Tomorrow, each Friday, we will be recording a podcast covering the LMF Financials.
IF you have a question you want to make sure we answer, please comment BEFORE our meeting time https://the-praise-report.com/pc/ and we will try to include it in our meeting OR we will follow up with a Q&A podcast.
OUR NOTES:
https://the-praise-report.com/pc/ at the bottom
If your name is listed on RMI as a LMF, then YOU will also have primary control over your ministry's finances.
If your ministry is larger, ESP and PTG, then you have your own PayPal account, which means each month (about the 10th of the month), we will download your statement and add it to a Drive folder.
What our Husband led us to discover is an extremely helpful Cloud Converter we've used successfully because it's so each AND it integrates well with the Google platform, and it will create a spreadsheet to work from.
https://cloudconvert.com/pdf-to-xlsx
*Just be sure it's set to XLSX so it quickly uploads to the same folder where we will share the PayPal pdf.
Once converted, it's easy to extract the profit for the month, and total it with any other income source (ESP you receive from BOA Zelle) to get the full income.
Then YOU will be able to determine the tithe amount to deduct for RMI and the offering that is given to the Seed account for all the sponsored ministries.
This same spreadsheet will be where you will add each of your TEAM member's invoice amounts for the Accountant to pay on your behalf.