Blog

Sanford Levings

"Hi, I’m Sanford Levings, President of MinistryCFO and author of this blog. The purpose of our blog is to share with you information and insights that we gather from working with and listening to our clients and partners, located throughout the country." read more

Next Steps After the Initial Transition to MinistryCFO

bird-walkingBefore proceeding, please review the previous post: Transitioning to MinistryCFO, (A Move toward Simplicity). In that post, we touched on the following transition steps:

  • Moving the accounting database

  • Simplifying the chart of accounts

  • Consolidating the designated funds

  • Reconciling neglected balance sheet accounts

So what’s next? Some of our next steps include the following:

1. We can quickly examine whether or not your church can qualify for the
federal health care tax credit. And, if not, we let you know what adjustments
you need to make in order to qualify.

Outcome: estimated $5,000 or more in annual IRS cash refund.  This is free cash.

2. We provide you with a free cost / benefit analysis on migrating your existing
donor database to Church Community Builder (“CCB”).

A. We examine the cost / benefit of transferring Online Giving to CCB.

Outcome: reduce bookkeeping hours on recording donations by 25%.

A. We examine the cost / benefit of installing remote deposit capture technology.

Outcome: reduce bookkeeping hours on recording donations by 35%.

Take-away: People using great systems can produce great results.

3. We can review all governance documents (articles, bylaws, board minutes)
and liability insurance policies.

Outcome: make sure governance policies are sound, up-to-date and complete.

4. We can budget your next year with new chart of accounts.  Outcome: estimated $5,000 or more in annual IRS cash refund. This is free cash.

Outcome: Leaders are now accountable for their department spending.