7 Ways IconCMO Can Save You Money
Here are just a few ways your church can use IconCMO, a web-based church management solution, to reduce some expenses and save a few trees along the way. This list is certainly not exhaustive, so...
View ArticleThe “You don’t have to be a CPA to learn Fund Accounting” Series: Part 1
In today’s economy, churches often compete with other charitable organizations for valuable member donations. If members are experiencing financial setbacks, they may have less money allocated toward...
View ArticleThe “You don’t have to be a CPA to learn Fund Accounting” Series: Part 2
You don't have to be a CPA to learn Fund Accounting* The way churches structure their accounting really starts at what the accounting standards dictate and what the users want to see in the reports. In...
View ArticleThe “You don’t have to be a CPA to learn Fund Accounting” Series: Part 3
You don't have to be a CPA to learn Fund Accounting* The way churches structure their accounting really starts at what the accounting standards dictate and what the users want to see in the reports. In...
View ArticleThe “You don’t have to be a CPA to learn Fund Accounting” Series: Part 4
The way churches structure their accounting really starts at what the accounting standards dictate and what the users want to see in the reports. In essence, the church must start at the end – the...
View ArticleSpring Cleaning: How long should you keep important documents?
Spring is in the air! If you are like me, you may feel motivated to do a little spring cleaning around the house. It feels good to get rid of papers, magazines, and other items that have been...
View ArticleFree E-Book: Fund Accounting for Church Leadership
If you’re ready to get serious about your church’s finances, then we have a treat for you! Accounting is an often overlooked section of church management. Many times little or no attention is paid to...
View ArticleDo you know which accounting method is right for you? Bonus: FREE 15 minute...
When I took accounting in college, one of my fellow students asked the instructor why we had to complete our homework assignments by hand. After all, it is the 21st century; everyone just uses...
View ArticleImportant: 2013 Payroll Tax Updates for Churches
You may have heard or read about the expiring tax cuts coupled with across-the-board government spending cuts that were due to be effective December 31, 2012. Many dubbed this the “Fiscal Cliff”. Photo...
View ArticleQuarterly Meetings – What Reports Do You Need?
Photo Credit: dantaylr Around this time of year, church boards often have their first quarterly meeting and review the financial aspects of the church. Church accounting systems like CMO offer a great...
View ArticleYear End Processing : Fiscal Year Ending June 30, 2013
If your fiscal year is not on a calendar year, the next most popular fiscal year is July 1st through June 30th. There are steps you need to take in the system once your new fiscal year starts. Year End...
View ArticleWhen Organizations Donate to Your Church
Donations to a church don’t necessarily always come from members, or even outside donors. They can also come from organizations – either nonprofit or for-profit. The organizations may be donating to...
View ArticleWhen Organizations Donate to Your Church (part 2)
This is part 2 of a series regarding how churches respond when other organizations collect donations on their behalf. Last week, we looked at a scenario where people donate to a nonprofit, which in...
View ArticleWhat if They Give Stuff, Not Money? When Organizations Donate to Your Church...
This is our third and final post dealing with how your church can responsibly handle donations from other organizations. Click to see part 1 and part 2. So far, we’ve only talked about donations of...
View ArticleEasy Church Fund Accounting
This four part series will cover the following: Explanation of Funds, Chart of Account (COA), and double entry accounting. An analogy using a family instead of funds. (Read on for Part One) How tagging...
View ArticleSeparate Funds Make Church Accounting Easy.
How tagging transactions with funds helps with reporting. As mentioned in part one of this four part series, tagging transactions with “the dad fund’ (DF for short) or ‘the mom fund’ (MF for short) can...
View ArticleIRS – Reporting a Change in Responsible Party
Photo Credit: dantaylr Does your church need to report a change in its “responsible party”? What is the “responsible party” anyway? Basically, the responsible party is the person in charge of, or in...
View ArticleLinking Contributions to Accounting
Broad Iron Chain by Toni Lozano Donors expect that churches will be faithful and responsible with their gifts. One aspect of the trust relationship is that churches need to make sure they use the...
View ArticleLinking Contributions to Accounting Part 2
Broad Iron Chain by Toni Lozano In Part 1 of this series, we looked at the following situation: Joe Smith gives $50 to the General Fund – a designation for the money the church can use for its general...
View ArticleEasy Church Fund Accounting Example!
Now that we know the differences between funds and COA from part one and experimented with a family analogy, part two, let’s use different names for the funds instead of “the mom fund” and “the dad...
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