Church Accounting vs. For Profit Accounting

▤ Summary

These examples show what happens to fund balances, revenue, checkbooks, and expenses as transactions take place. For example, you can see the General, Youth, and Mission fund and have their numbers combined to see how the overall organization is financially. In fact, CPA’s and anyone that deals with accounting, will tell you if you don’t know the fund, debit, and credit, you have no business inputting the transaction. Before entering one number in a not-for-profit accounting system you need three pieces of information — the fund, debit and credit. In other words, some transactions and their disbursements, are missing key information in regards to the fund assigned to the credit and debit.

▦ Linked Companies

Icon Systems, Inc.

$1M to $5M