B R A D ' s ON L I N E R M E M O- - -
TO: Interested Onliners FROM: Brad Pendable - CPA
RE: Maxims re "Brads Nest of Bees" Ministry ORIGINATED: February 2008
"Maxims" could be called Ministry Finance "Truisms". The intent is to show below a partial list of unique finance and accounting principles and/or precepts that often are a 'rule of thumb' that mostly applies to Ministries as they are good stewards as they obtain/manage Ministry finances and related resources.- - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - -- - - - - - - - - - - -
01> Make full use of the Budget alternative system called BuxBox ---- much like the Mvelopes system used by Christian Family Units (CFU) to control their spending, etc.
02> Do not cash checks --- all are to be deposited in Bank
03> Pay off Plastic account (Credit Cards) weekly
04> Minimize use of Green Stuff in your buying process since it does not contribute to keeping good record keeping.
05> Maximize use of ECCU or similar Credit Union
06> Maximize use of Plastic (Credit Card and Debit Card) Today almost everyone sells via Credit Cards so you do not establish charge accounts at a local vendors -- like where you buy any supplies or services (Bookstore). All purchases are made at either a local vendor or online via use of the Credit Card.
07> Maximize use of Online Bank and Plastic account resources; including Online receipts of as many donations/event fees income as possible; Pay repetitive vendors Online as much as possible.
08> Maximize use of the ATF (After the Fact) method whereby you post to BuxBoxes from Online Bank and Plastic account info; No Bank Reconciliation or Plastic Reconciliation issues or efforts. No need to create and post to Credit Card/Plastic liability accounts. See eFINFAX for more information.09> You MUST do the necessary money record keeping in order to be a God-honoring good financial steward of financial resources. Guessing about the amounts available to spend is extremely dangerous!
10> Please Click Here for details about reaching the desirable following seven goals:
1- Pooled Bank accounts;
2- Readily know the balance in each Fund;
3- A single entry does the job;
4- Ease of setup and viewing of internal Financial Reports;
5- Spending Control (yea, Budget) capabilities;
6- Fund Balance "Carried Forward" Issues;
7- Condensed or overview Financial Reporting11> You do NOT integrate your QuickBooks (QBs) system and your "People and Donation" record keeping (Jim Bee refers to this as a separate DonaMail file or system). Click Here for more details.
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Updated Last: April 20, 2010
Fresno, California
Please contact Brad Pendable by Email at Brad@rpfin.org| OUR PURPOSE | WHY "NEST OF BEES" | WHO WE ASSIST | ASSISTANCE EMPHASIS | ASSISTANCE SPECIFICS | INFO ABOUT BRAD