Your church has a very important mission. Don't let bookkeeping get in the path of that mission. The right software for church accounting can make it easy to do church bookkeeping accurately and quickly. This will allow you and your administrative staff to get back to what really matters to you ministry.
This will prevent you from making an error in your church bookkeeping. Make sure to carefully review every individual paying for a particular service. Use the IRS guidelines (link at the Misclassification article), to determine whether or not they should be classified with the proper payroll tax and matching.
You are the best time to hire our church bookkeeping service to make sure your financial records and policies are correct. It is also a great idea to have your bookkeeping done by someone else, so that you can concentrate on building your business and never fall behind.
We believe that listening is the key to building a client relationship based on trust and respect. We aim to help you build your faith organization and be more successful by offering financial guidance, leadership and advice.
A church's financial health depends on its ability to accurately and expertly use their resources. A bookkeeper who is qualified and skilled means that they are experts in the correct way to enter data, comply with federal and local regulations, and can ensure accurate reporting.
FT Walton 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.
For classifying and paying a worker with an IRS 1099 that the IRS believes should have been considered an employee, churches can face severe penalties.
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.”
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.
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.)
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.