Whether your church is large or small, it likely has some fixed assets, so it’s important to know the requirements for tracking those assets. Accurate accounting is essential for stewarding your resources well. In this webinar, you will learn about church asset management and how to track fixed assets to demonstrate accountability in your church.
We will discuss the following topics:
- The fundamentals of fixed assets in advanced church accounting
- Calculating and comparing different methods of depreciation
- Allocating the cost of fixed assets, according to Generally Accepted Accounting Principles (GAAP)
- Maintaining a record of depreciation for each fixed asset
- How software can help you track fixed assets
There are many benefits to using good software for tracking fixed assets in your church accounting. Some of the biggest benefits include accuracy and efficiency. The software can help streamline your process since it will automatically apply monthly depreciation over the lifespan of each item. It’s easier to track a large volume of assets. It also reduces errors or missed journal entries.
You can easily do all these things with Aplos, which will make asset management easier for your church. In addition, Aplos allows for custom asset names and unique identifiers, automatically creates the journal entry that needs to be posted, and more. Try it for free.