Search found 86 matches

by daveywest
Sun Sep 23, 2018 12:54 pm
Forum: Local Unit Finance
Topic: How to Authorize Assistant Clerk to Make LDS Store Purchases
Replies: 10
Views: 527

Re: How to Authorize Assistant Clerk to Make LDS Store Purchases

The OP doesn't say what type of clerk his assistant is, but following GAAP (i.e. standard US accounting principles), the clerk paying the bills usually cannot place orders. This separation of duties prevents a single individual from placing an order and being the same person who reviews and reconcil...
by daveywest
Thu Aug 09, 2018 12:31 pm
Forum: Local Unit Finance
Topic: Fast Offerings used to pay deposit
Replies: 2
Views: 288

Fast Offerings used to pay deposit

Preparing for an upcoming audit, I preselected expenses to test. One expense noted the payment was a utility deposit. I believe I've seen something in the past that says FO payments should not be made for deposits. Besides the guidelines in HB1 5.2.3 and 5.2.4, can anyone point me to a policy statem...
by daveywest
Thu Aug 09, 2018 9:57 am
Forum: Local Unit Finance
Topic: LUFAS: object [object] OK
Replies: 15
Views: 414

Re: LUFAS: object [object] OK

Glad I'm not the only one. Thanks for sharing the updates.
by daveywest
Thu Aug 27, 2015 3:55 pm
Forum: Local Unit Finance
Topic: Making Fast Offering Donations to another unit
Replies: 10
Views: 1024

Re: Making Fast Offering Donations to another unit

Tax deductible donations like Fast Offerings cannot be directed to a specific person. It's also inappropriate to use church accounts to anonymize a charitable gift. There is no actual rule about FO income exceeding expenditures, however that ratio can be a useful tool for local leaders on ward and s...
by daveywest
Thu Aug 27, 2015 3:47 pm
Forum: Local Unit Finance
Topic: Income not showing on Budget Report
Replies: 5
Views: 883

Re: Income not showing on Budget Report

As a stake clerk with over 5 years experience, I'd like to suggest how to appropriately handle accounting for activities funded from mixed sources. If the event is to be completely funded from budget allotments, use the appropriate auxiliary budget category (or sub-category for larger events like ca...
by daveywest
Sun Mar 01, 2015 12:34 pm
Forum: Local Unit Finance
Topic: Creating missionary specific mission fund
Replies: 8
Views: 1512

Re: Creating missionary specific mission fund

The named missionary account, is normally created around the time they enter the MTC. Once the account is there, you can use the Transfer option (in MLS) to transfer the already donated funds from the Ward Mission Fund to the named missionary's account. Rather than transfer the funds to the newly a...
by daveywest
Thu Jan 29, 2015 1:02 am
Forum: Local Unit Finance
Topic: Unspecified Other AMFA suddenly goes negative?
Replies: 1
Views: 1222

Re: Unspecified Other AMFA suddenly goes negative?

I would call MLS support on this one. There were some bugs closing out the year, and they may be able to help you resolve it quicker than anyone here on this forum.
by daveywest
Sun Jan 11, 2015 1:37 pm
Forum: Local Unit Finance
Topic: Moneygram made out to the Bishop
Replies: 2
Views: 788

Re: Moneygram made out to the Bishop

I would have the bishop endorse it by signing, then the words Pay To The Order of [your unit], then stamp it with your normal endorsment stamp.
by daveywest
Sun Jan 11, 2015 1:30 pm
Forum: Local Unit Finance
Topic: FO expense without FO recipient exists - four years ago
Replies: 3
Views: 808

Re: FO expense without FO recipient exists - four years ago

I spoke with MLS support about this issue in my stake. It is a bug that will be corrected in a software update later this month.
by daveywest
Sun Dec 21, 2014 11:35 am
Forum: Local Unit Finance
Topic: Tithing donations
Replies: 2
Views: 643

Re: Tithing donations

The finance training discourages the use of "Anonymous" donations. Rather, it encourages the use of "Unknown." It's a subtle, but important difference. Unknown implies we are still seeking to identify the donor. MrRad is correct that the donation should be deposited immediately e...

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