Various Links on this Web Site:
ABOUT bcidot.org | OUR MINISTRY PURPOSE | TABLE OF CONTENTS | SPECIFIC SEARCH MATTERS | HELP DETAILS | FUND ACCTG VIA COMPUTERS | GLOSSARY
Mostly New Ministries
FROM: Jim Bramer,
RE: eFinFax Weekly Internet Accounting System Originated: February 2006
Be sure and click on "eFinFax" and learn about this accounting system that is unique to "Ministry Finance Internet Centric" (Ministry Finance Internet Friendly) folk as transactions are electronically moved from your Online Bank Statements and Credit Card equivalents to your Computer system, etc. Also Click Here and read some details about this website on the overall topic of SPENDING CONTROLS - JESUS SAVIOR PILOT ME. Please also Go Here and learn about more resources for Small Ministries and Go Here and learn about our free WebBOOK entitled: "A Journey to be Christian Ministry Finance 'Internet Friendly'"
Below are the FEATURES of the ATF "After the Fact" QBuxBox Weekly Internet Accounting System
A> This is designed for the use of Small Ministries (be it a beginning Church or any other type of Ministry or Missionary Organization) who handles $500,000 or less per annum, but it is often adapted for the use of BLVRs in their pursuit of Righteous Personal Finance, or RPFin
B> As you please make maximum use of the "Ministry Finance Internet Centric" (Ministry Finance Internet Friendly) resources displayed below. This includes posting directly from the Online Bank and Credit Card Statements to your accounting software. In this way you do NOT have to make entries first and then reconcile back to such data appearing on Bank and Credit Card Statements. The electronic "eFinFax" accounting software gets the information "After the Fact" (ATF). With a weekly processing emphasis the activity that has not yet gotten to the Bank or Credit Card Company is generally irrelevant, etc.
C> Again, with a weekly processing/reporting emphasis
D> Via the use of older versions of the QBPro (QBs) computer software obtained out on eBay, etc.
E> And you use the structure and resources for Spending Controls found when you make use of the QBuxBox system.
Ministry Finance Internet Centric (or Ministry Finance Internet Friendly) (1)
When I use the Ministry Finance Internet Centric (or Ministry Finance Internet Friendly) term I mean Ministries or folk (not just our young people) who usually use their laptop Computer from almost anywhere as they have a fast connection (any Computer for that matter) as they go to the Internet minimally once a day to at least receive and send Email; they also are comfortable doing their personal finances using Internet Accounting resources. This includes at any time (24/7) paying the bulk of their Bills online plus using the Internet to go Online and view their current Bank and Credit Card Statements. Of course, many Ministries now receive Online Donations and some people have their receipts electronically deposited (examples are: Net pay by employers or Retirement Income by providers. etc.) to their Bank Account. Some folk may even go to www.irs.gov/efile and file their federal tax returns via the Internet.
They also are very comfortable using such accounting software as older version of QuickBooks Pro (or even old versions of Quicken, Money, etc.) whereby after making a deposit they know weekly if they have available money to spend. The means to do this is what we call the QBuxBox (or the Quite Virtual Envelope - QVE ) system. Some of these Ministry Finance Internet Centric (or Ministry Finance Internet Friendly) folk even use such resources that we describe at 0904 as they do not buy software and place it on their computer desktop but they pay a small monthly fee and handle such matters directly via Web Based (or Internet) products, etc.
We are convinced that a beginning Small Ministry should place their money, when received, into pre-defined QBuxBoxes, or prioritized Spending Control areas of their Ministry, and then know at least weekly per the balance within the applicable QBuxBox if they have money to spend until next week, etc. Please go again to 0002 where you will find (we reference the QBuxBoxes within 0002-99 as BuxBoxes) more detailed information about this system that includes weekly report samples.
Below are potential actions to be taken by the existing or "to be trained" Ministry Finance Internet Centric (or Ministry Finance Internet Friendly) folk. Pat and/or Pam are the hypothetical founder and wife of a new Ministry or the leaders in a beginning new Church Plant. If Pam is largely responsible for the family's personal finances, she likely with initially do a certain part of the new Ministry's finance tasks. Other hypothetical folk are Fran and Tracy. Fran is a volunteer - maybe the initial Board Treasurer (or Bee Tee) - who ultimately does the tasks that are handled initially by Pat and/or Pam. Then Tracy is the HOMER as they all use the Internet to remotely do these things. Usually the respective tasks originate with Pam and migrate to Fran and/or Tracy as the Ministry matures.
