FINANCIAL MANAGEMENT.

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Presentation transcript:

FINANCIAL MANAGEMENT

WHAT IS FINANCIAL MANAGEMENT Financial Management is the efficient and effective management of money (Funds) in such a manner as to accomplish the goals of the organization

The Major Attribute of a Financial Manager

WHAT DO WE NEED. 1. CAC DOCUMENTS 2. UTILITY BILL 3 WHAT DO WE NEED? 1. CAC DOCUMENTS 2. UTILITY BILL 3. PASSPORT PHOTOGRAPH 4. VALID IDENTIFICATION

Opening Sub accounts for different purposes Eg Tithes, Projects, Seeds, Children’s church etc. It helps simplify the whole accounting process.

1. General entry Journal 2. Deposit booklet 3. Requisition book DIFFERENT ACCOUNTING BOOKS 1. General entry Journal 2. Deposit booklet 3. Requisition book 4. Miscellaneous book

DIFFEREN T WAYS WE GIVE

To manage funds, we have to PRIORITIZE Do we need this for service to run? Can we pay in installments? Can it wait? And for long?

General Rules Every income must enter the account first before spending. Never put church money in personal accounts. Never spend everything… Matt 13:12 There must be savings Ask more than one vendor before disbursing Waste is a big No No.