Improving Church Finances with Free & Low Cost Technology

Improving Church Finances with Free & Low Cost Technology

All of us are creatures of habit.  We become comfortable with the ways that we do things, and often forget to ask whether we could do things better a different way.  Today those changes often involve using new technology. Thankfully, for churches looking to improve there are many free and low cost financial tools that improve our systems and efficiencies. 

Wisdom Over Wealth is Featured on Bill.com as a Customer Success Story!

This month, Wisdom Over Wealth was featured on Bill.com as a customer success story! Wisdom has been recommending the addition of Bill.com to the monthly process for our church clients since January 2017.

Why Does Wisdom Recommend Bill.com?

Wisdom recommends the use of Bill.com because it simplifies the process for approval and payment of expenses through their online system or app while also syncing with QuickBooks Desktop and Online.

 

How Does Bill.com Work?

In an online system, church staff and leaders can email expense/bill information into the Bill.com inbox. From there, a church bookkeeper or volunteer can input the bill information. After input, an approval process is set up. Once approved, each payment is released to be paid. Bill.com syncs with QuickBooks in each step of the process, which provides efficiency in using their system.

Ready to Learn More?

Check out the Bill.com case study featuring Cornerstone Foursquare Church on how Bill.com has become a successful part of Wisdom’s service to our church clients.

Contact us if you’re interested how Wisdom can partner with your church to simplify your accounting processes!

 
 

What Became of the Parking Lot Tax?

What Became of the Parking Lot Tax?

Pastors around America were shocked in 2018 when they realized that their churches may have to pay the Unrelated Business Income Tax (UBIT) to IRS because of parking for their employees.  As illogical as this is, the 2018 TCJA law declared that the expense of providing free parking (and/or transit passes) for employees is deemed to be an item of Unrelated Business Income (UBI) to charities.

6 Tips for Creating This Year's Budget

6 Tips for Creating This Year's Budget

Initiating the practice of budgeting sets a plan around how God is calling His church to use the funds He will provide.  Intentional forethought from church leadership in crafting a budget guides the church financially throughout the year, increasing stewardship of the funds God has entrusted to your church, increasing accountability for church leadership, and fostering confidence in the management of funds given by congregants.

Church Budgeting, Yogi Berra, and QuickBooks

Church Budgeting, Yogi Berra, and QuickBooks

Churches frequently fall prey to thinking that there is no need to budget because “next year is going to be a lot like this year”.  When I hear those remarks from churches, I think of the truth in Yogi’s observation, and wonder if heaven weeps at a missed opportunity to hear what the Lord has planned for that ministry.  Is that church headed to where He wants it to go – or to “someplace else”?

Is Your Church Payroll Done Correctly?

Is Your Church Payroll Done Correctly?

During 2017 we became increasingly aware that a startling percentage of church payrolls are incorrectly prepared.  These are usually payrolls where the church innocently relies upon one of the major payroll companies, like ADP or Paychex, to do things correctly and “keep the church out of trouble”.

Pastor Appreciation Gifts

Pastor Appreciation Gifts

Churches seeking to truly bless their pastor(s) should remember that checks and gift cards given on Pastor Appreciation Sunday are taxable income to the recipient.  To truly bless its pastor, the church can (and should) “gross-up” the payment for taxes two ways.