6 Must Know Tips For Managing Your Churches Finances

6 Must Know Tips For Managing Your Churches Finances | SBS Accounting & Advisors

Рет қаралды 11,090

3 жыл бұрын

In this video, we will discuss six must-know tips for managing your church’s finances.
We must first understand that this is about more than just money, it’s about being a good steward of the resources that God has given you. In order to do that, you must first view it as God’s money and then adopt his mindset for handling money.
Tip number one: Save money.
It’s important that you have a safety net built into your churches finances. This can only happen if you purposely set aside money for the future. As we have seen recently, anything can happen. At any point, the government can step in and tell you to close your doors; A natural disaster can happen and you can show up with unexpected damage to your property; God forbid, your church could split and you lose half of your tithing members; Or the inverse could happen and you explode in growth so rapidly that you find yourself needing to expand immediately.
The easiest way to save money is to build it into your budget.
Tip number two: Learn the fundamentals of budgeting
A budget is a wonderful tool that can be used to make sure that you aren’t overspending in some areas and underspending in others. It will also help you to plan for the future. Just as in your own personal life, it’s a good idea to create a budget for the church.
As simple as budgeting is, it is not possible if you do not keep track of your donations and expenses.
Tip number three: Keep track of donations/expenses
If you are not currently doing this, I can not urge you enough, please start doing this now! When it comes to taxes, you must have record of what you are bringing in and what you are spending.
We suggest using a software like Quickbooks Online coupled with a good church management app like Breeze to help you with this. But there are a lot of resources out there, you may find that you already have access to a software like this as part of a church management software that you currently use.
No matter how you look at this, managing the church’s finances is a weighty responsibility, and we want to encourage you to be transparent with those on your leadership team.
Tip number four: Offer transparency with your leadership team
The Bible teaches us in Proverbs 11 that “Where no council is, the people fall: but in the multitude of counselors there is safety.”
Transparency with your leadership offers you several benefits. First, you now have accountability. Second, you now have access to more wisdom and knowledge. And third, you’re no longer the only person responsible, this means that if questions arise about any decisions that were made, there are now others who can answer those questions too.
No matter how many people are involved in helping make financial decisions, one of the best rules you could ever follow is to make sure to have thoroughly vetted every decision. Never make a decision based upon an assumption.
Tip number five: Don’t make financial decisions based on assumptions
It can be tempting when dealing with the weighty decisions of finance to move forward on a hunch or because of an assumption of what the future might hold. But like we discussed at the beginning of this video, this is God’s money, and we need to handle it with care and in the way that he would handle it.
Doing this, along with the other tips I have shared here today will result in you and your church’s finances being handled with integrity.
Tip number six: Operate with integrity
Operating with integrity is not only pleasing to the Lord, but it will be pleasing to those you are serving at your church. We must remember that the church’s finances belong to the Lord but they were supplied but the members of the church. They have given it to the Lord and are asking you to steward it wisely. When you operate with integrity, you are pleasing the Lord and giving confidence to those who gave in the first place.
Even when you have adopted the mindset of God for handling his finances, it’s important to remember that you’re still operating within man’s system here on earth. And in America, there’s a lot of laws that you can get tangled up with. That’s where we come in.
We here at SBS Accounting and Advisors would love to speak with you and discuss how we can help you and your church serve God and use his finances legally. We want to come along side of you and aid you as you walk through the legality of the financial system with the goal of serving God and spreading the work of his ministry.
Thank you for watching and be sure to check out our KZbin channel and website for other helpful resources for you and your ministry.
If you need help with implementing these in your ministry, we’d love to help.
Click to learn more about our Free Church Financial Stewardship Assessment: sbsaccountants.com/churchfina...
Visit our website for more great insights on improving your organization through better financial management: sbsaccountants.com/