Financial software comes in many shapes and sizes for various industries. Each industry requires unique financial transactions to be carried out by its software. Financial software packages that are rooted in the for-profit world have one major devastating flaw. They fail miserably when used in churches or governmental accounting. Then, why are these packages sold… ⪼ Continue Reading…
non-profit
Fund Accounting Software for Churches
Accounting software that’s fund based versus non-fund based — at its core are two different animals. It would be like comparing a lion to a mountain cat. These big cats are similar but at their core, they are different in everything from habitat to how they hunt. Lions hunt in a pride where hunting is… ⪼ Continue Reading…
Donation Receipt Requirements For Non Profits
Donation receipt requirements are an important consideration when looking for church software or auditing the current solution to ensure it has all that’s needed. Having the appropriate donation receipt allows your donors to ensure they can take their full tax deduction. While the tax deduction that the donor receipt facilitates isn’t the only reason to… ⪼ Continue Reading…
Church Accounting vs. For Profit Accounting
There are major differences in not-for-profit accounting and for-profit accounting. We break this down in several areas in this post. First, we’ll go over an example of for-profit accounting to get our feet wet. Next we will move onto the not-for-profit, more specifically church accounting. In each section we will review what questions that each… ⪼ Continue Reading…
Church Accounting Software – Is It Important?
Church accounting software is important. We go over why its important, best practices, pitfalls, requirements, history, and for-profit vs not-for-profit.… ⪼ Continue Reading…
Create Recurring Contribution Batches in IconCMO
Did you know that you can create a batch of recurring transactions? After a recent focus meeting, we’ve discovered that many organizations using IconCMO are unaware of this feature. It’s a handy tool that can save you a lot of time. Here’s how it works: Any batch prefixed with ‘EFT’ (meaning Electronic Funds Transfer) signals… ⪼ Continue Reading…