Affectedother Companies
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.
For small churches, the cost of hiring someone to do bookkeeping often requires that they combine their roles with other jobs in order to make the job more attractive. Part-time employees may need to be hired by other churches who might not have as much experience. Many churches will have to employ a part-time treasurer. It is possible to get higher quality work from someone who is skilled in bookkeeping and has worked for several churches.
Sometimes, congregations are faced with difficult bookkeeping questions and may need to outsource this work. Atlanta Church Bookkeeping LLC is here to help you save time, money, and manage your bookkeeping needs.
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.
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.
Atlanta Church Bookkeeping LLC will help to protect your church and prevent fraud. Many stories have been reported about misappropriation of funds from charities and other non-501c3 groups. To protect your organization, we'll keep an eye on it.
Set up a church bookkeeping system that not only tracks expenses and income, but also tracks your assets and liabilities.
Now is the perfect time to use our church bookkeeping services to ensure your financial records and policies are set up correctly. Plus, since you likely have a limited team, it helps to outsource your bookkeeping so you can focus on growing your organization and never get behind.
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.
The IRS may begin a church tax inquiry only if an appropriate high-level Treasury official reasonably believes, based on a written statement of the facts and circumstances, that the organization: (a) may not qualify for the exemption; or (b) may not be paying tax on unrelated business or other taxable activity.