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If you reconcile your bank and card statements with your accounting, you can identify errors like duplicates, missing transactions or bank errors on rare occasions.
Churches can be and do receive severe penalties for paying workers with 1099s to whom they are not employees.
You can decide whether you want to pay an independent contractor or an employee if you are unsure.
You will discover errors like duplicates or missing transactions, bank errors on rare occasions and amount discrepancies by reconciling your accounts with your bank, credit card, and bank statements.
So why not consider outsourcing? Outsourcing can provide an additional link in internal controls and increase expertise and accuracy for some small- to medium-sized churches. Let's take an in-depth look at each:
The church cannot keep its books organized by keeping a check book.
Working in church accounting, you share the same responsibilities as an accountant in any other organization. You record expenses, track contributions made by the congregation, and monitor spending on various programs. Your duties center around bookkeeping, documenting and controlling finances for a church.
81% of church revenue came from individual donations. 34% of congregations have endowments, which constituted on average 4% of their revenue. Only 2% of churches received revenue from government grants; 12% received finance from non-government grants.
Common Church Budget Categories
Personnel (salaries, benefits, etc.)
Administration (operating expenses)
Facilities and Equipment (utilities, insurance on property, maintenance)
Outreach (missions, evangelism, social events, etc.)