B R A D ' s     ON L I N E R     M E M O- - -

         TO:  Interested Onliners                                                                                                          FROM: Brad Pendable - CPA
                                                                                                                                                                        
    
         RE:   eFINFAX  Ministry Fund Accounting System                                                          ORIGINATED:  February 2008                 


         The primary objective of any  "Ministry Fund Accounting"  system is to timely provide decision makers with at least these following "Vital Signs" as they ask themselves the following questions:

1> How much "pooled" money is on deposit
2> Who owes us money and how late are they
3> Are we current with our bills and like obligations
4> What is the amount (or scope)  of donor restricted money
5> What is the amount of Board SetASide and/or discretionary money.
6> Do we have a SPENDING CONTROL system
7> Are we living within our Operating/General Fund budget constraints

         This is accomplished primarily via what we call the  "eFINFAX Ministry Fund Accounting System"   -- as designed within context of the following:

Who?     -    Targeted to "SMALLER CHRISTIAN MINISTRIES" or to "CHRISTIAN  FAMILY  UNITS"

What?    -    To do complete (accrual basis equivalent) money record keeping of all relevant transactions

How?     -     Via computerized accounting software and electronically provided Online Internet resources

Ways?   -     By Online accessing/obtaining - downloading Bank & Credit Card transaction information

                      - - - - -You generally do NOT enter transactions into the system and then
                                                reconcile their Bank/CrCard info to yours  - - - - -

How?    -      Obtain current Bank & Credit Card transaction information & get it placed into the system

When?   -    This has a weekly transaction processing and reporting thrust

Where?  -    Transactions are placed within pre-approved operational/finance areas of the operation

Why?      -    So you know if you have balances of money within these areas to righteously spend


Please see comments about expense Accrual/Cash methods of accounting/reporting when you Go Here

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UPDATED LAST:    March 01, 2009

                                                                                                                     Fresno, California
                                                                                 Please contact CPA Brad Pendable by Email at   Brad@rpfin.org  

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