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Cash, Accruals, Prepayments, Accrued Expenses & Income, Income Received in Advance, Prepaid Income AAAGH!!
What does it all mean? When do I use which one? All this “Accounting-ese” words can confuse. However, these words are especially important at year end; a time that is already busy, confusing and stretching in many ways! Hopefully the following notes will simplify and...
Charging and claiming the correct GST on Church property rentals
Many churches rent their property spaces – commercial, residential & Halls. Some churches rent these properties at full market rate, to support the work of the ministry of the church. Many churches choose to rent their properties at a low rate as part of...
NFP’s & Churches – Time to check that you are claiming and charging GST correctly
GST for all organisations: Let’s just do a quick recap of the basics first. GST is a tax on goods and services provided by organisations/businesses for other organisations/businesses/people. It is a BtoB (Business to Business) and a Bto C (Business to End Consumer)...
We must talk about money in our churches!
Jesus asked “if you have not been trustworthy in handling worldly wealth, who will trust you with true riches?” (Luke 16:11). Nowhere is that more true than in our handling of church finances – money that has been given to God’s work. When people entrust us as...
Converting from MYOB to Xero – two main methods
Once you have made the great decision (in most cases) to convert from using MYOB Accounting software to using Xero Accounting Software you have to consider the conversion process. There are several methods to convert the accounting software and date for your...
Easter and Church Finances Part 2
In our previous article, “Easter and Church Finances Part 1” we considered Judas’ position as the keeper of the money bag, his theft and betrayal of Jesus. This article explores how this can happen and what we can do to reduce the risk of theft and misappropriation...
Easter and Church Finances – Part 1
Wait, what ….. Easter and church Finances …. what do they have in common?? Isn’t that sacrilegious to talk about finances when Easter is about the amazing gift given to us because of the incredibly painful, sacrificial death and amazing resurrection of the Son??? ...
The Benkorp Story
The Benkorp name comes from founders Cecil Benjamin and Jeanette Korporaal. Qualified accountants, Cecil and Jeanette have worked together in various capacities since marriage 32 years ago. They both worked in corporate finance & accounting for a large...
Billy Graham – a man of absolute integrity and steely focus on his calling to share the Gospel
Billy Graham – a man of absolute integrity and steely focus on his calling to share the Gospel. “William Franklin Graham Jr., better known to the world as Billy Graham, was laid to rest on Friday, March 2 in his hometown of Charlotte, North Carolina. Born the son of...