One of our customers recently contacted us with an interesting scenario. She needed to be able to identify youngsters in their church who would be 5 years old by 9/1/2014. She asked us how she could generate such a list in IconCMO. IconCMO has several birthday reports which can provide such information. We started by… ⪼ Continue Reading…
church accounting software
Fund Transfers and Account Transfers, part 2 of 2
In Part One of this series, we learned that a fund transfer represents a reallocation of liquid assets from one fund to another. We also learned about the four main situations in which funds transfer money, and how to record a fund transfer in IconCMO. In Part Two, we turn our attention to account transfers… ⪼ Continue Reading…
Fund Transfers and Account Transfers, part 1 of 2
Fund transfers and account transfers are necessary transactions in any nonprofit organization’s financial activities. It’s important to understand the difference between a fund transfer and an account transfer, and how you can perform them in IconCMO. In this first of our two-part series, we will explore fund transfers. Try our Church Management Software or request a… ⪼ Continue Reading…
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…
Common Church Accounting Mistakes with Checkbooks
There are some common church accounting mistakes made for a variety of reasons. Maybe it is because the software they are using couldn’t handle the various situations that are needed. It could be a church process that was made a long time ago and when questioned — you get the typical answer, “that’s how we… ⪼ Continue Reading…
Easy Church Fund Accounting Tools!
Tips on how you can make it easier for your organization to record transactions and accomplish the daily accounting work using a church fund accounting system like IconCMO. Now that we know the differences between funds and COA from part one. And have seen an example in part two using families. Then in part three… ⪼ Continue Reading…