2018 GAAP Reporting Standards: What You Need to Know

GAAPwebinarSocial18 1024x538 - 2018 GAAP Reporting Standards: What You Need to Know

Is your ministry prepared for the new GAAP reporting changes that take affect for this filing season? If your church files reports according to these GAAP standards and you haven’t made the necessary changes in your accounting practices, you could be looking at a larger bill from your auditors and a scramble at the end of the year. Join the team from FellowshipOne along with our partners at Arlington, Texas accounting firm PSK CPA as we discuss these changes and talk about ways you can be sure you are in compliance.

BONUS: Get a preview of the new tool coming to ShelbyFinancials that will help make pulling together records for GAAP a breeze.

To register, click here.

Free Webinar on 2018 Tax Changes

CalculatorBlogHeader 1024x532 - Free Webinar on 2018 Tax Changes

FellowshipOne is proud to partner with PSK CPAs to bring you a FREE webinar titled Navigating Uncertainty: Three Key Changes in the Financial and Tax Regulations for 2018 at 1 p.m. CST tomorrow (June 28). To help you prepare for these new changes, we will also be discussing the integration between FellowshipOne’s church management software and ShelbyFinancials, the leader in church accounting software. Don’t miss this opportunity!

To register for this upcoming webinar, click here.

What happened when the F1 team started using Insights Visualizer: Part Three

Our series on our employee Visualizer Dashboard contest culminates today with our winner. We hope this contest and blog series has given you some great ideas on how you can implement Insights Visualizer. As you develop  dashboards that you think would be particularly useful to other churches, we would love to hear from you and see your dashboards!

Unknown 2 1024x502 - What happened when the F1 team started using Insights Visualizer: Part Three

The winner of the contest is Ernesto Marquez, a Customer Success Manager for Southeast US and International, who has been with F1 since 2013. His dashboard shows a quick view on important metrics for an Executive Pastor or Senior Pastor, allowing them to either track progress or know if they need to pay attention to a challenge. We asked Ernesto a few questions about his process in developing this dashboard.

How did you come up with the idea?

EM: I tried to put myself in the shoes of a pastor on a church leadership team and think about what they would want to see every Tuesday morning.

How easy it was to develop?

EM: It was somewhat challenging to be honest, I built this idea from some templates from Bayside Church.

Did you hit any snags along the way?

EM: Training is recommended for this level of  Insights and I wish I  had a bit more experience before diving in. But other than that, the actual interface is simple to operate.

Who do you think would most benefit from using this kind of dashboard?

EM: With custom-made dashboards you can create something valuable for everyone from executive level pastors and directors to volunteer leaders.

Learn more about FellowshipOne Insights and Visualizer here.

See what happened when the F1 team started using Insights Visualizer

Recently we held a contest to see which FellowshipOne team member could develop the best and most useful Insights Visualizer dashboard. While it was a friendly competition, it helped highlight how this product could best help our customers. Over the next few weeks, we will be featuring the work of the top three winners.

The third place award went to Finance Coordinator Matthew Wickline, who has been with F1 for three years. Being a finance specialist, Matthew’s dashboard is an in-depth look at contributions. Its main purpose  is to manage your contributions, where they are coming in, what method are they coming in by, and to see if a church’s attendance/worship numbers are influencing those contribution numbers.

WicklineGraph 1024x742 - See what happened when the F1 team started using Insights Visualizer

We asked Matthew a few questions about his process in developing this dashboard.

How did you come up with the idea?

MW: My main area of expertise at FellowshipOne includes Billing, Accounting, and Finance related functions and as such my first instinct with Visualizer was leveraging it as a tool to analyze specific cash flows for churches.

How easy it was to develop?

MW: Conceptually I think development of the dashboard was fairly simple. The complexity of the dashboard comes into play when churches decide what, and how they want to analyze and forecast financial data for their given church. I think those in the Finance/Accounting realm will have a fantastic time with Visualizer as it provides great flexibility with how you report and what you are reporting on.

Did you hit any snags along the way?

MW: As with all financial data, reporting on it can be difficult – you need to ensure your values are presented in a manner that is useful to you/those you are presenting to. I wouldn’t consider it necessarily a ‘snag’, but most of the reporting on this dashboard is very ‘tip of the iceberg’ kind of reporting that could be done from a finance perspective. In order to take this report to the next level, the church would have to identify what pieces of their financial reporting are most important to them – so they can create more customized reporting to dive deeper into those values and get a more thorough understanding of their cash flow.

Who do you think would most benefit from using this kind of dashboard?

MW: The Accounting or Finance departments or the volunteers assisting the church with keeping finances in order. Potentially the lead Pastor at a church if the congregation is on the smaller TWA (Total Weekly Attendance)  range.

Learn more about FellowshipOne Insights and Visualizer here.

The Cost of Giving Statements

Believe it or not, the holidays are fast approaching. For churches, this time of year usually entails a significant increase in giving which is both a blessing and adds extra work for your staff. Printing and mailing giving statements is a significant cost and time burden for you and your staff. It could even be viewed as wasteful, if you consider that some of your records are duplicates or contain errors that make them undeliverable.

On the other hand, online viewing of contribution statements costs you nothing extra when you have FellowshipOne Church Management Software. And it’s easy for your members to access and print out, and they will appreciate the online access. How much can you save with online viewing of contribution statements? Take a look below to see the savings from eliminating two mailouts of 2,000 statements.

 

Continue reading “The Cost of Giving Statements”

The Summer Slump: Decreased Giving to Churches

In the summer, the temperature may be rising, but charitable giving is on the decline. Many factors play a part in this, including lower weekend attendance, vacation schedules, and summer distractions.

It turns out that contributions entered by Fellowship One churches in June, July and August of 2013 were down 13% over the previous three months!

Summer Slump Blog Data Graphic 300x276 300x276 - The Summer Slump: Decreased Giving to Churches

The most obvious answer for giving slumps during summer months is that attendance is down. However, if we know attendance is going to be lower as people go on vacation, resulting in less contributions being made, why don’t we do something to keep it from happening?

 

Continue reading “The Summer Slump: Decreased Giving to Churches”