Donation Made To The Wrong Category

Discuss questions around local unit policies for budgeting, reconciling, etc. This forum should not contain specific financial or membership information.
webmonk
New Member
Posts: 19
Joined: Wed Jan 19, 2011 7:09 pm

Donation Made To The Wrong Category

Postby webmonk » Sun Apr 19, 2015 6:11 am

We have a missionary in the field. We had been adding funds to his account weekly. Recently the mission added an entry for his mobile device. This caused confusion one day and I accidentally deposited funds designated for his general mission category into the mobile device category. What is the proper way to correct this? Transfer the funds from the mobile device category to his general category? Go back into the original donation and make the correction? Another way?

Thanks

eblood66
Senior Member
Posts: 2025
Joined: Mon Sep 24, 2007 8:17 am
Location: Cumming, GA, USA

Re: Donation Made To The Wrong Category

Postby eblood66 » Sun Apr 19, 2015 6:55 am

webmonk wrote:We have a missionary in the field. We had been adding funds to his account weekly. Recently the mission added an entry for his mobile device. This caused confusion one day and I accidentally deposited funds designated for his general mission category into the mobile device category. What is the proper way to correct this? Transfer the funds from the mobile device category to his general category? Go back into the original donation and make the correction? Another way?

Thanks

Go back to the original donation and make the correction. Any other course of action will not make the donation show up as tax deductible on the year end statement.

User avatar
gregwanderson
Senior Member
Posts: 696
Joined: Thu Apr 15, 2010 9:34 pm
Location: Huntsville, UT, USA

Re: Donation Made To The Wrong Category

Postby gregwanderson » Sun Apr 19, 2015 6:57 am

I believe the best way to correct the record is to correct the original donations and place them in the right category. It takes a bit more time than creating one transfer to put the funds in the right place but, in the long run, it will make it easier to know the real intent of those donations.

eblood66
Senior Member
Posts: 2025
Joined: Mon Sep 24, 2007 8:17 am
Location: Cumming, GA, USA

Re: Donation Made To The Wrong Category

Postby eblood66 » Sun Apr 19, 2015 7:11 am

mrrad wrote:I believe the best way to correct the record is to correct the original donations and place them in the right category. It takes a bit more time than creating one transfer to put the funds in the right place but, in the long run, it will make it easier to know the real intent of those donations.

It's more important than just that because the mobile device category is not tax deductible but the normal ward missionary category is. To make sure the donation shows up as tax deductible on the year end statement the donation category must be corrected.

User avatar
gregwanderson
Senior Member
Posts: 696
Joined: Thu Apr 15, 2010 9:34 pm
Location: Huntsville, UT, USA

Re: Donation Made To The Wrong Category

Postby gregwanderson » Sun Apr 19, 2015 2:33 pm

Well, then, as a general rule I believe that correcting the original donation record(s) is the best solution to all situations like this. In this case, that would solve the tax question as well.


Return to “Local Unit Finance”

Who is online

Users browsing this forum: No registered users and 1 guest