What every business and church should do at year-end

A few things to keep in mind at year-end:

  • Donor ledger and other sub-accounts reconciled to general account

  • Loans - verify compliance with covenants, especially if PPP loans are still on the books

  • Update annual conflict-of-interest forms

  • Update detailed property and equipment for purchases and retirements

  • Destroy records according to document retention and destruction policies

  • Review and update insurance policies

  • Review bank accounts and close any that are unnecessary



From Church Law & Tax
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