Please contact Brad@rpfin.org if you have questions


        RE: ATF  (After the Fact)  BuxBox Weekly eFinFax  Acctg System            Originated:   February 2006                                         


        Below are ATF "After the Fact"  features of the various eFinFax   weekly Accounting System  Please Click Here for information on the overall topic of  SPENDING CONTROLS.  Also Click Here  for more information about Online Tools and/or being Internet Friendly.

  •    This is designed for the use of Small Ministries  (be it any type of   Mom-Pop Ministry  or Small or Beginning Church or a Missionary Organization)  who handles $500,000 or less per annum, but it is often adapted for the use of  BLVRs  in their pursuit of  Righteous Personal Finance, or RPFin
     

  •     As you make maximum use of the Online Tools or  "Internet Centric"  (Internet Friendly) resources displayed below.  This includes moving electronically the Online Bank and Credit Card Statements transactions directly to your accounting software.  This way you do NOT have to make entries first and then reconcile back to such data appearing on Bank and Credit Card Statements.  The accounting software gets the information "After the Fact" (ATF).  With a weekly processing emphasis the activity that has not yet gotten to the Bank or Credit Card Company is generally not that big a deal, etc.  
      

  •    Again, with a weekly processing/reporting emphasis
     

  •    Via the use of older versions of the QuickBooks Pro  (QBs) computer software obtained out on eBay, etc.
     

  •    And you use the structure and resources for Spending Controls found when you make use of the BuxBox  system.
     

  •    The afore mentioned  "eFinFax" Accounting system provides Small Ministries  with the essential BuxBox  information for the necessary Spending Controls.  Please go below and view samples of  weekly reports (Charts).

Click Here    for the  BuxBox    Video  -  or the year to date activity report, etc.
Click Here    for the  "eFinFax" system provided BuxBox  balance report 
Click Here    for the  "eFinFax" system provided  Photo  report

Internet Centric (or use of Online Tools or being Internet Friendly)

        When I use these terms I mean folk (not just our young people) who usually use their lap top Computer with a fast connection (any Computer for that matter) as they go to the Internet minimally once a day to at least receive and send Email;  they also are comfortable doing their personal finances using Computer Accounting resources.  This includes at any time (24/7) paying the bulk of their Bills online plus using the Internet to go Online and view their current Bank and Credit Card Statements.  Some people have their receipts electronically deposited (examples are:  Net pay by employers or Retirement Income by providers. etc.) to their Bank Account.  Some folk may even go to  www.irs.gov/efile  and file their federal tax returns via the Internet.

          Also Click Here  for more information about such matters and Ministry Finances.

        They also are very comfortable using such accounting software as Quicken, Money (or even old versions of QuickBooks Pro - QBs) whereby after making a deposit they know weekly if they have available money to spend.  The means to do this is what we call the
BuxBox   (or the  Quite Virtual Envelope - QVE ) system.  Some of these folk even use such resources that we describe at  0904  as they do not buy software and place it on their computer desktop but they pay a small monthly fee and handle such matters directly via Web Based (or Internet) products, etc.

        We are convinced that a beginning Small Ministry should place their money,  when received,  into pre-defined BuxBoxes , or prioritized Spending Control areas of their Ministry, and then know at least weekly by the balance within the applicable  BuxBox  if they have money to spend for that purpose until next week, etc.   I trust you find the information when you  Click Here  of value.

         Below are potential actions to be taken within context of all of this
 
        Pat and/or Pam
are the hypothetical founder and wife of a new Ministry or the leaders in a beginning new Church Plant.  If
 Pam handles their personal finances, she likely with initially do a certain part of the new Ministry's finance tasks. Other hypothetical folk are Fran and Tracy.  Fran is a volunteer - maybe the initial Board Treasurer - who often handles such tasks that are handled initially by Pat and/or Pam.  Then Tracy is the HOMER  as they all use the Internet to remotely do these things.  Usually the respective tasks originate with Pam and migrate to Fran and/or Tracy as the Ministry matures. 

                                                                Actions to be taken at the Onset

    01.    Arrange for authorized people to have access to the Ministry's Online Bank Statement  24/7
    02.    Arrange for authorized people to have access to the Ministry's  Online Credit Card Statements  24/7
    03.    Arrange for as many automatic repetitive Ministry Online Check Payments as possible
    04.    Arrange for as many automatic repetitive Online Charges to the Ministry's Credit Card as possible
    05.    Obtain plastic for use of both Debit and Credit Card Ministry transactions
    06.    Go to www.ebay.com and obtain something like QBooksPro2004 as if it were new, etc.
    07.    Set up the
BuxBox Ministry structure following basically what you find at  0002 .

