Ministry Receipts Initiative 0907-03 ZZfwi

                               TO:  All Interested Onliners                                                                 FROM: Jim Bramer, Retired CPA-Auditor
                                                                                                                                                   FILE:  0907-03/fwi

                               RE:  Ministry Receipts                                                                          Originated in November 2000                   


   Today's "Ax to Grind" Topic 

          Ministries often enter into some type of monthly agreement with a Donor whereby a donation is to come into the Ministry at a specific time of the month.  

          Plus Schools, of course, also make arrangements for Parents to make monthly installments of Tuition/Fees.

         My thrust is to righteously arrange it so that such payments come at the initiative of the Ministry or School.  Or this money comes in per the recipient's timing and not per the timing of the one making the payment.  Please Go Here  for some more perspective. 

WHY

         The person making the payment is relieved of taking any action.  As a good steward, the Ministry or School is in charge of such things and can depend on money coming in at the agreed time.  

HOW (1)

         Of course, the Ministry or School notifies the person as they process payments via any one of the following methods:

   DRAFTS:

           At the time of the monthly agreement, the person writes post dated checks .. we call them Drafts.....that are processed by the Ministry or School per the indicated date.  Click here for more specifics in a School setting where this can be tried for a short period of time and if all are satisfied then do so for a longer period of time. etc.  At any time the Drafts can be voided.  If the Ministry or School uses QBooks, we recommend  that the Drafts be entered now into the system as per their future date.  This practice contributes to safety plus reminder and automatic processing at the future date. Click here for more Drafts info.

    EFT:

           The person making the payment arranges for the Ministry or School to do, at the agreed time,  the equivalent of an ATM withdrawal, or writing a check on their bank account via a Electronic Funds Transfer - EFT arrangement.  Not unlike various debit card systems out there that you initiate.

    PAY PAL:

     
      The idea here is to make payments as part of processing Email.  Goto www.paypal.com for some details.  

    CREDIT CARD or DEBIT (eCheck) CARD:

           The person making the payment provides the Ministry or School with Credit Card or Debit Card info so they can process said charge at the agreed time each month.  Click here for info as to how a School might do this.

M O R E

       You might benefit from links below on this Web Site:

Credit Card Receipts                     0050-01
Online Receipts Providers           0078-50
E-Ministry Finance Options         0035-01
Internet Friendly Issues                0205-09
Electronic Ideals at a Church      5016-02
Electronic Ideals at a
        Mission Agency                       8016-02
Electronic Ideals at a School       7016-02
If Jim B was the Treasurer at a:
    Church                                           5089-02
    School                                            7089-02
    Mission Agency                           8089-02
    Camp                                              0089-02
Righteous Personal Finance       4036-01 
Web Accounting Issues   
                Church                              5888-01
                School                               7888-01
                Mission Agency               8888-01

K E E P   L O O K I N G   U P !!

CLICK HERE  for a list of of our "For What it is Worth" Editorials or Online documents.


UPTD: June 08, 2012

HOME  |  ABOUT  US   |    OUR PURPOSE   |   TABLE OF CONTENTS   |  COMPUTER FUND ACCTG  |  HELPS |  GLOSSARY