202111 May
Quickbooks For Church Accounting
Type
General News
Companies
Source
Google
Summary

Not following the rules, regulations and policies will eventually catch up to the organization, and they will pay the price via fines or losing tax exemption. Churches must have their reporting broken down because of donor imposed restrictions so they can show accountability to the purpose that the donation was collected for. Unlike balance sheet reports and P&L’s that show what was already done — ie historical numbers, budgets are trying to predict the future based on past accounting cycles. By tagging each transaction with a fund we are essentially creating different containers of money within the common revenue account called 4000-donations. As we discussed earlier using Quickbooks is a poor choice for church accounting because of the inability to report on each fund separately.

Classifications
  • Accounting and Taxes
  • Fintech & Banking
  • Clubs, Membership and Sports
  • Church Management Software
  • Basic Accounting