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Friday, January 25, 2013

Credit cards

Have a church credit card specifically for youth ministry or at least the educational ministry. 
  • Using a personal credit card means that people will see your personal expenses as well as the church's. 
  • Have the church's accounting system set the credit card up as a credit card account (sometimes simply called an asset account).  There is a mechanism for handling credit cards in most accounting packages.  This allows expenses and payments to be asynchronous and you don't get hit with finance charges because someone didn't get a voucher in on time. These accounts reconcile just like a checking account.
  • The credit card statement is a clear record of expenses, and easily posted to the correct line items.

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