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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

Save by Simplifying Your Bookkeeping

Less Is, Indeed, More

 As we’ve mentioned throughout some of our previous posts, MinistryCFO is focused on simplifying your record keeping processes.

For example: We often recommend reducing the number of checking accounts in your church to just one or two accounts. Simultaneously, we show you how consolidation of all of your cash accounts will result in efficiency, with no sacrifice to the control of funds.

Fewer monthly bank reconciliations results in reduced bookkeeping time, and thus recurring cost savings into the future.

Similarly, we often recommend reducing the number of your revenue accounts, expense accounts, and designated fund accounts that comprise your composite chart of accounts.

Again, having fewer accounts results in more efficient bookkeeping, which results in reduced bookkeeping time, and thus cost savings for the future.

In the process, your financial reports also become more simplified, and thus understandable to the church leaders: your board of directors, stewardship team and others, including your bank!

 

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MinistryCFO finds ways to save your money.  We often reduce the number of your bank, revenue and expense accounts without sacrificing the important details of your financial records. By doing so, we reduce bookkeeping time and thus our bookkeeping charges.

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