10 Church Finance Reminders for 2025
We compiled a list of 10 important reminders to help your finance team and staff kick-off 2025. We tried to separate them between church admin/staff and the finance team, but we realize there is always overlap. If you have any questions or need help, don’t hesitate to reach out to us!
FOR CHURCH ADMINISTRATION & STAFF
Request W9s For New Vendors - Before issuing any payment (check or ACH) to contractors or vendors, it’s crucial to have a W9 on file. We highly recommend requesting W9s from new vendors before processing payments. For more information on who may require a W9, please check our podcast on 1099s (LINK).
Double-Check Payroll Amounts - If you have made payroll changes for 2025, please have your staff team double-check their paystubs. It’s best to identify any payroll discrepancies early in the year. Ensure that the amounts match what your Finance Team has approved and that all allowances, deductions, and contributions are current.
Employee Workforce Access - At this time of year, we often receive many requests for W-2s. Did you know that anyone who processes payroll with ChurchBiz has access to their paystubs and W-2 forms at any time? This feature is available through Intuit’s Employee Workforce, allowing employees to manage their information, including updating their W-4 and direct deposit details.
Communicate With Your Congregation - The start of a new year is an excellent opportunity to communicate with your church. We recommend sharing summary-level financials for 2024 and a summary-level budget with your congregation. It’s also good practice to communicate monthly budget needs and provide updates on giving.
FOR CHURCH FINANCE TEAMS
2024 Giving Statements - Don't forget to send out your 2024 giving statements to donors in your church. ChurchBiz typically does not handle donor statements, but we can assist with most giving systems (for an additional fee) if you let us know you need this service.
Get Us Your 2025 Budget - Hopefully, you have already completed your budget for 2025. If so, please ensure you send it to your ChurchBiz client service representative (CSR) so they can include it in your Budget vs. Actuals report.
Understand Your Financials - Everyone on the finance team needs to review and understand the monthly financials. If you have any questions or need a change in report formatting, please consult your CSR for assistance.
Detailed Financials Review - Ensure at least one member of your finance team reviews the financials at a detailed level. This is especially important at the start of the year to verify that new budget categories are being utilized correctly and that everything is syncing properly.
Finance Team Roles - The beginning of the year is a great time to review the various roles on your finance team. Each church will have different needs, but consider roles and responsibilities such as Finance Team Leader, Offering Counters, Compensation Team, Communication Team, and Donor Management, among others.
Finance Team Policies and Procedures - It’s beneficial for your finance team to review their policies and procedures early in the year. This is also a good topic to discuss with your staff.
We hope this list helps remind you of important church finance areas to consider and gives you some best practices as we begin 2025. If your church finance admin and oversight team could use additional equipping and resources in these areas, consider enrolling in our Finance Team 101 course. This course is designed to equip finance teams, administrators, and executive pastors for wise and faithful stewardship. Right now, we have a discount code that allows each person to take the course for only $20 in 2025 (use code 2025).