This church income statement template can be used to create a clear and simple church’s income statement. This article will give you three main points to build your church’s income statement. These points are:
-A church budget should include all sources of revenue and expenses, which is why the church needs an income statement to make sure it remains in the black.
-The church should have a budget that allocates funds for ministry outreach programs and other general operational costs such as salaries, utilities, rent, etc., so that they can thrive financially without having any debt or deficit spending.
-For churches to stay afloat financially, there must be a plan where every dollar coming into the church is accounted for and spent accordingly.
Churches can benefit greatly from building their church’s income statement. No church should be operating on a deficit spending budget. Otherwise, it’ll continue to grow further into debt and eventually go bankrupt.
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