PowerChurch Resources
7. Statement Reconciliation
Reconciling the bank statements is a very important part of the accounting/bookkeeping process. Download or view our bank reconciliation PDF. We will be going through the bank reconciliation process in PowerChurch. I will be sharing some helpful tricks I use to make the bank reconciliation easier and even fun!
6. Forms 1099-NEC and 1099-Misc
1099 forms and the 1096 transmittal form are due on January 31st.
5. Time for a Chart of Accounts Checkup?
It’s time to prepare the monthly financial reports. Are you frustrated before you even begin? Are you thinking about all the extra time it takes for you to do manual reports that you think PowerChurch should be doing for you? If you feel like I have just stepped into your world, it might be time for a Chart of Accounts Checkup.
4. 4th Quarter Federal 941, W-2, and W-3 Prep
There are important steps BEFORE preparing the 4th quarter 941 and W-2 forms. Do you know what they are?
3. New Form W-4 as of 2020
The IRS has released a new W-4 for 2020. It is the responsibility of the church employees who process payroll and make payroll tax deposits to stay informed regarding this new information. We encourage all employees who are responsible for payroll to read the IRS Publication 15-T explaining these changes.
2. Bonuses & Love Offerings
Bonuses and love offerings for pastors and staff are exciting to give during this season, but can cause a headache for the church bookkeeper. As a reminder: Per IRS rules, Bonuses & Love Offerings MUST be run through payroll.
1. Year-End Payroll
Immediately following our beloved Christmas season is a busy month of work for those who handle the church’s book and records. One of the post important tasks is payroll reporting: payroll tax returns and W-2s.