The problem is that neither the Pastor nor the good hearted volunteer may know how to set up and maintain a proper accounting system, so you end up with an ineffective church bookkeeping system...and may not even realize it...until you have bills not being paid, or doubled paid...or financial records that nobody can make sense of...or make proper financial decisions with.
However, every church needs to manage finances. Weekly tithes, offerings and taxes are due. There are bills to pay and needs to meet. And, of course, salaries to be paid. It's hard to keep track. Even if your Excel skills are not great and you don't understand how to tell a debit from credit, church accounting software can help you navigate the terrain.
FT Walton Church Bookkeeping LLC helps to reduce fraud and other financial risks that might impact your church. News stories are full of stories about misused funds from charities or other 501c3 entities. We will monitor your books closely to protect your organization.
....Another good reason to keep financial records is to make informed financial decisions. If you can pull up a report, you will be able see that your expenses are higher than they were in previous years.
You may need more functionality in your church than QuickBooks Premier Plus. Particularly, your church will need to manage volunteers and events and enable online giving.
We can hold regular meetings to discuss your reporting needs. Additionally, you can access your bookkeeping online any time you wish to pull reports or review the books.
Many of the same labor laws and employment rules apply to churches as to non-profit organizations. This includes guidelines on classifying your workers either as employees, or independent contractors.
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.