Pass-through accounts are established when a church collects money on behalf of an organization or event and does not want to record the money as income. These accounts are set up as liabilities instead of revenue accounts since the money will only pass-through the church to another organization. Follow the instructions below to create liability… ⪼ Continue Reading…
Finance
IconCMO Year-End Processing 2015
Okay, okay! It’s not time to count down until midnight and sing Auld Lang Syne yet. But it is time to start thinking about wrapping up your church’s financials for the year and getting ready for 2023. UPDATE ———————————- IconCMO went through recent changes in 2022 where year end processing for donations is not needed. The… ⪼ Continue Reading…
Church – Having Too Many Checkbooks
Does your church use multiple checkbooks to track money? Were the accounts opened when a new church purpose was needed? Are you tired of reconciling multiple checkbooks? Why does an organization have so many checkbooks? All of these questions and many more should be answered by any organization that is using more than one checkbook… ⪼ Continue Reading…
Are Donations Increasing or Decreasing?
In a church’s financial history lies many reasons why a church’s donation either increased or decreased. Listed below are some possible reasons why donations increase or decrease. Always keep in mind that any church needs a way to track donations preferably via software. The following are in no particular order. A good economy will typically… ⪼ Continue Reading…
Cash Flow and How the Church Reacts to it.
Most people have heard the phrase “cash is king” and when it comes to church finances and budgeting through the year, churches would probably agree with this statement. After all, does the church really like to borrow money in the summer months just to make payroll, fund a ministry, or keep the lights on in… ⪼ Continue Reading…
E-File your W-2 & 1099’s
We have partnered with Yearli. The integration will pull W-2 information from IconCMO into Yearli software. After creating a login the user can pull W-2 information from IconCMO via an export and import into Yearli for their W-2 filing. Yearli’s simple user interface will show the user what needs to be corrected before E-Filing