To provide a uniform method of accounting for the resources entrusted to the parish, the Diocese endorses and supports the following accounting systems: the manual bookkeeping method, Quick Books and PDS Ledgers Software system. These methods will:
- Enable the parish to classify financial transactions consistently. This will in turn provide the parish with comparative financial reports, which can be used to monitor and evaluate the present, review the past, and plan for the future.
- Provide a uniform method of accounting and reporting throughout the Diocese.
- Provide for continuity in the event of a change in the pastor.
These systems assume that the person doing the bookkeeping for the parish understands the basic accounting principles, including double-entry bookkeeping. That is, all entries consist of debits to some accounts and credits to other accounts, and the total of all the debits equals the total of all the credits.
In general, the Diocese recommends that parishes use a “cash basis” accounting system as opposed to the accrual method. That is, income is recorded when it is received, and expenses are recorded when payments are made. However, if a parish has the expertise, the accrual method is acceptable.
For more information please refer to the Diocesan Chart of Accounts.