djamal-soft
الثلاثاء، 4 يونيو 2019
The church business has grown, and it is now an industry that controls billions. It is important to manage this money wisely. Accounting or bookkeeping is the process at which organizations collect record and analyze financial information in a format that is easy to understand for the stakeholders. Since a church is a non-profit organization, people generally assume that accounting is no important. But it is extremely important to have sound policies when it comes to Bookkeeping for Churches. If you do not see the need to have accounting policies in your church, the article will elaborate on the benefits accrued by having a functional accounting system in your church.
Proper financial records make it easy to identify church assets and properties. This is the step to ensuring that they are properly managed. Church assets can be exploited and misused if they are not properly managed. Assets and properties show how much financial leverage a church has. Bookkeeping will also help with identifying all the liabilities that a church has and a true financial position of the church can be known from this information.
Just like any other organization, a church has projects which need to be carried out. These projects need financial resources. The church stakeholders need to know how much money the different projects require before they start them. Accounting records help the stakeholders to know this information. With this, the projects are carried out successfully, and hence, the church is able to progress.
A huge percentage of church money comes from donors and church members. As much they are not interested in day to day running of the church, they need reassurance that their money is being properly utilized. If they do not get any sense of accountability from the church, they might not donate money in the future. Having books of accounts creates a sense of accountability and transparency, which helps in securing donations.
Sometimes a church may require a lot of money for their projects. One of the ways to get such money is through getting loans from financial institutions. For you to be given a loan, you need to have financial records of your organization. This is why keeping these records is essential.
The government oversees the operations of every business entity. Although a church is not a business, it is seen as one by the government because it generates income. So the government will require that you provide them with detailed information about the operations of the church and one of the documentation that you need is the financial records of the church. So, in this case, you will need to prepare financial records.
As church members, you need to know whether your church is growing or not. You can only know this when you evaluate your financial records. An accountant is needed to create and keep books of account so that you can be able to see the progress of the church financially.
Bookkeeping is very important but it is neglected by a lot of churches. It is assumed that a church may not require maintaining their books because it is not considered a profit-making organization, but, this is not the case. As a church leader or manager, you should insist on having good financial records. The advantages of having these records have been highlighted to offer informative information when you are discussing whether to hire a bookkeeper or not.
Proper financial records make it easy to identify church assets and properties. This is the step to ensuring that they are properly managed. Church assets can be exploited and misused if they are not properly managed. Assets and properties show how much financial leverage a church has. Bookkeeping will also help with identifying all the liabilities that a church has and a true financial position of the church can be known from this information.
Just like any other organization, a church has projects which need to be carried out. These projects need financial resources. The church stakeholders need to know how much money the different projects require before they start them. Accounting records help the stakeholders to know this information. With this, the projects are carried out successfully, and hence, the church is able to progress.
A huge percentage of church money comes from donors and church members. As much they are not interested in day to day running of the church, they need reassurance that their money is being properly utilized. If they do not get any sense of accountability from the church, they might not donate money in the future. Having books of accounts creates a sense of accountability and transparency, which helps in securing donations.
Sometimes a church may require a lot of money for their projects. One of the ways to get such money is through getting loans from financial institutions. For you to be given a loan, you need to have financial records of your organization. This is why keeping these records is essential.
The government oversees the operations of every business entity. Although a church is not a business, it is seen as one by the government because it generates income. So the government will require that you provide them with detailed information about the operations of the church and one of the documentation that you need is the financial records of the church. So, in this case, you will need to prepare financial records.
As church members, you need to know whether your church is growing or not. You can only know this when you evaluate your financial records. An accountant is needed to create and keep books of account so that you can be able to see the progress of the church financially.
Bookkeeping is very important but it is neglected by a lot of churches. It is assumed that a church may not require maintaining their books because it is not considered a profit-making organization, but, this is not the case. As a church leader or manager, you should insist on having good financial records. The advantages of having these records have been highlighted to offer informative information when you are discussing whether to hire a bookkeeper or not.
About the Author:
When you are seeking affordable bookkeeping for churches, you can trust our certified accountant to serve your needs. Pay a visit to the following page at http://www.wardlawcpa.com immediately!
Category ›
ليست هناك تعليقات:
إرسال تعليق