Clients
We know. You didn’t get into ministry to become an accountant. You became a church leader to make disciples and share the good news of Jesus Christ.
Religious and faith-based entities need the expertise, guidance, and support of a Certified Public Accountant.
Even if a member of your congregation is a nonprofit accountant or bookkeeper, engaging a specialist to help with your church’s bookkeeping will likely be a sizable investment. We encourage you to make this investment a priority. Doing so can benefit your church in three ways:
We know. You didn’t get into ministry to become an accountant. You became a church leader to make disciples and share the good news of Jesus Christ.
Laying all that aside....another important reason for keeping books...is to make good financial decisions. You need to be able to pull up a report and see that you are spending more on expenses than you were in prior years.
Events Income Not rated yet. We are trying to make sure our chart of accounts is categorized correctly.Besides our tithes and offerings, which we categorized as non-profit revenue …
Churches are under most of the same labor and employment laws that "for-profit" organizations are under. This includes the guidelines for classifying your workers as employees or independent contractors.
Churches can be and do receive severe penalties for paying workers with 1099s to whom they are not employees.
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.