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Church Accounting: The How To Guide for Small & Growing Churches
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
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.
Contents
Churches and the IRS-Administrative Issues
IIRS 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 Controls
Establish 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 contributions
Benevolence Policy
Set 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 Ministers
How to calculate and file payroll, including special minister requirements and housing allowances.
Budgeting
Easy approach to planning and cash flow.
Month-End and Year Issues
Processes, reconciliations, reporting, and audit preparation
Unrelated Business Income Taxes (UBIT) Form 990N & 990EZ
Examples and line by line instructions
Appendix with sample chart of accounts, month-end checklist and list of IRS sites.
Learn what you need to know to manage the finances and keep your religious organization out of trouble with the IRS.
Topics include how
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.
Contents
Churches and the IRS-Administrative Issues
IIRS 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 Controls
Establish 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 contributions
Benevolence Policy
Set 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 Ministers
How to calculate and file payroll, including special minister requirements and housing allowances.
Budgeting
Easy approach to planning and cash flow.
Month-End and Year Issues
Processes, reconciliations, reporting, and audit preparation
Unrelated Business Income Taxes (UBIT) Form 990N & 990EZ
Examples and line by line instructions
Appendix with sample chart of accounts, month-end checklist and list of IRS sites.
250 pages, Paperback
Published October 31, 2020
About the author
Lisa London
29 books38 followersHaving been bit by the writing bug, I began to see stories all around me. When my neighbor Hilde mentioned how much she had enjoyed her Hitler Youth group, I was intrigued. Not long after that, I was helping my 100 year-old Granny pack up things and found a beautiful embroidered tablecloth that looked almost new.
“Granny, I’ve never seen you use this. Why not?”
Sadness engulfed Granny’s face. “My brother, Bud, told me he got it off a German family when he was in the war. Every time I used it, I pictured that poor German family with a bare table.”
Needless to say, it broke my heart to see her so sad. When I mentioned it to my German neighbor, Hilde stopped me.
“Tell your grandmother her brother helped a German family. We were starving after the war. So people would trade their table linens for food. If the American soldiers had not ignored the non-fraternization rules, many of us would have starved.”
Not only did this make my grandmother feel much better, at that point, I knew I had a novel that had to be written–a World War II novel written from the German civilian perspective.
When I get focused on my writing, my husband Skip and our four children think I have completely forgotten how to cook or to help on our small farm in North Carolina. When not writing, I enjoy spending time on the coast, paddle boarding, kayaking, and boating with the family.
“Granny, I’ve never seen you use this. Why not?”
Sadness engulfed Granny’s face. “My brother, Bud, told me he got it off a German family when he was in the war. Every time I used it, I pictured that poor German family with a bare table.”
Needless to say, it broke my heart to see her so sad. When I mentioned it to my German neighbor, Hilde stopped me.
“Tell your grandmother her brother helped a German family. We were starving after the war. So people would trade their table linens for food. If the American soldiers had not ignored the non-fraternization rules, many of us would have starved.”
Not only did this make my grandmother feel much better, at that point, I knew I had a novel that had to be written–a World War II novel written from the German civilian perspective.
When I get focused on my writing, my husband Skip and our four children think I have completely forgotten how to cook or to help on our small farm in North Carolina. When not writing, I enjoy spending time on the coast, paddle boarding, kayaking, and boating with the family.
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January 13, 2015If you have been tasked with the accounting or bookkeeping for your church, this book is invaluable. It explains how to handle pastor salaries & taxes, housing allowances, donor acknowledgements, and all other church specific tasks.
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