Skip to main content

Noel D.Tallon, CPA, PC

Our clients are our friends

Home (the basics)  Want to know more?  Make Payment  Balance Errors  Church Accounting  Payroll Instruction   
Church Credentials > Banking > Budget > Elders > Expenses > Hardware > Software > Use Your Members >  
Dual Signature
Not a lot to say about this.  Do it.  It is called internal control.

Bank Charges
When I came on board with Mayfair, we were paying in the neighborhood of $1,500 a month in total bank charges.  About $500 of that was wire transfers to missionaries which you can't do much about, but you can the other $1,000.

I fought and fought with the bank to send us a detail list each month of the charges.  When I finally got a detail, I found that we were being charged for a number of things that we were not getting.  Correcting this cut the charges to $5-600.

Being a little unhappy with the service we were getting, I talked the Elders into looking at some other banks.  We changed to Servis First Bank which has a not-for-profit account with no charges and pays interest.   Let's see if my math is right.  $1,000 per month.  Where was that missionary?


Check out your options on banks.  Been with yours a long time?  How many times have they sold you to another group?

Capital One 360
We set up an Capital One 360 savings account.  With it, you can transfer money over the net as you have some available to get a little better interest rate than your bank might give you.  There is only about a 2 day turn around on the funds.  The security is incredible.

This provides an easy way to organize some special funds.  They also have CD's and are paying more than most banks.