Transfer function in MLS Finance

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miltnoda
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Transfer function in MLS Finance

Postby miltnoda » Fri Apr 12, 2013 7:51 pm

I'm a fairly new stake clerk, my first calling as a clerk.
I can't figure out what the Transfer function in MLS Finance does. Nothing I've tried goes anywhere and I can't find instructions anywhere. It seems I should be able to transfer funds between units, but I find no way to do that. It won't even make transfers within my stake budget. The advice I got from Global Service Center was to change the original budget allocations for stake budget changes. That works but provides no history of the changes.

russellhltn
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Re: Transfer function in MLS Finance

Postby russellhltn » Fri Apr 12, 2013 9:03 pm

You may want to check out the wiki article Entering and viewing transfers. There are restrictions on what you can transfer between.

If you want to transfer funds between units, you'll have to get the one unit to write a check to the other. The same goes for transferring between categories.
Have you searched the Wiki?
Try using a Google search by adding "site:tech.lds.org/wiki" to the search criteria.

miltnoda
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Re: Transfer function in MLS Finance

Postby miltnoda » Fri Apr 12, 2013 10:28 pm

OK. Thanks for the quick response.

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aebrown
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Re: Transfer function in MLS Finance

Postby aebrown » Sat Apr 13, 2013 5:09 am

miltnoda wrote:It won't even make transfers within my stake budget.

russellhltn wrote:If you want to transfer funds between units, you'll have to get the one unit to write a check to the other. The same goes for transferring between categories.

In the context of the original post, I would note that the comment that you have to write a check "for transferring between categories" is misleading. Although it is true that if a unit wants to transfer funds between major categories (such as from Budget to Other) it will have to write a check to itself (e.g., from Budget) and deposit it in a regular donation batch (e.g., to Other), that is not true for subcategories within a single major category.

The original post mentioned making transfers "within my stake budget." That can most certainly be accomplished using the MLS transfer function. For example, to transfer $200 from the Young Men budget to the Primary budget, you would simply create a $200 transfer with the source being Budget:Young Men and the destination being Budget:Primary.

Now there are pros and cons to making a transfer to adjust the amounts allocated to Budget subcategories, as opposed to simply adjusting the budget numbers using Edit Budget. Making a transfer is considerably more work, but it leaves a transaction record of the change, which is good. On the other hand, a transfer makes some reports somewhat misleading, because it makes a Budget Summary report look like the organizations are still working against the original budget, but that they have just spent more or less that they had before the debit or credit against their subcategory; that might not give the most accurate picture of each organization's percentage of budget expended. But you can choose either way.

Finally, I would note that the advice on how you cannot make transfers between units or between major categories is correct for the US and Canada, and probably many other countries, but is not true for many other countries (such as the UK), where transfers between units or major categories are not only allowed; they are the correct way to make such adjustments (but it is done using a process different from regular MLS Transfers).

davidrobin
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Re: Transfer function in MLS Finance

Postby davidrobin » Sun Jun 29, 2014 6:29 am

Apologies for bringing up this old post but it is relevant to what I currently do.

There are 4 wards in my town. The youth have joint activities and to control expenses my ward is allocated as the manager of funds for the joint activities. Traditionally I have sent transfer requests to GSC each quarter requesting an amount of money from the other 3 wards. Expenses for the joint youth activities are sent to me (signed by the requesters Bishop and my Bishop for full authorisation).
I am keen for the clerks of the other 3 wards to transfer funds rather than me having to complete forms and send to GSC each quarter.

I have read understand the overview for transfers found here

However, I am also very interested in the previous comment as I am in the UK:
Finally, I would note that the advice on how you cannot make transfers between units or between major categories is correct for the US and Canada, and probably many other countries, but is not true for many other countries (such as the UK), where transfers between units or major categories are not only allowed; they are the correct way to make such adjustments (but it is done using a process different from regular MLS Transfers).

Can someone please explain what this different process is.

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Biggles
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Re: Transfer function in MLS Finance

Postby Biggles » Sun Jun 29, 2014 8:10 am

davidrobin wrote:Apologies for bringing up this old post but it is relevant to what I currently do.

There are 4 wards in my town. The youth have joint activities and to control expenses my ward is allocated as the manager of funds for the joint activities. Traditionally I have sent transfer requests to GSC each quarter requesting an amount of money from the other 3 wards. Expenses for the joint youth activities are sent to me (signed by the requesters Bishop and my Bishop for full authorisation).
I am keen for the clerks of the other 3 wards to transfer funds rather than me having to complete forms and send to GSC each quarter.

I have read understand the overview for transfers found here

However, I am also very interested in the previous comment as I am in the UK:
Finally, I would note that the advice on how you cannot make transfers between units or between major categories is correct for the US and Canada, and probably many other countries, but is not true for many other countries (such as the UK), where transfers between units or major categories are not only allowed; they are the correct way to make such adjustments (but it is done using a process different from regular MLS Transfers).

Can someone please explain what this different process is.


With the recent update to MLS to 3.7.1 it might now be possible to do what your asking.

"Release Notes for MLS 3.7.1
Date Released: 13 June 2014

Completed New or Enhanced Functionality

Finance Related:

Added the ability for units to transfer funds to other units within their own stake or district. Transfers can occur only between similar categories and will not allow the unit to overdraft the category balance. Dual authorization is required for any transfers to another unit. Transfers can be initiated only by the sending unit."


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