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Financial Software for Churches and Nonprofits

News and Tips from Shelby Financials' Product Owner

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Category: Church Finances and Procedures

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  • Church Finances and Procedures

Tracking Families First Coronavirus Response Act’s Paid Salaries

August 24, 2020August 24, 2020 Alfred Johnson4 CommentsBreaking News, Church Finances and Procedures

New regulations now require COVID salary payments to be reported in box 14 on employee’s Form W-2 2020. If your organization has issued COVID salary payments, as defined by the Department of Labor, then you will need to report those Read More

PPP’s New Rules with Dave’s Revised Worksheet

June 7, 2020June 15, 2020 Alfred Johnson4 CommentsBreaking News, Church and Politics, Church Finances and Procedures, Nonprofit News

Friday, June 5, 2020, President Trump signed the Paycheck Protection Program Flexibility Act, which the U. S. Senate passed with a unanimous vote. There are two major changes. First, the period in which funds can be used has tripled from Read More

Tracking your Paycheck Protection Program Expenses:

May 12, 2020May 12, 2020 Alfred Johnson4 CommentsBreaking News, Church Finances and Procedures, Financials Tips

Expense Tracking Worksheet (Updated) Still looking for a way to track your PPP loan balance? Well, you are in luck because Dave Heston just made his revised spreadsheet available. Click Here to Download the Spreadsheet.

Am I On Track To Use All Of My PPP Loan?

April 30, 2020April 30, 2020 Alfred Johnson2 CommentsBreaking News, Church Finances and Procedures

Several readers have asked for help in tracking and documenting their payroll and other expenses that might be covered with their PPP loan.  Your first step should be to check with your accountant or tax expert for guidance.  Also, ask Read More

Major Court Victory for the Ministers Housing Allowance

March 19, 2019March 19, 2019 Alfred JohnsonLeave a commentBreaking News, Church and Politics, Church Finances and Procedures

This just in from ECFA, Religion News Service, Baptist Press, and other sources. The U. S. Seventh Circuit Court of Appeals has unanimously reversed a 2007 lower court’s ruling that clergy housing allowance is unconstitutional. This is excellent news for Read More

Washington State Family and Medical Leave

December 19, 2018March 10, 2020 Alfred Johnson2 CommentsChurch Finances and Procedures, Financials Tips

The Washington State Paid Family and Medical Leave insurance programs to become effective on January 1, 2019.  Premiums and withholding information are available here. NOTE:  The instructions below use feature changes in Release 9.2.2 Year-end Patch. If you use Shelby Financials Read More

Natural Classifications List

December 7, 2018December 7, 2018 Alfred JohnsonLeave a commentBest Practices, Breaking News, Church Finances and Procedures, Financials Tips

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

November 28, 2018December 7, 2018 Alfred JohnsonLeave a commentBest Practices, Breaking News, Church Finances and Procedures

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

Court Rules: Gifts to Pastors are Taxable Income

November 14, 2018November 14, 2018 Alfred JohnsonLeave a commentBreaking News, Church Finances and Procedures, Nonprofit News

I suspect that most readers of this blog already know that tax-free income is rare.  And, a tax court in Minnesota has ruled that love offerings to pastors must be treated as taxable income. Check the ECFA post for all Read More

2018 GAAP Reporting Standards Webinar

October 17, 2018October 17, 2018 Alfred JohnsonLeave a commentBreaking News, Church Finances and Procedures, Financials Tips

In this 43 minute webinar, Rodney Smith, an auditor with PSK, covers new reporting standards for churches and other nonprofits.  Alfred Johnson, Shelby Financials Product Owner, provides a quick look at the new Statement of Functional Expense Report. The new Read More

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Current Release: 10.4.2

Current release is 10.4.4

Release 10.4.5 is scheduled for 1/14/2021 and should address RM and GF email statements as well as ACA updates.

Will continue releasing changes on a frequent basis.

All 10.4 Release Notes

 

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