It will soon be time to start working on budgets, so it is also the time of the year that many church and nonprofit administrators start working on editing or cleaning up their COA (chart of accounts) in preparation of those budgets.
COA Clean Up Tips:
1) Unless you are a HUGE organization....300 + accounts is too many! An example of "trimming down" and "cleaning up" your current COA is to merge "too-detailed" sub-accounts. You do not really need to build and name each sub-account under Dues/Subscriptions: Mailchimp, Dropbox, Google, MSFT, etc.. If you need all of that detail, run a Vendor report. Less is "usually" better when it comes to COAs =)
2) Use the correct numbering system (if you use account numbers). One day you may need an accountant, bookkeeper, or financial institution to look over your accounting system or financial statements and you are going to really confuse us if you are not using the standard numbering system =)
See tips on creating or cleaning up a chart of accounts and how to use that standard numbering system ...
We all have experienced how the pandemic has negatively impacted churches across the country. Now with COVID-restrictions being lifted, people are returning to church services.
However, some financial experts are starting to see a shift in the financials of some churches, and it is something you need to be aware of. Churches that experienced strong or stable financials the past 18 months are starting to see a decline in their giving compared to previous months.
Church Financial Group (CFG) is a new business that brings over a half-century of marketplace and ministry experiences for churches and non-profit organizations.
For a limited time, they are offering a Free Financial Assessment to churches. This assessment will help churches learn where they are and where they need to be financially. After reviewing the form, they will schedule a Free/No Obligation Consultation Call to share ideas on how they can serve you and our church....
"I am a congregational president who REALLY needed an instructional book that could give me 1) an overview 2) as well as some pointers and how to do X. This book was perfect. It is practical, to the point, and doesn't waste your time with detail after detail so that you cannot find the forest for the trees. There is a clear path.
This book is ideal for 1) the small or startup church or 2) the church that has been around for 50+ years and has picked up a bunch of bad habits. I will leave you to guess which is true in our case - T Fleming"
One of the many testimonies of church administrators that have purchased and loved this resource book! Get 10% off by using the discount code: FCA.
The How-To Guide for Churches is a must-have reference for all the nuts and bolts of church accounting no matter what accounting system you are using...