Team Members
You must also be able see your bank balance in order to quickly determine how much is reserved or restricted and how much is still available to you to keep the lights on.
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Our experts will ensure that all information is correct and complete. We will handle all the details so that you can concentrate on your mission.
You must also be able see your bank balance in order to quickly determine how much is reserved or restricted and how much is still available to you to keep the lights on.
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Why not outsource? Outsourcing a bookkeeper for small to medium-sized churches can improve expertise and accuracy, reduce bookkeeping costs, and add a missing link in internal control. Let's look at each one.
A check register is not reliable for church bookkeeping.
By reconciling your accounting with your bank and credit card statements, you will find errors such as duplicates, missing transactions, bank errors on rare occasions, and amount discrepancies.
81% of church revenue came from individual donations. 34% of congregations have endowments, which constituted on average 4% of their revenue. Only 2% of churches received revenue from government grants; 12% received finance from non-government grants.
Churches call the traditional balance sheet a statement of financial position. It uses the accounting equation “Assets = Liabilities + Equity” to show a snapshot of your organization's financial health. It also shows the current balance of each of your funds if you've been implementing fund accounting for your church.
Churches And Transparency
The standards of the Evangelical Council on Financial Accountability require that member organizations provide audited financial statements on request.