Church Accounting: The how to Guide for Small & Growing Churches (Accountant Beside You) (in English)
Synopsis "Church Accounting: The how to Guide for Small & Growing Churches (Accountant Beside You) (in English)"
The best-selling, must-have reference for small and growing churches has been updated and expanded!Learn what you need to know to manage the finances and keep your religious organization out of trouble with the IRS.Topics include how to: Determine whether to file for a 501c3 or notEstablish controls to keep the money safe and guard against errorsRecord and acknowledge donations of cash, stock, vehicles, in-kind, and moreSetup and maintain a benevolence fundCalculate and file payrollStructure pastor payroll and housing allowancesBudget for the next yearRecognize if you owe Unrelated Business Income Tax (UBIT)How to fill out the 990N and 990EZ, And so much more.Lisa London CPA is the author of The Accountant Beside You series of resources for the non-accountants in nonprofits, churches, and small businesses to understand their accounting needs. She has decades of experience in auditing and consulting large and small organizations.Vickey Richardson is the founder and manager of Vickey's Bookkeeping, Inc., an accounting firm specializing in assisting churches. She is best known for her popular website, FreeChurchAccounting.com.ContentsChurches and the IRS-Administrative IssuesIIRS definition of a church, basic steps for starting a church, by-laws, office organization, and how long to keep the accounting records.Proper Procedures and Internal Accounting ControlsEstablish strong internal controls with even the smallest staff with specific policies for money coming in and going out.What is Special About Accounting for Churches?Nonprofit accounting is different and how to set up your chart of accounts.How do I Select an Accounting System?Different types of accounting systems and how to decide which is best for your organization.Contributions-- Receiving and Recording, Acknowledging, and Special Topics Record donations, including specific controls for the various ways they are received. Discover how to acknowledge donations including Quid Pro Quo, non-cash, and vehicle donations. Also covers gifts to specific individuals, donated labor/services, in-kind contributions, discount donations, pass-throughs, and capital campaign contributionsBenevolence PolicySet up a discretionary fund that keeps the donor's deductibility.Paying the Bills and Reimbursement Policies Establish controls on the money going out and design an accountable reimbursement policy.Payroll--Basic Steps, Calculating & Filing, Part III: MinistersHow to calculate and file payroll, including special minister requirements and housing allowances.BudgetingEasy approach to planning and cash flow.Month-End and Year IssuesProcesses, reconciliations, reporting, and audit preparationUnrelated Business Income Taxes (UBIT) Form 990N & 990EZExamples and line by line instructionsAppendix with sample chart of accounts, month-end checklist and list of IRS sites.
