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

Aubrey Jayroe – Finance

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24-11  Part 1 As we get toward the end of the year, we look at retired files, old records, old tithing envelopes, and other documents the church must keep and try to determine what to discard and what to retain. Can you provide help as to maintaining records and destroying them

Delano Sherley – Accounting & Tax

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24-10 Reimbursing Expenses Part 1: It is common for a company or church to reimburse employees for business expenses they have personally paid. However, there are specific rules which must be followed when reimbursing these business expenses. In order for the reimbursement to fall under an approved Accountable Reimbursement Plan: They must be