Payroll Practices
We currently have a general fund account, savings account, and a payroll account. For payroll, we transfer funds from the general account to the payroll account when we run payroll.
This was setup by a prior bookkeeper. Is this a fairly standard practice or do most churches run payroll from their general operating account? We use a third party payroll processor.
1Comments
Best Practices for Payroll Account
AAnonymous - MN
We use Intuit as the third party Payroll and our General Fund checking account to draw payroll. I really do not see any need of having a separate checking account for payroll to be drawn and expose yourself to not getting funds XFERed from General to Payroll in time to cover payroll.