TO:   All Interested Onliners                                                                           FROM: Jim Bramer. Retired Auditor-CPA
                                                                                                                                                            FILE:  0945-09/fwi

                            RE:    Use of "Internet Friendly"  Computer resources
                                       for Ministry Finance & Accounting purposes                                   DATE:  September 2009

    Today's  "FOR WHAT IT IS WORTH"  Editorial
 

        Like many of you I am convinced that we should be using all of the available tools to acquaint people with the Lord Jesus Christ  so they can be saved and to assist them in living for Him  and be mature in the Word.   This includes making the most of “Internet Friendly” resources as we make full use of the Internet and related Computer resources. 

        But I am thoroughly convinced that such resources should also be utilized as tools to do administrative functions needed by “Christ Centered” groups/people.  This includes the management,  accountability and stewardship of tangible assets --- especially money matters and related fiscal affairs.  We need to make the most of such  Tools  for dollar transaction processing and reporting so that such entities timely have meaningful and complete “Spending Limit” data for decision making and management purposes, etc.

        As a retired “Auditor-Certified Public Accountant (CPA)” I am obviously biased as to these matters, but I count it an honor to especially assist you  “Ministry Finance Internet Friendly” “Smaller Ministries” make full use of such resources  so you can be the very best steward of your finances.  Many of you are comfortable using such accounting software as older versions of QuickBooks (QBs) so that after you record all of your transactions you can weekly answer this question:  "Do I have a balance of money to spend in my area of responsibility?"  

         This question is answered when you use something like the eFINFAX  accounting system as explained in more detail within the "Link"   contents below.  Examples of financial reports  (or Charts )   coming from this resource appear below.

BuxBox  (Same as  Envelope)  Balances as of May 31, 2xxx

500 Special Purpose Funds - SPFs BuxBoxes          501 Missionary Jones - Support 28.53       502 Missionary Smith - Support 405.57       590 GPF (Deficits) from previous years (5,706.41)       599 Board Emergency Fund 14,574.00    Total 500 SPFs BuxBoxes 9,301.69        600 Assigned for General Purpose Fund -GPF                601 Fixed Expenses #01 272.70       602 Fixed Expenses #02 28.65       603 Fixed Expenses #03 59.06       681 Discretionary Operating Depart #81 37.30       682 Discretionary Operating Depart #82 44.88    Total 600  -GPF BuxBoxes for this year 442.59     Total Year To Date BuxBox Balances $9,744.28

Photo (Balance Sheet) Report As of May 31, 2xxx

ASSETS (Also see the BREC Sweep system)         Bank Accounts            101 Checking Account 100.00          102 Savings - short term 8,508.61          199 Savings - longer term 7,959.71       Total Bank Accounts $16,568.32    Fixed Assets  - Memo only         140 Equipment 15,633.00       141 Accumulated Depreciation -3,499.00       149 Offset of Equity in Equipment -12,134.00    Total Fixed Assets  - Memo only $0.00 TOTAL  $16,568.32 LIABILITIES AND EQUITY      Liabilities               222 Credit Card  724.04             280 Unpaid Obligations 6,100.00    Total Liabilities $6,824.04    Equity         Year To Date  BuxBox Bal per above details 9,744.28    Total Equity $9,744.28 TOTAL  $16,568.32

       This especially applies to what I define as “Small Christ-Centered Entities” -- or those who handle $500,000 or less per year.   This includes such entities as:   Churches, Mission agencies or like endeavors, Christian Camps, Christian Schools and even Christian Family Units.  Some of which are just beginning and they need to lay good finance management foundations.

        If this overall topic rings a bell with you, please read and digest the following “APPLICATIONS"  worksheet and indicate via the applicable column how they apply to you.  Please also read the  "Link"  contents appearing  below. 

