If your fiscal year is not on a calendar year, the next most popular fiscal year is July 1st through June 30th. There are steps you need to take in the system once your new fiscal year starts. Year End Processing Guide The Year End Process Guide provides step by step instructions to prepare your… ⪼ Continue Reading…
Finance
Important: 2013 Payroll Tax Updates for Churches
You may have heard or read about the expiring tax cuts coupled with across-the-board government spending cuts that were due to be effective December 31, 2012. Many dubbed this the “Fiscal Cliff”. Congress let the December 31, 2012 deadline pass without passing legislation that would have averted this economic disaster. However, in early 2013 legislation… ⪼ Continue Reading…
Do you know which accounting method is right for you?
When I took accounting in college, one of my fellow students asked the instructor why we had to complete our homework assignments by hand. After all, it is the 21st century; everyone just uses accounting software now! The wise accounting instructor rebutted by explaining that we need to understand how to do accounting with a… ⪼ Continue Reading…
Free E-Book: Fund Accounting for Church Leadership
If you’re ready to get serious about your church’s finances, then we have a treat for you! Accounting is an often overlooked section of church management. Many times little or no attention is paid to church financials except during a time of crisis or when there is an upcoming audit. We decided to create an… ⪼ Continue Reading…
Church Document Spring Cleaning — Easy to Follow Table
Spring is in the air! If you are like me, you may feel motivated to do a little spring cleaning around the house. It feels good to get rid of papers, magazines, and other items that have been accumulating all winter. The sweater Aunt Marge gave you for Christmas three years ago that you never… ⪼ Continue Reading…
The “You don’t have to be a CPA to learn Fund Accounting” Series: Part 4
The way churches structure their accounting really starts at what the accounting standards dictate and what the users want to see in the reports. In essence, the church must start at the end – the reports – and work their way backwards to see what will produce the desired result. Now that we have examined… ⪼ Continue Reading…