Church Balance Sheet

When we are engaged to work with a church, it is often to help prepare the financials to present to a bank for a loan request. One area that usually needs attention is the fixed asset section. While the guidelines could fill a book, let’s review in summary what is

Delano Sherley – Accounting & Tax

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24-11 Reimbursing Expenses (part 2): Churches are required to follow the IRS “accountable reimbursement plan” rules when reimbursing business expenses. Proper documentation is a key requirement: the employee must document the business purpose of the expense. One area where we find that many churches don’t comply is in reimbursing automobile expenses. Some churches