[Q & A] How Should We Handle Petty Cash on Sundays?

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Video Transcript:How Should We Handle Petty Cash on Sundays?Hi I’m Belinda Whitfield and today is open Q&A day. It’s going to be done a little bit differently today.In fact this is not really a question, but a person revealed some information when they were submitting some information about their organization and had some general questions. What the writer revealed was that we currently do not have a petty cash fund, but there are miscellaneous items that are taken from the church offerings. “Receipts are available and moving forward we plan to set up a petty cash fund.”Which is a good thing that they’re planning on doing. But I just want to talk to you about that. I find that this is a common issue with churches that I take on as a client. Part of the offerings are being used for miscellaneous expenses. That is a poor internal control process. One of the things you want to do is when your counting team counts the money you want to make sure that all of the offerings make it to the bank.Try to set up a separate petty cash fund in order to take care of those incidental expenses so that you don’t have to tamper with the offerings.That’s my accounting tip for today. Be sure to subscribe to my channel and have a blessed day.Got questions about church finances? Submit your questions to me on my website at https://churchcpa.com/contact-us/]]>

Belinda Whitfield

Belinda Whitfield is a certified public accountant that specializes in serving churches and non-profit organizations. Through her firm, Whitfield & Associates, she provides tax services, accounting and compliance oversight and strategic planning for churches and non-profits throughout the United States.

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