Ministry Accounting Services

Service Summary Sheet

 

FAQs

Your friends at the Mississippi Baptist Foundation are always happy to answer your questions by email (foundation@mbcb.org) or phone (601-292-3210). However, certain questions may be answered by a quick review of our FAQ section below.

 

How are Church expenses paid?

Invoices and bills are electronically scanned and forwarded to the Mississippi Baptist Foundation. Accounts Payable entries are made in the accounting system. Checks are created in a PDF file format. The PDF file is then securely transmitted to the Church for printing, signing, and mailing of checks to pay the expenses. 
 

Who keeps the Checkbook?

The Church keeps the check book and can write any checks needed. 
 

What about Contributions?

Many churches have moved to electronic giving. The church provides the Foundation with a password and the accounting entries (including contribution tracking) can easily be made. 

Gifts made via cash or check to the Church can be documented and a deposit made just as it is now. The Church then provides the Foundation the information needed for contribution tracking and to record the deposit made by the church. 
 

How are the Church accounts reconciled?

Most banks offer on-line access to bank statements. The church provides the Foundation with a password that allows the Foundation to easily and securely get a copy of the bank statement. 
 

Can the Foundation handle Church issued Credit Cards?

The Church receives the Credit Card bill. Items listed on the bill are categorized according to church policy.  The bill is then transmitted to the Foundation. The entry is made allocating all the charges to the proper accounts. A check is created in PDF format and securely transmitted to the Church for printing and mailing. 
 

Does the Church keep its Debit cards?

Sure. Documentation for the Debit card transactions are submitted to the Foundation for recording in the accounting system. 
 

What about Payroll?

Payroll is handled via a 3rd party payroll company whose software integrates with the Foundation software.  Payroll can be direct deposited into employee accounts. For any employees paid hourly, the Church would need to furnish documentation of the hours worked by the employee. In addition, all IRS Form 941, as well as W-2 and W-3, forms are completed and filed in a timely manner. 
 

How much does the Ministry Accounting service cost?

The cost is based on the actual amount of work/transactions that are required, along with the number of employees on the payroll. Contact the Foundation today for an estimate.