Month end/year end closing help needed

Month end/Year end CLOSING: I am new to doing the books for my church. I've had years of experience in various areas of accounting/auditing but have never actually done the full range of accounting/bookkeeping required for this position. I'm catching on to the Funds Accounting part, but feel very uncertain about the month-end and year-end closing cycle. If anyone has a checklist type thing they'd share with me that shows the steps to take from beginning the close out process to the finished financial statements and reopening procedures for the next month and year, I would be very grateful!! God bless you in advance for your help and willingness to help a fellow Christian striving to do the work for our Lord!

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Aug 01, 2014
Month end/year end closing help. . .
by: Lewis in NC

What software is being used to keep the books for your church? There should be listed procedures for month/year-end closing given with the instructions or help for that software. Basically one must balance the check book(s) each month. Also, after monthly reports are completed, one closes all income type accounts and expense type accounts each month while retaining the monthly summary totals to use for the year-end reports and yearly closing.

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If you want to DIY your payroll, I highly recommend you look at using Gusto! It is very user friendly and their support is awesome! Plus they know how to set up and maintain payrolls for churches and nonprofit organizations.

Note: I am a "partner" of Gusto, but as I have told you before ... I never recommend anything that we or our clients have not tried and love =)

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