This introduction to bookkeeping for congregations starts from the very beginning, with stories about how these straightforward practices can de-mystify finances and develop transparency. It defines the concept of triple-entry bookkeeping as a tool for managing restricted funds.
The second section expands the concepts of income, expenses, assets, and liabilities, along with cash and accrual accounting. Examples include recording deposits, paying bills, entering payroll, and managing loans.
The final section integrates the above bookkeeping concepts with financial reporting formats that are concise and complete.
For those familiar with bookkeeping, this is a one-hour version of the above topics. It is designed for those who have been trained in classic debits and credits bookkeeping, but may be new to non-profit bookkeeping and to the challenges of managing the many restricted funds that congregations often receive. It is a prerequisite for the QB for Congregations series, since it incorporates our “triple-entry bookkeeping” concept, which is the basis upon which our bookkeeping and reporting system is based.