Fund accounting is a type of accounting for not for profits. In this post we are gonna go over multiple facets of fund accounting. We’ll first discuss the governmental regulations on why churches must use fund accounting. Next we will go over how using fund accounting creates a bond of trust with your donors, and… ⪼ Continue Reading…
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Fund Accounting Definition – Churches & Not For Profits
The official definition of fund accounting is described as “(1) an accounting system for recording resources whose use has been limited by the donor, grant authority, governing agency, or other individuals or organisations or by law. (2) It emphasizes accountability, rather than profitability, and is used by Nonprofit organizations and by governments. In this method,… ⪼ Continue Reading…
Breeze Church Management vs IconCMO Church Software
IconCMO is a powerful but simple to use software package for any size church. It’s a great alternative to the Breeze Church Management System (ChMS). Read on to see why. This article offers facts and opinions regarding IconCMO and Breeze. We will attempt to show both products in an honest light. We hope you find… ⪼ Continue Reading…
Church Accounting Software – Is It Important?
Church accounting software is important. We go over why its important, best practices, pitfalls, requirements, history, and for-profit vs not-for-profit.… ⪼ Continue Reading…
Create Recurring Donation Batches in IconCMO
Did you know that you can create a batch of recurring transactions? After a recent focus meeting, we’ve discovered that many organizations using IconCMO are unaware of how to duplicate batches. It’s a handy tool that can save you a lot of time. Here’s how it works: Once the duplicate icon is clicked a sub-screen… ⪼ Continue Reading…
Church Quarterly Meetings – What Reports do You Need?
Around this time of year, church boards often have their first quarterly meeting. Usually, the board will want to review the financial aspects of the church. Church accounting systems like CMO offer a great variety of financial reports to review just about anything you could think of. But what are the main reports that treasurers… ⪼ Continue Reading…