Transferring funds within other acct

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Transferring funds within other acct

Postby dannerj » Mon Jul 29, 2013 10:34 pm

We use to be able to transfer dollars from one "other acct sub category" to another and then customize the date for the transfer to have occurred on. Every few months we like to transfer earned interest that accumulates in the the "general authorized member financed activity" to the "girls camp category". As we prepare for audit season, we want to show zero amount in the general category, so I transferred it this past Sunday (7/28)and set the date for June 30, 2013. I then clicked save and closed it. I then generated a report of the "other acct" with its subcategories to see the new balances. I customized the report date to 30 June, 2013.....

The transfer won't show as occurring on 30 June. If I do Current Year, then it shows the transfers. Has the back dating option of transfers been removed from MLS 3.6?

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Re: Transferring funds within other acct

Postby jdlessley » Mon Jul 29, 2013 11:41 pm

Transfer transactions can be back dated. But it does no good to back date. It is not the transaction date but rather the posting date that is reflected on reports. This was an important change made in MLS 3.4.1 in September 2011. So if you enter a transfer on 15 July but assigned a date of 30 June for the transaction, the actual posting date would be some date after 14 July. Most likely it would be 15 July. It is the posting date of the transaction, or 15 July for this example, that appears on reports.
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Have you tried finding your answer on the Help Center page or the LDSTech wiki?

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Re: Transferring funds within other acct

Postby allenjpl » Tue Jul 30, 2013 10:11 am

Your desire to show a zero balance in the parent Other:AMFA category is admirable, but unnecessary. Question 23 on the new audit forms specifically excludes interest income from being an exception:

23. Do the funds in the “Other” category from MLS have subcategories?
If any amounts in the MLS Income and Expense Summary by Subcategory report, other than interest income, are not identified for a particular purpose, mark “No."

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