Your church's leadership and administrative team will be able focus on the mission of the church, not its bookkeeping.
While you concentrate on your community and building your organization, our team will work with you to simplify the accounting process and make sure that your financial records remain accurate and up-to-date.
Churches can and do get slapped with devastating penalties for classifying and paying a worker with a 1099 ...that the IRS deems should have been classified as an employee.
Outsourcing is a good option. A bookkeeper outsourced can be a great option for smaller churches to medium-sized ones. It will increase the expertise and accuracy of your bookkeeper, as well as lower costs. Let's take a closer look at each of these:
The church bookkeepers are often mistaken with accountants for a long period. They have very different responsibilities. Bookkeepers are responsible for maintaining the financial records of the church. This includes income records and expense records. They are responsible for keeping records of every transaction that the church makes. It is their job to keep track all accounts. They also verify that accounting procedures have been followed correctly. Accounting, on other hand, does all the accounting work and provides auditing and tax planning as well as financial planning, payroll processing and consulting.
Accuracy and expertise are critical for good financial health in any church. Having a trained and qualified bookkeeper means having an expert who knows the right way to make entries, understands and complies with local and federal requirements, and ensures your reporting is accurate.
We know. You didn’t enter ministry to become an accounting professional. You are a church leader because you want to make disciples and share Jesus Christ's good news.
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.
seven years
Financial Records are traditionally kept for seven years. This relates to the laws of tax audits and the number of years back the IRS is allowed to look when determining an organization's tax liability.
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.