General Accounting System Policy (Sample)
The General Accounting System Policy (Sample) below is available to download, customize and print for your church administrative office...
This sample policy for Church General Accounting Systems is an awesome tool to use if your church does not have a policy yet.
Accounting is a word that sometimes scares people or volunteers who have never worked with it but is easy to understand with the correct education procedures in place.
A Church General Accounting System is a standard integrated accounting
and general ledger system. It's composed of a set modules (General
Ledger, Accounts Payable, Accounts Receivable, Fixed Assets, Payroll,
Personnel and Stock Control) that correspond to the main church business
functions of accounting management.
This policy below for the Church General Accounting System Policy includes:
accounting principles will be followed. Payroll transactions, receipts and
disbursements should be recorded in a journal. (Many commercially available software package, QuickBooks is but one,
provide that capability).
A journal is
the record in which all day-to-day transactions are originally recorded. The
journal is organized chronologically and shows all the information about each
transaction in one place. In recording each transaction, the date will be
listed and the amounts of the debits and credits given. Each transaction of
debit and credit must be balanced.
intervals, the debits and credits are transferred from the journals and posted
to a General Ledger by locating the specific account with the ledger and
copying the amount of the debit or credit in the appropriate space. A ledger is
composed of groups of accounts which have some common characteristic. Normally, a ledger is composed of asset,
liability, reserve, expense, and revenue accounts. The purpose of the ledger is
to classify and summarize date according to function which the purpose of the
journal is to provide a detailed chronological history of financial
handles both money that has “strings attached” and it’s to be spent only as
designated by either Providers or by the Board or Directors, and money that is
general in nature, meaning that it’s to be spent at the Board’s discretion. For
accounting purposes, the latter amounts make up the General Fund and the former
comprise Designated Funds.
is singular, there’s only one fund. The church’s General Fund is under line
item budget control.
Funds may be plural; there’re as many of these funds as there are specific
allowances placed on the money’s use. Spending from Designated Funds is, of
course, limited by the various designations and is controlled completely on the
basis of each fund’s available balance.
Click on the link to download the policy and procedure below:
Church General Accounting System Policy and Procedure (Sample)
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