Spring is in the air! If you are like me, you may feel motivated to do a little spring cleaning around the house. It feels good to get rid of papers, magazines, and other items that have been accumulating all winter. The sweater Aunt Marge gave you for Christmas three years ago that you never… ⪼ Continue Reading…
non-profit
The “You don’t have to be a CPA to learn Fund Accounting” Series: Part 4
The way churches structure their accounting really starts at what the accounting standards dictate and what the users want to see in the reports. In essence, the church must start at the end – the reports – and work their way backwards to see what will produce the desired result. Now that we have examined… ⪼ Continue Reading…
What you can learn about Fund Accounting from Garth Brooks
Earlier this year, CBS News reported that Garth Brooks filed a lawsuit against a hospital in Oklahoma. Both sides had a different story to tell: The hospital claimed the donation was anonymous and unrestricted. Brooks claimed the donation was solicited by the hospital so they could build a women’s center named after his late mother.… ⪼ Continue Reading…
The “You don’t have to be a CPA to learn Fund Accounting” Series Part 1
In today’s economy, churches often compete with other charitable organizations for valuable member donations. If members are experiencing financial setbacks, they may have less money allocated toward charitable giving. Churches will want to make sure they have their donation and accounting systems set up correctly so that member donations are accurately recorded and donation statements… ⪼ Continue Reading…
Is Your Church’s “Big Game Party” Politically Correct?
We were surprised to learn that there are actually rules a church needs to follow when hosting a get-together for the “big game” this weekend. In addition to avoiding copyright infringement, churches have other guidelines to follow such as only showing live events (i.e. no recordings) and not charging an entrance admission, although donations may… ⪼ Continue Reading…
Why a Church Balance Sheet is like a Pizza Pie
According to the Financial Accounting Standards Board (FASB), nonprofit organizations – no matter the size – must produce a Statement of Financial Position. The Statement of Financial Position is a church balance sheet. In the past when viable software solutions were not available, churches would use separate checkbooks to keep the money separate for their… ⪼ Continue Reading…