Church Bookkeeping Checklist
What Should Be Happening Weekly, Monthly, and Annually?
When I talk to pastors, they often comment that they didn’t become a pastor to handle their church’s bookkeeping. Yet somehow this task takes up more time and causes more stress than any other. The treasurer or finance committee, as dedicated as they are, may not always know whether the right things are being done at the right time with the church's finances.
The good news is that you don't need to understand bookkeeping to know whether it's being done right. You just need to know what to ask.
So let’s make a checklist!
Yes, I’m well aware that I fall into the stereotypical bookkeeper box. But a good checklist is so useful! (My kids call me a nerd… but I call it organization).
Whether your books are handled by a volunteer, a part-time staff member, or an outside bookkeeper, this list can act as an oversight tool. You, your treasurer, or anyone in financial leadership can use this guide to confirm that work that should be done, is being done.
WEEKLY TASKS
o Record Money In
Task: Donations are entered in weekly, recording who gave what amount, to which fund.
Ask this: Can your bookkeeper print an accurate summary of what was received, by fund, for any given week or month?
o Record Money Out
Task: Every expense should be entered with a supporting document like an invoice, receipt, or bill attached.
Ask this: Pick any line on your bank statement and ask your bookkeeper to produce the bill that matches it.
MONTHLY TASKS
o Bank and Credit Card Reconciliation
Task: Reconciliations are where QuickBooks records are compared line-by-line against your bank statement. It should be completed every month. The bank statement is always the source of truth. This is how the bookkeeper confirms that all the information that occurred in the bank has been captured in the books.
Ask this: Look at both the bank statement and the reconciliation report side by side. You don't need to fully understand it but just having to show someone encourages accountability, and that alone reduces the risk of fraud.
o Board Reports
Task: Your board needs two things every month: a Profit & Loss (money in and money out) and a Balance Sheet (a snapshot of all accounts, assets, and liabilities). Without these, financial decisions are being made on instinct rather than information. Pastors and boards can't make good decisions without good information.
Ask this: Do these numbers feel right? Does the bank balance match what you expected? Did you really spend that much on March Break camp and what’s in that office supply line? Your gut is a powerful first filter.
o CRA Payroll Remittance
Task: If your church has paid staff, payroll remittances are due to CRA by the 15th of each month. They can be paid through online banking or by cheque.
Ask this: CRA sends a monthly balance summary that takes less than a minute to review. Confirm the payment shows up.
SEMI-ANNUAL
o Public Service Bodies (PSB) HST Rebate
Task: Every six months, your church can file a PSB rebate to recover a portion of the HST you've paid. This is optional, but it's essentially free money, so it's worth doing. Filing periods cover January–June and July–December. Full instructions are available on the CRA website.
Ask this: Is this being filed?
ANNUALLY
o Prepare Your Annual Budget
Task: Budgets should be drafted a few months before your new fiscal year begins. It can feel like a burden, but it's really an opportunity to think strategically about the year ahead. It’s a ministry plan with numbers.
Ask this: Do we have a budget? When should we book a meeting to begin this process?
o Year-End Financial Statements
Task: Before closing the books on a year, prepare a year-end income statement and balance sheet. These give your board a complete picture of where the church stands and feed directly into the budget process for the year ahead.
Ask this: Do the numbers reflect what actually happened this year? Did we really spend that much on office supplies? Which giving months were highest and why? Bookkeepers like questions, it shows you are interested in their work, that it matters.
o T4 Slips
Task: If your church has employees, T4 slips summarizing payroll and deductions must be submitted to CRA by February 28th.
Tip: This is a bit of a process, consider using a payroll service like Wagepoint or Dayforce. It’s relatively inexpensive but it saves so many headaches. To do T4’s manually, find CRA instructions here.
o Charitable Donation Receipts
Task: Issue official donation receipts to every donor so they can claim the amount given to the church on their tax return.
Tip: Receipts must meet CRA's specific requirements and should be completed by February 28th. A donation program, like Planning Center Giving, can make this a lot easier. If doing it manually find See CRA's sample receipts here.
o T3010 Registered Charity Information Return
Task: This is the big one. The T3010 is your church's annual information return to CRA, and missing it means risking your charitable status which is very difficult to get back.
Tip: The T3010 is due within six months of your fiscal year-end. If your year end is December 31st, that means June 30th. This is just information. Don’t be intimidated by it. You can use your churches annual statements and fill the form out online or print it and mail it to CRA. CRA instructions here.
Signs Your Church May Need Professional Help
Even well-intentioned bookkeepers and volunteers can struggle with church bookkeeping. Churches are unique, not like other organizations. Here are a few signs worth paying attention to:
Your board is making decisions without reliable monthly financials
Your T3010 caused a board meeting that shouldn't have happened
The PSB rebate has never been filed
You’re uncertain if the clergy housing deduction is being handled properly
You're unsure whether your donation receipts meet CRA requirements
You've experienced staff or volunteer turnover and lost the institutional knowledge of how your finances work
If any of these feel familiar, it might be time for a different approach.
We Work Exclusively with Canadian Churches
At Bookkeeping Solutions, we specialize in bookkeeping for churches and faith-based ministries across Canada. We understand fund accounting, the T3010, PSB rebates, and the unique financial world of churches.
If your church is ready to hand off the books to someone who truly understands that world, we'd love to talk.
Visit us at www.mybookkeepingsolution.ca to learn more and book a call.
If you would like a handy printable Church Bookkeeping List, you can download here.