Is there a difference between church bookkeeping software vs church accounting software? If so, what is it? Accountingtools.com Defines Bookkeeping Bookkeeping: Bookkeeping involves the recordation of basic business transaction in a recordkeeping system. Merriam-Webster Defines Accounting Accounting: The practice and body of knowledge concerned primarily with: 1. Methods for recording transactions2. Keeping financial records3. Performing… ⪼ Continue Reading…
irs compliant software
Four Key Elements for Church Donation Software
When churches are looking for church donation software, they should make a list of the specific functionality they want immediately. Additionally, what needs exist in the next 5-10 years for the church donation software? Smaller organizations and church plants may not be ready for online donations however; the availability of this option later is crucial.… ⪼ Continue Reading…
Benefits of a Church Payroll Solution (Part II).
Church Payroll Software Cost and its Benefits One option for churches is to outsource payroll responsibilities. Payroll services typically charge $1 or more per check, with a minimum fee of $10-25 each pay period. Additional fees are often incurred for quarterly reports and W-2 preparation. These fees can amount to a substantial number over time.… ⪼ Continue Reading…
The Secret to Affordable Church Payroll Software! – Part 1
Payroll is one of the most difficult, time consuming, and costly administration tasks churches repeatedly encounter. Churches of all sizes are required to use “fund accounting” as described by the Financial Accounting Standards Board (FASB) guidelines. Fund accounting is a specialized way of accounting designed for nonprofits; if you use this accounting method we recommend… ⪼ Continue Reading…
Postal Service May Eliminate Nonprofit Discount.
The Postal Service (USPS) with the help from Rep. Darrell Issa is trying to eliminate the 40% discount for mailing that nonprofits enjoy. HR2309 is the law that Congress is trying to pass which would eliminate almost all but 10% of the nonprofit discount within 6 years. At Icon Systems, we forecasted this years ago… ⪼ Continue Reading…
7 Steps to Maintaining your Church Tax Exempt Status
Jean Hemphill, Esq. did a wonderful write up of what to look for in church software. Below is just a summary of some of the information you will find. Know what regulations pertain to churches and what organization creates them. Filing the right paperwork quarterly and annually. Ensure staff is properly paid as per the… ⪼ Continue Reading…