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News & Updates
How to… Prepare the GST reconciliation report
Year end is a busy time for the bookkeepers, accountants and treasurers for churches. There are a lot of reports and a lot of detailed accounting work that must be completed. Amongst all the reconciliations of assets and liabilities is the reconciliation of the GST....
How to … Prepare and present the Payments Transactions Report from Xero.
Payments Transactions Report from Xero, this has been one of the commonly requested report forms requested by our clients. Many people have been using spreadsheets for the church bookkeeping and accounting which means there are can be doubts about the accuracy or...
Don’t get caught unprepared! Be ready for the upcoming Audit or Assurance Review!
2019 is gone and a new year, a new decade has begun! So now, for most churches and many not for profit organisations, it is time to prepare for your annual audit or assurance review. Here are the main steps that we have developed over many years of working with...
Christian Leaders need to be above reproach
This article is another in our series about “5 Principles to Raise the Financial Management of your church for God’s Glory”. This time we focus on Principle 1 - We are called to be above reproach What does it mean to be above reproach? The Bible speaks of being “above...
5 Principles to Raise the Financial Management of your church for His Glory!
At Benkorp we believe our calling is to Raise the Standard of Financial Management of Churches and Christian organisations for God’s glory. The way our churches manage their finances is an extremely important witness for God’s Glory. We believe that Christians are...
Xero’s new Terms of Use – made Easy
Xero is updating their terms of use effective from 1st Dec 19 They are joining a trend of corporate organisations to simply their terms of use and remove as much legal jargon as possible. You may have forgotten, but when you accept an invitation to access Xero, you...
What if the GST on your Bill isn’t 10%? We have the answer!
Sometimes we receive a tax invoice and the GST is not equal to 11th or 10% of the Invoice before the GST is added. In Australia GST is either 10% or 0%. So, why does it sometimes appear to be different? In this example receipt from (say) Woolworths, the total...
Dealing with Donations received for on-payment to other Good Causes!
So, what do I mean, when I say Donations Received for others? When I refer to Donations Received for Others, in the church context, I am referring to the money given to, or collected by, churches. This money is given with the expectation that the church will pass on...
Official COMPLIANCE TO-DO list in a Treasurer hand over
When there is a change over of treasurer in the church or part of a committee board, do you know who you need to inform? Do you know how to officially notify the right people? Churches are notoriously lax in updating their compliance details: government agencies...