Financial information:
Each month we will work in partnership with your ministry to produce a complete financial record of your cash receipts and disbursements, including:
- Balance Sheet - An up to the day detailed financial picture. It includes all the ministries assets, liabilities, and its fund balances.
- General Ledger Report - A detailed report of all account activity. This report shows the effect each transaction has on each of the ministry accounts. Beginning and ending balances of each account are included.
- Income and Expense Report - Reports all ministry income and expenses. This report shows your cash-in vs. your cash-out.
- Bank Reconciliation - For each checking account. Approved accounting procedures detailing bank balances and service charges.
MINISTRY GIFT
Each month we can prepare for your ministry a complete record of each contribution received. All delivered in a handsomely bound report and includes the following information:
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Service Summary - A detailed report of each contribution. All contributions will be summarized for each worship service. The report includes a breakdown of all contribution designations such as Tithes, Offerings, Building Fund, or special categories your church uses. A record of check numbers. A statistical analysis of the worship service such as the average contribution, and the number of contributors. Each worship service has a money trail which supports evidence of the bank deposit.
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Monthly Summary - A detailed report grouping each contributor’s gifts. The report list; All dates, check numbers, and all of the contributor’s name
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Contribution Receipts - We can also print acknowledgment letters for each contribution of $250 or more. At the end of each year we produce the new required contribution report, listing all dates, check numbers, and amount of contributions for the entire year in date order. |
MINISTRY PAYROLL
The proper administration of Payroll is necessary in all businesses. Church's have a difficult time in preparing payroll. Ministers are employees of the corporation for income tax purposes, and self-employed for Social Security and Medicare. Your housing allowance may be subject to Social Security and Medicare taxes. Some ministers have been exempt from Social Security and Medicare. Some are required to file. Call us for an explanation.
MINISTRY INTERNAL CONTROL
Every system used to handle your cash flows, from contributions given, to the checks you write. Ministries loose millions of dollars each year from mismanagement and theft. Don't think your ministry is exempt! We will design Internal Controls for your ministry.
MINISTRY FINANCIAL CONSULTING
We will advise your church or ministry how to keep your financial books in order. Keep your Corporate Book up to date. Give you financial advice, and methods to gather, record and report it. We can also advise you on setting up a computer system for your ministry, and advise you on the programs to purchase. We can make available to your ministry various program setups to satisfy your ministry requirements.
MINISTRY PROTECTION
Your ministry is vulnerable to changes in IRS regulations, HRS requirements, state and local government policy and law changes. You must be completely familiar with tax reporting (1099s, 941s, 990s, etc.) Clergy personal liability & income taxes, Social Security, and a litany of others. Keeping your "Corporate Book" up to date is vital. Information such as this is crucial to the continuance of your ministry. The lack of some of this information could place your ministry in danger of losing it's Tax Exemption. Financial Stress Reduction will keep you informed on all changes in these areas.
MINISTRY FINANCIAL PLANNING
What is the proper way to plan for retirement?
Church's are the last in planning for employee retirement. Pastor's salaries are much lower than average. Associates are at the bottom of the pay scale, and have no retirement. They routinely have to leave your church to start their own to survive. Sometimes they take a portion of your congregation with them. Proper financial planning is essential today.
Financial Stress Reduction will educate your personnel in all areas of finance planning.
Do you have proper "medical pay" insurance for injuries at your church? How about auto insurance, comprehensive, fire, theft, and general liability insurance? Workers Compensation Insurance? Employee Group Medical? Unemployment Compensation? You must be familiar with all types of insurance.
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