Financial reporting is the most important function of the accounting system. With our services you will receive detailed financial reports that meet AICPA and IRS accounting standards and requirements.
We provide summary reports for high level church meetings, as well as detailed reports that help you zero-in on specific aspects of your operation. The list below provides a sample of some of the required AICPA reports that your church must have.
The Statement of Activities
This report provides a line-by-line listing of all of the income and expenses of the church. It tells you whether the church is operating at a net profit or a net loss. The report can be formatted to show the church's performance against the prior year, or it can provide a month-by-month analysis.
The Statement of Financial Position
Do you know the amount of money in each of your bank accounts at the end of each month? What about the value of your church building and other church assets? The Statement of Financial Position is one of the most important reports in the accounting system. It not only provides the value of all of your church assets, but it also tells you the amount owed on your payables, mortgages and other liabilities at the end of each month.
Budget Comparison By Department
This report shows how well your church is performing against your current budget. It can be prepared showing all departments and ministries, or it can be formatted so for each ministry or department.
Itemized Expenses By Department
This report provides the details of the expenses for each department or ministry within the church. It provides the details of each check for a particular line item, including the check number, the vendor name, the date, and the amount. This quick reference helps provides specific information as to how money is being spent.
Report of Sunday Receipts
This report provides a detailed view of your Sunday-by-Sunday income totalsy. The data is broken down by your various revenue categories including tithes, offerings, building fund, and so on. This is an excellent report for analyzing Sunday-by-Sunday trends and growth. It can also be formatted to provide each ministry with a detailed accounting of the funds they have turned in for various events.
Accounts Payable and Unpaid Bills
This report assists in cash flow management by providing a detailed listing of each unpaid bill and the dollar amounts due in 30, 60 and 90 days.
Other Specialized Reports If you have specific reporting needs that are important to the operation of your church, we can design the reports for you.
How To Develop The Church Budget Learn the budget process