Churches and ministries hold themselves to a high standard of stewardship and accountability, especially when it concerns “the Lord’s money.”
In smaller churches, financial management might be the responsibility of the senior pastor or a volunteer congregant who may or may not have an accounting background. In response to this issue we have developed Basic Cents for the smaller church or church plant. Even larger churches with full-time accountants can find the amount of accounting work to be overwhelming.
Working with churches that vary widely in size and budget, PSK offers help to get financial tasks accomplished and accounting systems in order. Because we know how churches and ministry organizations work, we ask questions that are very specific to church administration.
Our professionals start out by evaluating your needs and existing resources to help you create the best plan of action for serving your organization. As we work with you, we focus directly on your areas of concern and provide solutions to make your work easier. We know you are concerned with Much More Than Numbers. Because tax issues, processes, and fraud are always on your mind, we offer several Best Practices Engagements to ease your concerns.
Accounting systems that are simple but robust are the favorite of churches. Many of our clients find QuickBooks® Online software helpful, and we have Certified QuickBooks® ProAdvisors® available to configure your system and teach you how to get the most from it. Our other church accounting services include:
- Audit and assurance
- Accounting and payroll
- Bank account reconciliation
- Monthly financial statement preparation
- Policy and procedure study
- Software consultation & training
Aside from accounting, cash flow, and reporting issues, financial fraud is another challenge churches face. A religious community tends to be a very trusting environment, and the wrong person with the right opportunity can easily exploit it. Regardless of the likelihood of dealing with an unfortunate situation like this, we think it’s wise for businesses of all kinds to close off windows of opportunity and eliminate the temptation for anyone to consider dishonest practices in the first place.
For churches wanting to prevent fraud or procedural accounting glitches, PSK performs a special audit or agreed-upon procedure, a service that entails a review of your organization’s accounts and assets. A common agreed upon procedure is the drafting of a management letter—a punch list of business policies or practices that make your finances vulnerable, and suggestions on how to tighten up the system.
Audits are also sometimes provided to meet lender stipulations or for internal requirements within the church. PSK performs agreed upon procedures for dozens of Catholic Churches in the Dallas and Fort Worth area, compiling specific financial reports mandated by the dioceses.
No matter which services we provide to your church, we’re confident you’ll be pleased with the level of church expertise and client service we provide. Let us help take your mind off of business matters so you can focus on the more important mission at hand. Call us today.