I need help understanding the church's Income Statement

Church financials are often put together by volunteers with limited experience keeping financial records for churches. They often do a great job, but this should be a little help to those that are struggling.
- Income Statement Template: jctaccounting....
- QuickBooks Chart of Accounts Template: jctaccounting....
- Dakotas Methodist Foundation. www.dakotasumf...
- DWU: www.dwu.edu/

[@stacylbrewer]

I really appreciate your videos! I recently got a job as church treasurer, and though I do have an MBA I've been a stay at home mom for 15 yrs. YIKES. So these short videos are wonderful for someone like me who needs a refresher course.

[@JeffPospisil]

That's great to hear! I really like doing these videos on the side and just sharing what I'm learning.

[@CibusMission]

Thank you for this information! As always, great video and more people should be watching!

[@JeffPospisil]

Thanks!

[@johnjeremih]

I had the donors restricted funds as income, but then I realized that I needed to track how much money we had to give, so I moved to a equity fund.

[@JeffPospisil]

That's my favorite way of accounting for donor restricted funds. It makes it much easier to know the balance.

[@xxxKIDPWNxxx]

Your reports look good but they are extremely detailed , you can simplify this a little by using more generic accounts .

[@JeffPospisil]

Thanks, Antonio! It's easy to get lost in the details. What I normally try to do is use sub accounts. That way I can summarize things for higher level discussions but still provide enough details for those in charge of certain programs (parts of the budget).