Our tax consultants are not-for-profit and have extensive experience in working with churches, synagogues, and other faith-based groups to reduce their taxes and maintain their tax exempt status.
You also need to be able to look at that bank balance and know at a glance how much of it is designated or restricted funds and how much is left to keep the lights on.
One thing to be aware of: As your church grows, so does the cost. In addition, most of the features beyond basic church management and accounting come with an extra price tag. But if you’re looking to grow, Atlanta Church Bookkeeping LLC will grow with you.
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However, every church needs to manage finances. Weekly tithes, offerings and taxes are due. There are bills to pay and needs to meet. And, of course, salaries to be paid. It's hard to keep track. Even if your Excel skills are not great and you don't understand how to tell a debit from credit, church accounting software can help you navigate the terrain.
Our church bookkeeping services are available now to help you ensure that your policies and financial records are in order. You may have a small team so it is a good idea to outsource your bookkeeping services. This will allow you to focus on your growth and not get behind.
A church bookkeeping system should be set up that tracks income and expenses as well as assets and liabilities.
Churches call the traditional balance sheet a statement of financial position. It uses the accounting equation “Assets = Liabilities + Equity” to show a snapshot of your organization's financial health. It also shows the current balance of each of your funds if you've been implementing fund accounting for your church.
Churches And Transparency
The standards of the Evangelical Council on Financial Accountability require that member organizations provide audited financial statements on request.
Churches and religious nonprofits must maintain highly accurate accounting and bookkeeping records in order to maintain their nonprofit status, budget accurately, and provide reporting to government entities and their parishoners or members.