While you focus on getting to know your community and growing your organization, we'll work to make the accounting function easy and ensure that your financial records are maintained correctly and accurately.
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Church bookkeepers have for a long time been confused with accountants. They, however, carry very different responsibilities. Bookkeepers maintain the financial records of the church that includes income and expense records. They are supposed to keep records of the dates and amount of every transaction of the church. It is also their task to keep track of all accounts and are the ones who verify the accuracy of the procedures used in the accounting processes. Accountants, on the other hand, perform all the tasks of bookkeepers and also provide auditing, tax planning, financial planning, payroll processing, and consulting services.
No two churches are the same. The needs of each church vary due to size, availability of volunteers, resources, and staffing abilities. FT Walton Church Bookkeeping LLC offers several options to help churches with exactly what they need from managing their financial system to coming alongside and helping the one that is in place. Here are four service options. You can contact us to have one customized for your congregation:
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.
Congregants will feel more secure knowing that their donations and tithes are being used in the right way. Congregants will be more inclined to give if they know that their donations have been used well.
We offer our clients an in depth knowledge of the unique challenges facing religious organizations today. We spend many hours every year continuing to stay abreast of the new regulations and current tax laws that will affect our non-profit clients including churches, synagogues, mosques, church schools, church daycares and other religious-based organizations.
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.
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.
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.
Churches And Transparency
The standards of the Evangelical Council on Financial Accountability require that member organizations provide audited financial statements on request.