This article post was originally published June 6, 2014. There are 2 types – or methods – of accounting: cash based accounting and accrual based accounting. In this post, we’ll explore the differences and the pros and cons between cash vs. accrual accounting. Cash based accounting – is when an organization writes the check out… ⪼ Continue Reading…
church accounting services
Cash or Accrual Based Accounting?
Should a church use cash or accrual based accounting? The short answer is it depends on multiple factors if a church should use cash or accrual based accounting. For more information on fund accounting. Let’s first explain the difference by their accounting definition: Cash based accounting – is when an organization writes the check out… ⪼ Continue Reading…
Linking Donations to Accounting Part 4
This is the last of our four-part series on the unique IconCMO linking feature between your donations module and your accounting system. Your donation-accounting links give you Part 1 deals with the basics of how to set up your links. Part 2 shows the results you can get with your financial reports and donation statements.… ⪼ Continue Reading…
Linking Donations to Accounting Part 3
This is the third of a four part series. See part 1, part 2, or part 4. In part 1 and part 2 of this series, we looked at how our link between donations and the fund accounting system could be used to handle some regular donations. For this post and part 4, we’ll build… ⪼ Continue Reading…
Linking Donations to Accounting Part 2
This is part 2 of a four part series. See part 1, part 3, or part 4. In Part 1 of this series, we looked at the following situation: Joe Smith gives $50 to the General Fund – a designation for the money the church can use for its general operations. Mary Jones gives $20… ⪼ Continue Reading…
Linking Donations to Accounting For Easy Posting
Linking donations to accounting is one of the unique features of IconCMO. This is part 1 of a four part series. See part 2, part 3, part 4. Donors expect that churches will be faithful and responsible with their gifts. One aspect of the trust relationship is that churches need to make sure they use… ⪼ Continue Reading…