    08.    Maintain a list of repetitive Ministry Online Payments/Credit Card charges and which
BuxBox to charge
    09.    Have generic original/duplicate numbered Ministry checks for handwriting purposes, and 
    10.    Conclude what Ministry expenses to pay in order of priority as explained when you Click Here.

    11.    When applicable, arrange for a weekly payroll - do this manually at first, but ultimately outsource, etc.
 

                                               Actions to be taken during the Week

Pat and/

Fran

Tracy

or Pam

Only

or Fran

As to the use of BuxBox software 

<< Post the total deposit within the software and distribute to applicable BuxBoxes

xxx

<< Process Online Payments that originate within QBs & distribute to applicable BuxBoxes

xxx

Hand write checks 

<< Attach duplicate copy of the check to supporting documents

xxx

<< Identify thereon the applicable BuxBox(es) involved

xxx

<< File these in check number order awaiting action below.

xxx

   << Process weekly payroll

xxx

Debit Cards - or authorized Plastic charges that concurrently reduce the Bank balance

<< Authorized people make purchases via the Debit Card

xxx

xxx

<< Staffer in charge obtains transaction slip and indicates which BuxBoxes are involved and sees that it is ultimately posted to the applicable BuxBoxes

xxx

xxx

Credit Cards -- or authorized Plastic charges that are to be paid later

xxx

xxx

<< Authorized people make purchases via the Credit Card

xxx

xxx

<< Staffer in charge obtain transaction slips and indicate which BuxBoxes  are involved and see that it is ultimately posted to the applicable BuxBoxes

xxx

xxx

<< Pay unpaid monthly Credit Card Statement during the first week of the month,

xxx

 

Actions to be taken on a Weekly Basis

 

<< Go to (2) Online Bank Statement make hard copy of the current Bank Statement equivalent for future reference

xxx

xxx

<< Go to QBs and check off items that that have cleared the Bank as they appear within the 

     QBs register per information above

xxx

xxx

<< Go to QBs and manually enter items that have cleared the Bank but are not shown

xxx

xxx

<< Tie such transactions to supporting docs (copy of handwritten pre-numbered checks and 

       Debit Charge documentation) and distribute amounts to applicable BuxBox(es)

xxx

xxx

<< Some posting may need to be made to a Suspense account pending BuxBox  I.D.

xxx

xxx

<< For items entered into the QBs system but have not yet cleared the bank, change the

        date to the  following week (place original date within the memo area) so you that the QBs

              Bank Acct register ending balance agrees with that of the Bank Statement, etc.

xxx

xxx

                                PLEASE NOTE --- You process only what appears on the weekly Online Bank Statement or 

           there is no need to the go through a "Bank Reconciliation" process and ascertain what deposits or checks

           that are entered in a BuxBox but have not yet cleared the bank.  Then ultimately reconcile the difference

           between balances shown by the Bank and that shown by the BuxBox system . etc.    This process is the essence

           of this "After the Fact"  System.

<< Go to the Online Credit Card Statement and make hard copy for future reference

xxx

xxx

<< Tie such transactions to supporting docs (copy of authorized Credit Card charge slips, etc.)

          Some will be repetitive automatic charges to the Credit Card Statement -

xxx

xxx

<< And distribute amounts to applicable BuxBoxes

xxx

<< Some posting may need to be made to a Suspense account pending BuxBox  I.D.

xxx

<< Ultimately the BuxBox Credit Card liability account balance and the Online Credit Card 

         statement balance will be in agreement

xxx

xxx

         Ask us about some arrangements whereby the transactions automatically go into the QBS system.  Or you are weekly mirroring within this BuxBox (QBs, etc.) system what appears (After the Fact)  on both the Online Bank Statement and the Online Credit Card Statement.  It is not a matter of you initially entering each transaction within the BuxBox  system in the usual way and then making sure that what you entered each week agrees (the usual Bank Reconciliation process) with these external documents, etc. 

          Be sure and contact us at Jim@bcidot.org or Brad@rpfin.org  if you have any questions about any this
 


   --MINISTRY FINANCE "LINGO"  ABOVE INCLUDES:

ATF = "After the Fact"  System  
BREC = Bank Reconciliation
BuxBox = A alternative Budget system
eFinFax   Accounting System

Homer = remote Mom at Home or Retiree

Internet Centric (or Internet Friendly)  = system revolves around Internet resources.
QBs = Quickbooks
QBuxBox = A QuickBooks alternative Budget method
Tracy = Homer


         This publication originated in February 2006.     UPTD:    -- Brad@rpfin.org