Events like Hurricane Harvey and the flooding in Texas remind us of how fragile and unpredictable life can be. We see, or even personally know, people and families who are suffering intensely as their lives are turned upside down. Receiving donations for flood relief and recording them properly is necessary to ensure donors have the ⪼ Continue Reading…
There is no money in Revenue and Expense accounts.
That’s right: revenue and expense accounts carry no balance of money. When bookkeepers don’t realize this principle of double entry accounting, it can lead to a lot of problems and frustration.
A good church accounting software uses double entry accounting and complies with FASB standards. IconCMO’s fund accounting software does both.
Double entry accounting is ⪼ Continue Reading…
Email Address Format Validation – A New Feature
We recently made a change that affects how you send emails from IconCMO. Before your email gets sent, the system will verify that the email addresses are in a valid format. This feature is commonly called email address format validation. Below is what the error looks like at the bottom of the group screen.
Press Release: Special update for Canadian churches
MOORHEAD, MN–(Marketwired – April 25, 2017) – Icon Systems announced its IconCMO church management software is now compliant with Canadian Revenue Agency (CRA) requirements for charitable donation receipts. The update, which was released last week, features a special donation statement format that includes:
Name and address of the charity Unique serial/receipt number Registration number Electronic ⪼ Continue Reading…
But I haven’t Spent my Budget (p3)
If you haven’t read the first part or second part of this series please take a moment to read them.
Assumption #4 – we can use last years numbers and just increase/decrease them a little, commonly called an incremental budget. The interesting thing is that many churches do this type of budget. While itmay be ⪼ Continue Reading…
But I haven’t Spent my Budget (p2)
Here’s the second part of a three-part series. If you haven’t read the first part of this series please read it here.
Budgets work on assumptions, whereas financial statements work on actuals – what really happened to the money. Let’s look at some assumptions below that arise when ministries say they still have money in ⪼ Continue Reading…