	APPLICATIONS	Now In use	Need to place in use	Perhaps	Not an option
	RECEIPTS
1	Via your own Web Site
	Donation and Event Receipt options
	Using Credit Cards (Plastic) - see sample Vow	______	_______	_____	______
	Using Debit Cards (Plastic)	______	_______	_____	______
2	Online Donations - via your own DonaMail
	batch proof process (a)	______	_______	_____	______
	Electronically from their Bank to your Bank
	-- One time	______	_______	_____	______
	-- Repetitive	______	_______	_____	______
	Online Internet Receipt Providers	______	_______	_____	______
3	Events - both Sign up and make Payment	______	_______	_____	______
4	Scrip Ordering and Payment  (a)	______	_______	_____	______
5	Please Go Here and learn about your Ministry making a deposit without having to go to your Bank.	______	_______	_____	______
	EXPENDITURES
11	Online Payments
	Via QuickBooks (QBs) resources	______	_______	_____	______
	Via non QB resources	______	_______	_____	______
	By going to Vendor's web site	______	_______	_____	______
	Repetitive -- same vendor amount	______	_______	_____	______
	Repetitive -- different amount up to certain limit	______	_______	_____	______
	You weekly pay off Credit Card (Plastic) Balance	______	_______	_____	______
	Electronically from your Bank to their Bank
12	Payroll - direct deposit of Staffer's net pay	______	_______	_____	______
	Electronically from your Bank to their Bank
	Use of QB's Payroll system  (a)	______	_______	_____	______
	Use of Remote Payroll system (a)	______	_______	_____	______
	RELATED  MATTERS
20	Remote HOMER matters	______	_______	_____	______
21	Do buying Online	______	_______	_____	______
22	Online move Money from one Bank Acct to another	______	_______	_____	______
23	Bank Reconciliation and Sweep matters	______	_______	_____	______
24	Remote viewing only  (a)
	Staff access information	______	_______	_____	______
	Board members access information	______	_______	_____	______
	Auditors access information	______	_______	_____	______
31	"ATF" - mostly electronic movement of tranx to you	______	_______	_____	______
32	"Control Spending" - BuxBox features	______	_______	_____	______
33	"eFINFAX" system	______	_______	_____	______

        (a)   Contact Jim@bcidot.org for details

       Then let us know if you think we can help by contacting me at Jim@bcidot.org  ( An Outsider looking in) or by contacting Brad at Brad@rpfin.org  (An Insider looking out).  Of course, we would be happy to provide you with references. 

        Please see the following for more information about the recommended  "eFINFAX"  system.

     >>   You go Online each week and access your Bank and Credit Card transactions and know your account balances.
     >>   Then you manually or electronically move individual transactions therefrom to -  
     >>   Your computerized Ministry accounting system (like QBs) which is set up so that-
     >>   You have weekly reports - See the report samples above --- please  (Go Here) and access more samples; your system would allow you to either print out or simply view Online.
     >>   These weekly reports are structured so that you are enabled to stay within your pre-approved spending limits and answer if you have money to spend.  This is essential !
     >>   Using Internet resources, you receive money that comes directly from their bank to your bank account -
     >>   And you pay bills via the Internet – or money electronically goes from your bank directly to their bank account.
     >>   The staff’s net pay goes electronically from your bank to their bank account.
     >>   You have a separate computerized “People” database which includes donation information that provides deposit information for this overall system.
     >>   Trained remote helpers are available via the Internet as you arrange for them to help you either each week or as often as they are needed, etc.

       There has also been some consideration about  an Online "Forum" for interested folk so that you can learn from one another as they help each other in such an effort as this.  For a "Forum" example,  please  Click Here.  Let me know if you think something like this would be of value.   

        Keep looking up !!

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Please click on the "Blue Links" below and digest their contents

Accrual Basis of Accounting and initial eFINFAX Issues
After the Fact (ATF) features
Bookkeeper - Treasurer's Goals
BuxBox Method - Unique Spending Control features 
Compilation -  one of the Auditor - CPA's annual reports
eFINFAX - Dialog with a Church's Bookkeeper about this accounting system
eFINFAX - Accounting System information
eFINFAX - numerous links on this overall topic
Evangelical Council for Financial Accountability - ECFA
Functional Expense
Fund Accounting at Ministries
HOMER Helpers  -  folk who remotely serve Christ-Centered Entities
How we help example
Ministry Finance Internet Friendly -- information on this overall topic  
Generally Accepted Accounting Principles - GAAP
Ministry Finance Team  (Board sub-committee) assistance -- web site for  
Mom-Pop Ministries -- those who handle $100,000  or less per annum
People Database and accounting for Donations
Plastic or Credit Cards - appropriate use thereof
References Information
QuickBooks (QBs) Accounting Software - used by Ministries  
Smaller - newer -  Ministries  - web site for
Spending control assistance  --- web site for
Where" and "Why" you have money Issues
 

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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: February 18, 2010

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