TO: All Interested
Bramer, Retired CPA-Auditor
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.
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.
Of course, the Ministry or School notifies the person as they process payments via any one of the following methods:
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.
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.
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:
Mission Agency 8089-02
Righteous Personal Finance 4036-01
Web Accounting Issues
Mission Agency 8888-01
K E E P L O O K I N G U P !!
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UPTD: June 08, 2012
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