BP 11122023 129pm - Flipbook - Page 59
Church Financial Review Checklist and Explanations
The following is a checklist of financial reviews that should be performed at each church, and
what to look for in the review. We recommend that these reviews be completed by the Pastor,
Administrator and Finance Council Member as may be applicable for your given situation.
Bi-Weekly Reviews of Payroll
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Review of PRE- and POST-processing payroll registers recommend that they be evidenced by signature and
date on the totals page
These reviews should take place each time payroll is processed.
Monthly Reviews
– recommend that they be evidenced by signature and date of review
Balance Sheet and Income Statement
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compare actual to budget for reasonableness
All Journal Entries
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Consider running the Monthly JE List report in PSA
Bank Reconciliations for operating account and D&L
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Verify that the balance per bank account in PSA agrees to bank statement
Review individual entries on bank statement, question items when appropriate
Utilize the 'Funds Transfer for BILL Payments' report from bill.com for the month to be able to see the
details of the batch total posted on the bank statement.
Review check register and detailed trial balance
Review the bill.com dashboard to review outstanding invoices and bill approvals
Reconciliation of PSFS posted contributions to PSA
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Recommend this is done at the fund level
Quarterly Reconciliations and Reviews
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Statements or Subledgers to PSA
recommend that they be evidenced by signature and date of review
Endowment account balances using the statement from North GA Foundation
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Verify that the appropriate GL balances agree with the NGCF statement
Review that all deposits, transfers and withdrawals were appropriately approved
Religious Education: payments, student listing and scholarships to PSA G/L
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