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Church Bookkeeping Best Practices

Churches like yours handle significant amounts of money that need careful handling and management. Some of your activities include receiving and recording donations from patrons, investing in new church facilities, and paying salaries of your church employees. Just like a business, you must keep track of every transaction. Doing so will prepare you for every tax season and financial obligation.

Our team of non-profit accountants can help keep your financials straight and make sure your non-profit bookkeeping is always kept accurate. Our non-profit financial advisers are well-experienced in financial record-keeping for 501(c)(3) organizations.

Understands Accounting & Non-Profit Bookkeeping Best Practices

When operating a small to mid-sized church, you know how easy it is to get pulled in several directions. This problem can be worse if you have a larger-sized church. You're in charge of activities such as fundraising, social media, email, community outreach, and making sure sermons go as planned.

With all these items to tend to, it can help to use a non-profit CPA who understands the best practices on non-profit bookkeeping for your churches. A professional non-profit accountant can assist you with several financial aspects associated with your church, such as the following:

  • Balance and reconcile your banking and investment accounts

  • Assist with budget planning

  • Process your church payroll

  • Record donations to your church and other income

  • Reconcile any petty cash receipts

  • Prepare church financials

We can help you stay current and up-to-date with your accounting responsibilities, and compliant to the latest accounting legislations and regulations.

Assisting With Tax Obligations & Non-Profit Tax Planning

Being unfamiliar with tax laws and policies can make complying with the IRS daunting. This is even worse when it is time for you to file your tax returns. One mistake in your tax filings can result in expensive penalties. Fortunately, with the help of a non-profit accountant, you can ensure you're handling payroll taxes correctly and reporting any taxable incomes.

Our team of experienced professional non-profit financial advisers can help you make sure your church financials are always compliant and updated. We can help you implement a non-profit tax planning strategy for both your short-term and long-term goals.

Keeping Your Church's Financial Assets Protected

By hiring a non-profit CPA to handle the financial transactions of your church, you can effectively reduce oversights, errors, and even fraud. Having a professional, independent accounting firm do your non-profit accounting greatly decreases the odds of having any misappropriation of funds. Our non-profit accountants can assist with creating checks and balances in your organization to help reduce the possibility of fraud. We can also help set up financial controls in your church's financial processes.

Helping With Loan Qualifications

There are times when your church will require more funds than it currently has. It can be for a building project or a new roof. Whatever the reason is, your most likely source of funds would be loans. By having our non-profit financial advisers provide you with our excellent non-profit CFO advisory services, we can help maintain accountability in your church.

Our experienced non-profit financial advisers specialize in areas such as risk management, contract negotiations, and long-term strategic planning. We, at Fusion CPA, can help provide everything you need when your church needs to borrow money. Our non-profit CPAs can make sure your financial reports are in order and help safeguard against taking unnecessary risks. You can learn more about our services by clicking the button below to schedule a complimentary discovery call today!

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This blog article is not intended to be the rendering of legal, accounting, tax advice or other professional services. Articles are based on current or proposed tax rules at the time they are written and older posts are not updated for tax rule changes. We expressly disclaim all liability in regard to actions taken or not taken based on the contents of this blog as well as the use or interpretation of this information. Information provided on this website is not all-inclusive and such information should not be relied upon as being all-inclusive.