Bookkeeping for Non-Profits: Churches
It is not always easy to do work for charities, not for profit or churches; however, a diligent approach is required to manage all financial
With churches, churches elect members to serve on a Church Finance Committee.
This team of people is responsible for managing and accountable stewardship of the church’s financial resources. It can significantly
influence the financial growth of church assets.
Mismanaged financially, this group can negatively affect the long-term financial viability, so procedures must be in place to prevent this
What you need to know...
Funding for Emergencies
This allotment is to expect the unexpected. To offset these funds, allocate a percentage of your budget dollars to emergency funding as an
emergency fund bucket.
As part of your role in the church financial committee, create a definition for an emergency and set aside these funds unless a genuine
financial emergency arises.
As this fund allocation will grow year after year, financial resources will be available when those unanticipated emergencies arise,
safeguarding an unexpected budget variance.
Reporting to the Australian Charities and Not-for-Profits Commission
Charities have reporting obligations to the
including ongoing reporting and record-keeping to comply with ACNC Governance Standards and applicable External Conduct Standards.
This reporting must be carried out annually by submitting an Annual Information Statement and Annual Financial Report (subject to charity
Your charity size is based on the total annual revenue for the period you are reporting on.
Small charities have annual revenue under $250,000
Medium charities have yearly revenue of $250,000 or more but under $1 million
Large charities have annual revenue of
$1 million or more.
Do you need bookkeeping support?
Our mission is to work with Churches, Not for Profits, and Small to Medium Businesses to streamline their financial management by tailoring
Bookkeeping, Accounts and Management systems to meet their needs and empower them around their finances so they are free to focus on what
really matters - Growing their enterprise.