect the members of the church.
Common Church Budget Categories
Personnel (salaries, benefits, etc.)
Administration (operating expenses)
Facilities and Equipment (utilities, insurance on property, maintenance)
Outreach (missions, evangelism, social events, etc.)