Set Up Procedures

Creating a reliable fund accounting system requires collecting and overseeing financial information for your church or nonprofit. Delve into establishing an efficient fund accounting system, selecting suitable accounting software, setting up initial balances in the software, and choosing the most suitable accounting method for your organization in this first book in the Policies and Procedures series.

Even if you are an established church or nonprofit, the tips in this ebook will give you confidence that all is set up as it should be.

Setting Up Internal Controls

Internal controls are mechanisms employed by organizations to protect assets from misuse, fraud, and ineffective utilization. They are essential to implement and establish for churches or nonprofits. Identify the necessary controls to include in your policy and procedure manual and implement.

This ebook is packed full of helpful tips!

Included in this "package" is a zip file with 7 customizable documents that you can edit to fit your organization and include in your policy and procedures manual.

Audits, Budgets, and More

Explore the components of an audit, the necessary documentation, and alternative options available. Additionally, understand the requirements for an internal audit. Dive into the essential controls for managing a petty cash account and receive guidance on establishing a budget for your organization.

Receipts and Reimbursements

Accountable reimbursement plans are crucial for churches and nonprofits of any size to legally reimburse staff and volunteers for business expenses. Properly set up plans allow tax-free reimbursements, but without them, reimbursements could be taxed as income during audits, leading to penalties and issues.

It is also beneficial to regularly review and update your reimbursement policies to adapt to any changes in tax laws and ensure continuous compliance. Providing training and resources to staff and volunteers can also aid in the smooth implementation and management of these plans.

This ebook can help with setting up, reviewing, and updating accountable reimbursement policies...PLUS teach you your receipts and supporting documents should include!

Benevolence Policies

Discover how to establish an IRS compliant benevolence policy and the steps to implement it. See who can receive benevolence form your organization and who absolutely cannot! Also included is a sample benevolence request form that will outline what information your organization should require to ensure the recipient of the benevolence is not taxed for it.