Power-up Your Ministry Financial Management
By Christine Bove
Read Time: 3 Minutes
One of the most valuable resources you hold within your ministry is finances. Now God is the one who makes a way and provides, but with the gift of finances given to churches, you are charged with the task to steward your finances well.
Managing finances for your ministry can be overwhelming. Not everyone is skilled at handling the numbers side of ministry!
No matter where you are or what skills you have regarding finance management, here are a couple of tips for you to handle your ministry's finances with confidence.
Track your donations
One of the key ways to steward your finances is to track what is coming into your ministry. You will want a clear picture of what amount of donations are being received, and to do that, you need a tool that will tell you exactly what you are receiving.
There are many tools out there to help manage your donations. Take a search and see which tool best fits the needs of your organization.
You will want a tool that includes:
- Donor management
- Contribution management and reporting
- Donation reporting
- Ability to send contribution statements and receipts
You will want a tool that gives you vital information about your donations to know what is coming into your funds and from whom.
Take a look at our newest Kingdom Steward donation management software! Redesigned with ease-of-use in mind, manage your donations in a new way with our powerful dashboards and reporting. Having quick access to these numbers will empower you to accomplish your mission.
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Once you have a clearer picture of how much is being gifted, you will then be able to create budgets, plans, and more to grow your finances.
Read more on how to create a church budget here.
Pro Tip: Set up online giving! Online giving makes it easier than ever for your members to invest in the Kingdom of God. Establishing online giving through your church's website will open more doors for your members to be active participants in donating to your church and mission.
Hire the right bookkeeper
To power up your ministry's finances, you need to have a clear understanding of where your finances currently stand.
Not only does this account for the donations coming in, but all of your ministry's expenditures. You won't be able to build and grow based on "guesstimations" about your ministry's financial state. You need to have total clarity on what you receive and where you are spending.
Having a ministry-minded bookkeeper will be essential for the growth of your ministry's finances. While it may sound counter-intuitive to pay someone to manage your money (even on a tight budget), having a ministry-minded bookkeeper will be a game-changer in the health of your finances.
All of those questions you have about your finances staying IRS compliant can be answered with a knowledgeable bookkeeper. Best financial practices are brought to the forefront of your ministry when you have a bookkeeper who understands your church but knows how to keep your finances compliant.
Read more on how a StartCHURCH Bookkeeper saved a ministry $8,000!
Don't get stuck in the numbers. Let us help take care of your ministry's finances through our Bookkeeping service! Please call us at 877-494-4655 to speak to a specialist to learn more today.
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Continue to learn
There is always something new to learn in managing your ministry's finances. Whether it be best practices to execute or a new law the IRS implemented, you will always want to keep learning and growing with your finances.
One of the best ways to keep learning is to take online courses! Online courses are a great way to continue learning but learn on your own time. There are so many wise courses out there to help you elevate your finances.
When looking for a course, look for these specific topics:
- Church and ministry budgeting
- How to handle church donations
- How to pay your staff
- Understanding credit and reimbursements
These will be essential topics for you to power up your ministry's finances.
Are you interested in learning more? Take a look at The Financially Healthy Church Video Course! Learn from ministry bookkeeping experts and elevate your ministry's finances.
The best is yet to come
We want to encourage you that you don't have to tackle your ministry finances alone. Managing finances can be exhausting, but they don't have to continue holding you back. Whether you outsource your financial assistance or find volunteers to help you grow to the next level using a donation management system, you can focus on what God has called you to lead. Steward what you have been given well and, by proxy, have significant Kingdom impact.
If you would like to learn how StartCHURCH can help you manage your church's finances, please call us at 877-494-4655. We would love to speak with you and learn how we can serve your ministry!
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