This downloadable task sheet is meant to guide us in ensuring a smooth closing of one year into the next.

Target Dates:

• Oct./Nov. - Stewardship Series/Pledge Drive
• Nov./Dec. - Preliminary budget approved by leadership team or stakeholders team
• Dec. 1 – Pastor Compensation packages approved by lead team or stakeholders team
• Dec. 1 (by Dec. 1) - Updated giving statement with pledge amount
• Dec. 31 - All Financial donations must be postmarked by or received on (electronic)
• Jan. 2 - December CC statements can be printed – Call the bank if you cannot get the numbers online.
• Jan. 5 - All mileage & reimbursements for previous year due
• Jan. 10 – Final date for apportionments/giving to be credited at conference office
• Jan. 10 - All giving entered and wrapped up for previous year, year-end giving statements printed. Make sure the following wording are on your statements. “Unless otherwise noted, no goods or services were received in return for these contributions.”
• Jan. 15 - End of year Giving Statements are mailed
• Jan. 15 - W2’s & Tax Documents - done by payroll
  • Send any 1099s that need to be sent by Jan. 31
• Jan. 31 - Close previous year’s books (this is relative and can be done early if you have everything entered)
• Feb 1 – Tables I, II, and III must be submitted to Conference Office.
• Feb - Financial Audit – Contact John Mitchem about this.

Vanco (Online, Text, CC Giving)

• New year pledges adjusted to new amounts on December 30
• Reconcile electronic giving fees/invoices

Membership/Contribution System

• Reconcile membership giving & Quickbooks income amounts
• Generate end of year giving statements
• Giving statement with pledge totals sent out about 1 month prior

Quickbooks (Accounting System)

• Monthly Profit & Loss reports (Statement of Financial Activity) generated, printed, filed, and digital back ups
• Monthly balance sheets (Financial Position) generated, printed, filed, and digital back ups
• Year End P& L Report
• Year End Balance Sheet
• Year End Executive Summary
• Year End Designated Funds Report - detail activity
• Year End Designated Funds Summary - balance from beginning of year and end of year

Donations

• Thank you notes for pledges - Dec.
• Thank you letter/year end letter for end of year giving statements must be mailed by Jan 31.

Bills

• Outstanding bills turned in the first week of Jan
• Final checks cut by second week of January for previous fiscal year

Credit Cards

• Statements can be printed from online the 2nd of the month
• Outstanding CC transactions from previous year could be placed on a spreadsheet

Banking

• All bank statements for the year printed, filed, and digital copies
• Statements Reviewed by Check signers
• Deposit slips filed, digital copies???

Financial Audit

• Outside financial audit
  • Potential auditors: Steve Abbott, John Mitchem

W2

Make sure matches comp form, 3.6 taxable wages; line item 3 should match box one of W2
Housing allowance should be listed as non-taxable income
Contact payroll to verify before printing and sending W2