Updated and Expanded for 990EZ, UBIT, the Tax Cuts and Jobs Act, and so much more!
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Overworked or volunteer administrators may not be equipped with the most up-to-date accounting knowledge that affects their church's ability to accept donations, oversee a benevolence fund, file church payroll, and offer a compensation package for their minister. Lisa London, the accountant who brought you QuickBooks for Churches & Nonprofits, understands and wrote this must-have reference to take the hassle out of church bookkeeping.
In this book, London delves into the specialized needs of church accounting for church administrators and volunteers, including:
- Essential steps for starting a church
- Internal controls to prevent fraud or error
- Recording and acknowledging church contributions, including vehicle donations and love offerings
- Benevolence fund management for your congregation's best interest
- Calculating and filing employee payroll
- Bill paying across programs and the impact of Tax Cuts and Jobs Act of 2017 on Accountable Reimbursements Plans.
- How to design and implement a compensation package for your minister, including a housing allowance, pastor payroll, and compensation package
- Preparation for an annual audit
- Budgets and forecasting future church growth
- Unrelated Business Income Taxes (UBIT) and how to complete a 990EZ.
Vickey Boatright, the accountant behind www.freechurchaccounting.com, joins London in helping you set up accounting spreadsheets, explaining different types of accounting packages, and guiding you through every imaginable aspect of church bookkeeping. Terressa Pierce of freechurchforms.com brings her 30+ years of expertise as she advises you on how to rearrange your church office. Together, this powerful trio will help you master the nuts and bolts of church bookkeeping with ease.
Lisa London is a CPA and top-selling author with decades of experience who has helped organizations reduce their accounting time dramatically. The Accountant Beside You series has been sold in all 50 states and every inhabitable continent. In addition to her detailed e- and print books, Lisa London offers supplemental and often free information online at www.accountantbesideyou.com and through her popular YouTube videos and webinars. If you are already using QuickBooks for your church, consider investing in QuickBooks for Nonprofits & Churches or save money by purchasing a church accounting bundle.
Whether you're just starting your church accounting journey or if you've been with the same spiritual home for years, The Accountant Beside You will be there every step of the way!
Contents
- Churches and the IRS-Administrative Issues
- Proper Procedures and Internal Accounting Controls
- What is Special About Accounting for Churches?
- How do I Select an Accounting System?
- Contributions—Part I: Receiving and Recording
- Contributions—Part II: Acknowledging
- Contributions—Part 3: Other Topics
- Benevolence Policy
- Paying the Bills
- Reimbursement Policies and Procedures
- Payroll—Part I: Basic Steps
- Payroll—Part II: Calculating & Filing
- Payroll—Part III: Ministers and the IRS
- Budgeting for Churches
- Month-End Financial Requirements
- Year-end and Audit Issues
- Unrelated Business Income Taxes (UBIT)
- Form 990 Annual Filings for Exempt Organizations
Title Church Accounting: The How-To Guide for Small & Growing Churches
Author Lisa London, CPA and Vickey Boatright
ISNI 0000 0004 5059 7909
ISBN 978-1-945561-17-7
Library of Congress Number 2020920379
Published November 2020 by Deep River Press, Inc.
Copyright 2020 Deep River Press, Inc.
Pages 235
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