Accounting can be an incredibly challenging process to carry out correctly and with finances playing such a major role in both for-profit and non-profit organisations, even the slightest of mistakes could lead to some very costly errors. Specialist church accounting support is available from Good to Give who can assist in streamlining your finances to provide peace of mind in knowing that active procedures and protocols are correctly implemented. Through these services we always look to remedy and optimise on pre-existing processes clearing up any mistakes along the way; below are some of the most common mistakes we encounter as well as some tips on how they can be avoided.

• Not keeping track of donations: It is essential for churches to keep accurate records of their donations. Make sure to record all donations from members, including cash and check payments, as well as any online payments or gift aid.
• Not using an appropriate accounting software: Regardless of the size of your church, it’s key that specialized church accounting solutions that offer advanced reporting capabilities and detailed financial analysis are in use year-round. These solutions can also help with church gift aid, making it easier to track and reclaim tax.
• Not reconciling accounts regularly: Churches should reconcile their accounts periodically to ensure that all donations are accounted for properly. It’s important to check for any discrepancies between the amount of money received and what is actually recorded in the books.
• Not filing taxes correctly: Churches need to know when and how to file their taxes. Depending on the size of the church, they may be exempt from certain taxes or required to pay different rates. Failing to file taxes on time can lead to costly fines and penalties.
• Being behind on bills and other expenditures: Postponing payment of bills frequently only leads to late fees, by getting these resolved as soon as possible you not only avoid this but also make it easier to budget going into the future. If you are unable to make a payment right away, make the organisation or individual aware as soon as possible.
• Never talking about money: Finances aren’t a taboo subject and shouldn’t be treated as such. Leaders within your church should be fully aware of your financial wellbeing and discussions should be held regularly with a view to improve on performance and optimise function to get the most of every donation.

Church accounting isn’t easy and there’s no shame in asking for help. Our friendly team at Good to Give has a great deal of experience in providing support in this field and are more than happy to discuss your church’s unique requirements and curate a solution that helps you make the most of your finances.

Contact Good to Give for Church Accounting Services

Through Good to Give, many charitable organisations have gained the tools required to streamline their finances and make the most of donations. To find out more about our charity accounting services and gift aid management software, get in touch with a member of our team at 020 7731 2041.