Accounting Vertigo: Is Your Church Accounting Detached from Reality? And How Can You Tell?
Vertigo: “Confusion resulting from misleading information sent to the brain.”
Vertigo occurs in pilots when they fly in hazy conditions and lack any reference to the reality of the horizon. Without reference to objective truth, the horizon, it is possible for pilots to fly their airplanes into the ground while thinking they were flying level.
Church accounting systems can also suffer vertigo. Unless there is a connection to objective truth outside the system, the accounting may become out of touch with reality – possibly causing a crash to the ground.
Making the Jump to QuickBooks Online
To allow flexible work arrangements, receive updates more quickly, and work more efficiently, many churches are migrating their business solutions to the cloud. Many have already moved to the cloud and are experiencing the benefits of having software available wherever they are rather than being tied to a specific desktop. If you are using the desktop version of QuickBooks, we would recommend making the move to Intuit’s cloud-based solution, QuickBooks Online (QBO) one of Wisdom’s preferred accounting software solutions.
PPP Loan Applications Draw 1 & Draw 2
Allison Michaud gives a step-by-step video of how to apply for PPP Draw 1 & Draw 2. Please Contact Us if you have any questions!
Links mentioned in the video:
A New Way to Protect Yourself from Identity Theft
Getting the Facts Straight on Housing Allowance
Do You Really Need An Audit?
Or, do you need the confidence that a CPA looked at your church’s books?
The term “audit” has been used in church circles to refer to having an CPA look at the books, exercise their professional judgment, and give accounting support. In the world of CPAs, a traditional audit requires many regulations and procedures that we have found many churches and nonprofits do not benefit from. We at Wisdom have found another option: Financial Statement Preparation.
Paycheck Protection Program Loans, Take Two
Late Sunday, December 27 President Trump signed the omnibus bill of $2.3 trillion passed by Congress just days before. Originally President Trump refused to sign the bill desiring more money to go to the American people; it appears that Congress is making attempts to pass additional legislation today (December 28, 2020) to meet the president’s demand on behalf of the American people.
Wonder & Joy
Christmas time! A time of wonder, joy, and excitement. This time around Christmas is usually spent preparing for yummy feasts, exchanging thoughtful presents, and spending time with loved ones. But this year may look a little different; this year may feel like the wonder is lost, the joy has been taken, and the excitement is nowhere to be found. As the month of December continues, it almost feels like just another month to make it through. As we wrestle with how Christmas 2020 feels, we should stop and listen.