Actions to be taken at the Onset
01. Arrange for authorized people to have access to the Ministry's Online Bank Statement 24/7
02. Arrange for authorized people to have access to the Ministry's Online Credit Card Statements 24/7
03. Arrange for as many automatic repetitive Ministry Online Check Payments via the Bank
Account as possible
04. Arrange for as many automatic repetitive Online Charges to the Ministry's Credit Card as possible
05. Obtain plastic for use of both Debit (eCHECK) and Credit Card Ministry transactions
06. Go to www.ebay.com and obtain QBooksPro2007 as if it were new, etc.
07. Set up the QBuxBox Ministry accounting infrastructure following basically what you find at 0002 .
08. Maintain a list of repetitive Ministry Online Payments/Credit Card charges and which QBuxBox
acct to normally charge
09. Have generic original/duplicate numbered Ministry checks for handwriting purposes, and
10. Conclude what Ministry expenses to pay in order of priority as explained when you Click Here.
11. When applicable, arrange for a weekly payroll - do this manually at first, but ultimately outsource, etc.
Actions to be taken during the Week Pat and/ Fran Tracy or Pam Only or Fran As to the use of QBuxBox software << Post the total deposit within the software and distribute to applicable QBuxBox(es) xxx << Process Online Payments that originate within QBs & distribute to applicable QBuxBoxes xxx Hand write checks << Attach duplicate copy of the check to supporting documents xxx << Identify thereon the applicable QBuxBox(es)involved xxx << File these in check number order awaiting action below. xxx << Process weekly payroll xxx Debit Cards - or authorized Plastic charges that concurrently reduce the Bank balance << Authorized people make purchases via the Debit Card xxx xxx << Staffer in charge obtains transaction slip and indicates which QBuxBox(es) are involved and sees that it is ultimately posted to applicable QBuxBox xxx xxx Credit Cards -- or authorized Plastic charges that are to be paid later xxx xxx << Authorized people make purchases via the Credit Card xxx xxx << Staffer in charge obtain transaction slips and indicate which QBuxBox(es) are involved and sees that it is ultimately posted to the applicable QBuxBox(es) xxx xxx << Pay unpaid monthly Credit Card Statement during the first week of the month, xxx Actions to be taken on a Weekly Basis << Go to (2) Online Bank Statement (see Web-ECCU as example) and make hard copy of the current Bank Statement equivalent for future reference xxx xxx << Go to QBs and check off items that that have cleared the Bank as they appear within the QBs register per information above xxx xxx << Go to QBs and manually enter items that have cleared the Bank but are not shown xxx xxx << Tie such transactions to supporting docs (copy of handwritten pre-numbered checks and Debit Charge documentation) and distribute amounts to applicable QBuxBox(es) xxx xxx << Some posting may need to be made to a Suspense account pending QBuxBox I.D. xxx xxx << For items entered into the QBs system but have not yet cleared the bank, change the date to the following week (place original date within the memo area) so you that the QBs Bank Acct register ending balance agrees with that of the Bank Statement, etc. xxx xxx PLEASE NOTE --- You process only what appears on the weekly Online Bank Statement or there is no need to the go through a "Bank Reconciliation" process and ascertain what deposits or checks that are entered in a QBuxBox but have not yet cleared the bank. Then ultimately reconcile the difference between balances shown by the Bank and that shown by the QBuxBox system, etc. This process is the essence of this "After the Fact" System. << Go to the Online Credit Card Statement and make hard copy for future reference xxx xxx << Tie such transactions to supporting docs (copy of authorized Credit Card charge slips, etc.) Some will be repetitive automatic charges to the Credit Card Statement - xxx xxx << And distribute amounts to applicable QBuxBoxes xxx << Some posting may need to be made to a Suspense account pending QBuxBox I.D. xxx << Ultimately the QBuxBox Credit Card liability account balance and the Online Credit Card statement balance will be in agreement xxx xxx
Or you are weekly mirroring within this QBuxBox (QuickBooks, etc.) system what appears (After the Fact) on both the Online Bank Statement and the Online Credit Card Statement. It is not a matter of you initially entering each transaction within the QBuxBox system in the usual way and then making sure that what you entered each week agrees (the usual Bank Reconciliation process) with these external documents, etc.
--MINISTRY FINANCE "LINGO" ABOVE INCLUDES--:
ATF = "After the Fact" System
BREC = Bank Reconciliation
Fran = local Administration or Clerical Assistant
Homer = remote Mom at Home or Retiree
Ministry Finance Internet Centric (or Internet Friendly) = system
revolves around Internet applications - resources.
QBs = Quickbooks
QBuxBox = A QuickBooks Fund Acctg method
Pat and Pam = Founder and wife
Tracy = Homer
. This publication originated in February 2006 has been . UPTD: July 05, 2011