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FROM: Jim Bramer, Retired CPA-Auditor
RE: Sample Church Financial Statements Originated: December 2002
Within our signature QuickBooks (QB) 0601 document, we display some very simple Church Financial Statements that are duplicated below..
Please note that via the use of QB Equity Accounts you handle the SPFunds below as per the current balances (whole numbers) of $20,474. Or the SPFund transactions (whether Income or Expenditures ) are posted directly the these QB Equity accounts which enables the Church to keep SPFund running account balances.
The primary benefit is that you know exactly how much of the Common Bank Account balance ($16,787 below) belongs to these SPFunds, etc ($20,474).
Or more significantly, it is very clear that the GPFund has borrowed from these SPFunds to the tune of $5,376. In most Churches the GPFund is so volatile that it needs to be closely monitored by your Ministry Finance Team.
QB Chart of
Fund Balance - Net Assets:
QB Equity Accounts
Total Donor Restrictions
Total Board Discretionary
QB GPFund YTD (Loss)
Total Liabl and Fund Bal
Also within our 0601 document, we display a very condensed Church GPFund Statement. For the Year to Date (YTD) period July 1 through May 31. Please note that the following Income and Expense accounts are all QB Chart of Account types. Obviously, the $5,376 (rounded whole number of the $5.375.85 below) is the same amount that appears in the above report.
Jul 1, xxx9 through May 31, xxx0
Salaries and Benefits
Supplies and Expenses
Cross Funds Expense (1)
QB GPFund YTD (loss)
Now to carry this a step further, the report below within 0601 comes from using the QB Class tracking option when you go to EDIT: PREFERENCES; ACCOUNTING; COMPANY PREFERENCES. This QB system preference allows you to assign a Class Account to every SPFund transaction. Or this feature makes known the reasons (or scope) of what happened within each SPFund and/or all of the SPFunds as displayed below. Please note that the Grand Total of $20,474.05 agrees with the amount showing up ($20,474 whole numbers) in the first report above.
Jul 1, xxx0 - May 31, xxx1
First of Year Balances
Total SPFund Income
Total SPFunds Expenditures (1)
Cross Fund Income
Grand Total SPFunds
Then I would encourage the Church, using a spreadsheet (Excel, etc), to blend all of these numbers above into what I call a BIG PIX report like that below. This enables interested Church people to get a one page overview of where you are and what has happened since the first of your fiscal year (both GPFund and all of the SPFunds) , plus provide some Actual to Budget information.
BIG PIX Report
For YTD July 1, xxxx1 to May 31, xxx2
Budget To Date
Annual GPF Budget
GPF Income to date
End Balance as computed
Divided by wks to date
"Spoken for" as follows:
Down proof is:
Cross proof is:
Let me know at Jim@bcidot.org if you have any comments or questions or if you would like a Big Pix example that includes the current Building Construction financial facts.
This publication originated in December 2002 and was UPTD: April 24, 2010
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