FT Walton Church Bookkeeping LLC is proud to offer the best in affordable nonprofit and church accounting in Atlanta and throughout the state of Georgia. We understand that nonprofits are an integral part of the community. They play an essential role in building strong communities. Our team helps them thrive, grow, and succeed. Outsourcing your church or nonprofits accounting offers endless benefits. Please contact us and tell us on we can assist your church or nonprofit. We are always here to help.
You will discover errors like duplicates or missing transactions, bank errors on rare occasions and amount discrepancies by reconciling your accounts with your bank, credit card, and bank statements.
Many churches and nonprofits are struggling to make ends meet with their limited resources. Nonprofits can save significant time, stress, money, and valuable resources by outsourcing their financial management. Time spent on books can be time well spent by you, the leader of your nonprofit.
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.
As your church expands, you might require more functionality beyond what QuickBooks Premier Plus offers. Your growing church will require you to manage volunteers and events as well as enable online giving. You may even need to run email campaigns.
There is another reason to keep track . It helps you make better financial decisions. You should be able to look at a report and see how you spend more on expenses than you did in prior years.
For a church to be financially healthy, accuracy and expertise are essential. A qualified and trained bookkeeper is an expert who understands the best way to enter, complies with federal and local requirements, and makes sure your reporting is accurate.
Here is a quick breakdown of some of the most common tasks you will need to accomplish when doing your church bookkeeping.
Enter Income And Expenses. ...
Track Contributions And Prepare Bank Deposits. ...
Pay Bills. ...
Journal Entries. ...
Complete A Bank Reconciliation.
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.
Churches and religious nonprofits must maintain highly accurate accounting and bookkeeping records in order to maintain their nonprofit status, budget accurately, and provide reporting to government entities and their parishoners or members.
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.