Settling for the best accounting software is quite a difficult choice. Successful business owners always look for the best and low-priced option, and QuickBooks is the best option in this regard. Thanks to QuickBooks, preparing the chart of accounts for a church is really convenient and hassle-free, since it has an available template for religious organizations and churches.
Note: When you are setting up a new company, you will be given the opportunity to create a Chart of Accounts before-hand. This is the standard rule. If you don’t select from the given options, importing a CSV file is always feasible.
In QuickBooks online, the template available is organized and set up as per the industry type. Also, you can analyze and review the specific template list for your organization and download the specific file from the QuickBooks import templates file.
Why is it important to set up a Church in QuickBooks?
It is imperative to set up the right chart of accounts in QuickBooks for the smooth and proper recording of offerings and tithes. If they are not recorded properly, there can be a discrepancy and potentially fraudulent activities.
QuickBooks acts as nothing less than a bookkeeper for churches, since it keeps a track of all the financial aspects and incomes of the church, and helps the accountant prepare weekly, bi-weekly, monthly, and yearly reports and balance sheets of the church’s financial position.
How to set up a church in QuickBooks?
Setting up a chart of account for the church
- Open the particular file and view the list of Chart of Account templates for QuickBooks online companies.
- Go down to the particular Church and Religious section
- Click and open the file and download the particular template you prefer.
Recording church tithe along with offerings in QuickBooks
The first step is to create a donor. For this, you need to follow the below steps:
- In your QuickBooks account, on the left side of the panel, select Sales, and press the Donors tab.
- Select the New Donor tab
- Add all the necessary detail regarding the donor and press Save
The next following step is to set up items for the offerings and tithes. Kindly follow the below steps:
- Select the Gear icon, available on the top right corner of the screen
- In the List section, press Products, and Services
- Press the New button, and click the Type
- Add the details and click Save and Close
Note: In order to set up an account while creating the items, kindly get in touch with your accountant, just to ensure that the reports are precise and accurate.
If at any point you get stuck while following the steps mentioned above, it is highly recommended to hire the services of a professional.