Let’s start out this topic of accounting for churches with two quotes. The first is from Charlie Munger, Warren Buffett’s business partner for over four decades. Charlie once said, Proper accounting is like engineering. You need a margin of safety. Thank God we don’t design bridges and airplanes the way we do accounting. Charlie Munger.… ⪼ Continue Reading…
church management software
Quickbooks For Church Accounting
When choosing a church accounting package, the first question that should be asked of any package is — does it obey the Financial Accounting Standard Boards (FASB) Topic 958 and other rules set forth by GAAP and the IRS? If the software doesn’t enforce strict guidelines to follow these rules, then it really doesn’t matter… ⪼ Continue Reading…
A Church Chart of Accounts Explanation – Part 1
The church’s chart of accounts (CoA) is the building block for your entire church accounting system. In a proper church accounting system, the CoA works in conjunction with funds, to create a robust church fund accounting system that answers the question of accountability. Funds working with the CoA, provide a multiple tier reporting structure that… ⪼ Continue Reading…
Choosing a Church Accounting Software
Deciding which church accounting software to purchase is a difficult decision to make. Selecting the financial team that carries out the day-to-day operations of the church is equally as difficult. Both need to be reliable to ensure the church has the best available information to make financial decisions. Accurate financial statements reflect assets, liabilities, and… ⪼ Continue Reading…
Church Membership Online — Save Your Church Stress
We are going to discuss why your church membership software should be online. If your church is still struggling to get online with a church membership software in 2021, then it’s now or never. Web-based applications have been out since about 1999. In the early days of church software, all of the programs were either… ⪼ Continue Reading…
3 Reasons For-profit Financial Software Doesn’t Work
Financial software comes in many shapes and sizes for various industries. Each industry requires unique financial transactions to be carried out by its software. Financial software packages that are rooted in the for-profit world have one major devastating flaw. They fail miserably when used in churches or governmental accounting. Then, why are these packages sold… ⪼ Continue Reading…