Missionary Money Management - 8401-02 09-05-08

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                 TO:  Those who are Interested                                                                                FROM: Jim Bramer, Retired Auditor-CPA 
                                                                                                                                                          FILE: 8401-02/mis   

                  RE:  Possible Missionary (Deputizer)
                            Online Money Management  (MMM)  System                                            Originated in August 2008                 


         Managing the finances of a Christ-Centered Mission Organization  (or even one�s Personal Finances)  is an important task. And, in the case of Missionaries working in a remote areas without convenient access to a bank or other financial institution it can be even an harder and/or time consuming task. 

        Our overseas missionary grand daughter tells us that the vast majority of her financial support comes from families/individuals per se and not via Churches --  perhaps resulting in smaller individual amounts per donor.   This, of course, means that this
Deputizer  likely has more related administrative duties since there are more financial support entities.

        To help in this regard,  this possible "Mission Money Management (MMM) System"  is a potential computer based resource tool with a remote emphasis to help Missionaries and Mission Organizations manage their finances in an efficient manner --- thereby saving time and enabling Missionaries to focus more of their attention on ministry. While individual Missionaries can use much of this MMM themselves,  MMM has been primarily designed to utilize the services of the applicable remote Internet friendly Helpers  to assist in their administrative effort by remotely doing as much as possible of the finance bookkeeping
.    See the possible "Task Lists" below.

         But before you pursue the details below, please get accustomed to the following "TERMINOLOGY" and what they mean as set forth below.       

          Remember  ---- this is very much "Under Consideration" as of  August 06, 2011          


 
                                                                                      T E R M I N O L O G Y

  •     " Mission Money Management (MMM) System" -- see what follows
  •      Deputizer --- a Missionary unit who goes out and raises money for their ministry.
  •      "MissOrg"  -  Mission Organization  or the tax exempt entity, like "Campus Crusade for Christ"
  •      "Missionary Unit"   -   the person and/or family who serves as a Missionary via the "MissOrg"
  •      Missionary Fund Balance acct  - Details in an account at the "MissOrg"  that pertains to a "Missionary Unit"
  •      MER - M>inistry E>xpense R>eimbursements -- the expenses by a "Missionary Unit" that are not personal  
  •      Money transactions - receipts and/or disbursements by type, etc.
  •      Direct Deposit of Net Pay - money goes from "MissOrg" bank account and goes directly to a "Missionary Unit's"
         personal Bank Acct.
  •      QBs = "QuickBooks Pro" software
  •      Spending Controls system - Click Here for more info
  •      ECCU = E>vangelical C>hristian C>redit U>nion;  or a like kind of Banking Institution
  •      Check Stub  =  manual records (be sure and understand how to use QBs for  bookkeeping purposes, etc.) 
         showing detail of what came in and went out with resultant running balance.
  •      Check Stub's running balance = present amount remaining in that account
  •      Check Stub - Discretionary  = 1st set of records showing how much is available for discretionary purposes
  •      Check Stub - Obligatory Check Stub  =   2nd set of records showing how much is already "Spoken For" etc

========================================================================================================

                                                                                       T A S K    L I S T S

A -- Below are possible annotated "Task Lists"  for respective parties for this overall endeavor.   

B -- A hypothetically "Step by Step"  process goes something like the following:
                   

