Year-end 2020 Check List
New for 2020 Year-end There is a new Form 1099 MISC with several changes. If you only have 1099 activity in 2020 for “non-employee compensation,” then you will need to use the new Form 1099 NEC. If you have more Read More
IRS Issues Guidance on Payroll Tax Deferral Starting September 1
Payroll Tax Deferral What I know as of this post is that on August 8, 2020, the President directed the Secretary of the Treasury to use his authority to allow employers to stop withholding Social Security payroll taxes for the Read More
Exporting Remittance Data to Spreadsheet
Exporting Statistical Data from Remittance to an Existing Excel Spreadsheet Overview: Headquarter offices that use the Shelby Financials Remittance application and need to update a denominational report by adding data from existing transactions to an Excel spreadsheet will find this Read More
The Families First Coronavirus Response Act: Tracking Time Off Obligations
The FFCRA rules go into effect on April 1, 2020. Setting up Shelby Financials Payroll to track time off hours subject to the act’s provisions is easier than understanding all of the act’s provisions. See the Department of Labor’s site Read More
Best Practices – Bank Reconciliation
Dave Heston, a Shelby Financials Consultant, sent me a copy of his step-by-step guide for reconciling monthly bank statements. After reviewing the guide, I decided it belongs in the Best Practices section of my blog. You can download a copy Read More
Best Practices – Using Background Checks
I had the privilege of hearing Josh Weis give a presentation on the best ways to use background checks. I learned a lot from his presentation, and he permitted me to share his step-by-step guide with you. Just click here Read More
Best Practices: Transferring Funds
“What is the best way to move funds from one of our bank accounts to another asset account?” I get that question a lot. There are a couple of ways, but perhaps the best way is to use Enter Transactions Read More
Natural Classifications List
The largest challenge in setting up the Statement of Functional Expense report just might be coming up with a good natural classifications list. I consulted with several accountants, auditors, and accounting firms asking what they might be advising their church Read More
Statement of Functional Expense – Instructions
Shelby Financials Release 9.2 adds the Statement of Functional Expense report to the list of General Ledger reports. If you are not familiar with this report, then you should take a few minutes to watch the 2018 GAAP Reporting Standards Read More
Complying with Rights to Erasure
The European Union, as well as other governing authorities, have laws that are designed to protect an individual’s personally identifiable information (PII). In Shelby Financials’ database, vendor, customer, volunteer, and employee records all contain personally identifiable information and in certain Read More