                                    W H O     &    W H A T

                         WHEN

Semi 

See

A

  Mission Organization

Initially

Daily

Weekly

Monthly

Below

01 - Establish a Missionary Unit Fund Bal Account

              per Missionary  Unit

xx

02-  Post and process donations etc. per Missionary Unit

xx

03 - Process MER transactions

xx

04 - Electronically transfer transaction detail to Missionary Unit

xx

05 - Withhold applicable Missionary Unit's income taxes 

xx

06 - Transfer bal due Missionary Unit as a Direct deposit

xx

07 - File applicable payroll tax returns etc

when due

08 - Process withheld taxes to taxing units

when due

09 - Process Online Receipts from Donors      Any time
             
B

  Deputizer or Missionary Unit - Sequence A and B

Initially   Daily

Weekly

Monthly

01 - Perhaps obtain older versions of QB Pro for some $100

xx

02 - Complete "Missionary Money Mgt" Tutorial or training

xx

03 - Establish Personal Spending Controls

xx

04 - Understand Ministry Exp Reimb (MER) system etc

xx

05 - Via a Bank like ECCU - Arrange for personal Bank Acct 

xx

06 - Via a Bank like ECCU - Arrange for Personal Plastic acct

xx

07 - At Bank arrange for electronic transfer of  tranx data to QB

xx

08 - Obtain checks - original and duplicate

xx

09 - Obtain two check stubs

xx

10 - Arrange for Income tax reporting withholding etc

xx

Semi

See

C  Deputizer or Missionary Unit - Sequence C

Initially

Daily

Weekly

Monthly

Below

01 - Observe electronic tranx info from Mission Org

xx

xx

02 - Post Tranx info from Miss Org to Check Stubs

xx

xx

03 - Be satisfied with data within the two check stubs

xx

04 - Observe running Check Stub bal -  Obligatory

xx

05 - Observe running Check Stub Bal  - Discretionary

xx

06 - Manually move Bank and Plastic data below

xx

xx

07 - Via Bank/ECCU - Electronically receive tranx Bank data

xx

xx

08 - Via Bank/ECCU - Electronically receive tranx Plastic data

xx

xx

09 - Enter Direct deposit info to Bank Acct

xx

Semi

See

D  Deputizer or  Missionary Unit - Sequence D

Initially

Daily

Weekly

Monthly

Below

01 - Obtain donor pledges - the usual way

Always

02 - Obtain donor pledges - via Online Receipts/Payments

Always

03 - Set up expected receipt system info within QB Acct Rec

Always

04 - Update initial QB memorized list

xx

xx

xx

05 - Post monthly expectations via QB memorized 

Monthly

06 - Process Electronic donations info from Miss Org -

xx

xx

07 - Process donations info from Miss Org - manually

xx

xx

08 - Provide combo/receipt//Thank you /Info letter etc

xx

xx

    09 - Obtain details Online of Miss Organization's  Missionary Fund Bal Account       xx

 

xx

 

   

10 - Keep record of  Miss Org's  Missionary Fund Bal Acct

xx

xx

11 - Produce list of donors who have not yet paid etc 

Monthly

12 - Discretely contact donor who has not yet paid etc

Monthly

Semi

E  Deputizer or Missionary Unit - E

Initially

Daily

Weekly

Monthly

See below

01 - Care for MER issues

xx

xx

02 - Direct deposit of pay check equivalent

xx

03 - Reconcile to Miss Org's Missionary Fund Bal account 

xx

04 - Pay family & MER bills - mostly via Plastic

xx

Always

05 - Pay family & MER bills - via Check etc &/or ATM

xx

Always

06 - Pay repetitive family bills - via Online Payments

Monthly

07 - View Bank and Credit Card Tranx received electronically

xx

xx

08 - Be sure of "Must Be Zero" accts compliance

xx

09 - Distribute Bank Acct tranx received electronically 

xx

xx

10 - Weekly Pay off Plastic Bal via Online

xx

11 - Produce Personal Spend Control reports

xx

12 - Buy from Obligatory Fund Balance

xx

13 - Buy from Discretionary Fund Balance

xx

14 - Produce reports for filing income tax returns

Annually

15 - Produce QB type of tranx reports 

As needed

   
     C --  Potentially helpful link information is available when you Click Here and  Here

     D -- See the Sample reports below that could go along with the applicable computerized  
Spending Controls  system that we call the eFinFax accounting system.

Click Here    for information and examples regarding the "BuxBox" Check Stub system
                        designed for people like "Missionary Units",  etc.
Click Here    re the  BuxBox    Video  -  or the year to date "Christian Ministry" activity report, etc.
Click Here    re the  BuxBox  balance only "Christian Ministry" status report 
Click Here    re the  provided  Photo  report - overall "Christian Ministry" status report

   E --  Please note the available  WebBOOKs  (free alternatives to an eBook)  when you Go Here.


 More about the above " FREQUENTLY USED VOCATIONAL TERMS"

  •      AR = Accounts Receivable system

  •      Bux = "BuxBox" term/system -  rather than "Envelopes"

  •      Deputizer = "Missionary Unit" who must raise their funds for Ministry

  •      ECCU = Evangelical Christian Credit Union

  •      Electronic transfer = movement of financial transactions via the Internet from the ECCU/Bank to QBs

  •      Initially = when activity starts

  •      HELPER = Helper, or volunteer who remotely assists the MISSN

  •      MER = Ministry Expense Reimbursements

  •      MFTeam = MFT, or Ministry Finance Team

  •      Missionary Organization = MissOrg; a qualified 501 (c)(3) tax exempt NPO

  •      Missionary Unit = individual Missionary or Missionary family unit

  •      Missionary Unit Fund Bal Acct = ideally a QB Equity acct at MissOrg

  •      MISSN = Missionary Unit

  •      MMM = Missionary Money Management system

  •      NPO = Non Profit Organization

  •      Online = action via use of the Internet

  •      PDF = type of document that includes pictures as well as words

  •      Plastic = Credit or Debit card issues/transactions

  •      QBs = QuickBooks Pro software

  •      Tranx = financial transaction
     


 FINIS:

   
     Be sure and contact me at  Jim@bcidot.org  if you have any comments or questions about any of these matters.  Remember -- It is my desire to encourage you in your Christian walk and to be "Your Servant for Jesus Sake:" Thank you.   II Corinthians 4:5B  This was updated last: August 06, 2011   

Phone: (559) 298-5507  --  Email Address:  Jim@bcidot.org 
 Mailing Address:  2628 East Goshen Ave. - Fresno, CA 93720

ABOUT  US   |  OUR PURPOSE   |  TABLE OF CONTENTS   |  SEARCH  MATTERS  |  HELP DETAILS   |  FUND ACCTG VIA COMPUTERS   |  GLOSSARY