MLS / How to transfer from "other" category into "budget"

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Levasa
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MLS / How to transfer from "other" category into "budget"

Postby Levasa » Thu Mar 31, 2016 10:30 am

Hi Brethren,

Hope everyone is well and good.

Just need a little bit of help. I'm pretty sure this has been answered before but I can't seem to find the post.

Could anyone tell me please, on MLS, how to transfer money that is still sitting in the "other" categories into the ward budget? To explain, when stake asked to transfer money owing for FSY for example I transferred money straight from ward budget to stake instead of from category>other: FSY.

Many thanks in advance.
Rod :)

russellhltn
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Re: MLS / How to transfer from "other" category into "budget"

Postby russellhltn » Thu Mar 31, 2016 10:34 am

Levasa wrote:To explain, when stake asked to transfer money owing for FSY for example I transferred money straight from ward budget to stake instead of from category>other: FSY.

I'd look at re-categorizing the transfer.
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falcon771
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Re: MLS / How to transfer from "other" category into "budget"

Postby falcon771 » Wed Apr 27, 2016 7:21 am

I think the only way to get money out of Other and into Budget, is to write a check from the Other account. Receive it into Budget with the next batch.

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gregwanderson
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Re: MLS / How to transfer from "other" category into "budget"

Postby gregwanderson » Wed Apr 27, 2016 9:58 am

I'd wonder about how the money ended up in the "Other" category to begin with. Should it have been originally deposited into a budget category? (Forgive me but I'm a little frustrated by all the unexplained acronyms in the church, so I had to look up "FSY" to discover it means "For the Strength of Youth" Confrences, right?) Normally, we don't make deposits into "Budget" categories.

So, is it possible to go back and correct the original deposit(s) to go into "Budget" instead of "Other"? Is it possible to correct the expenses that were taken from "Budget" for FSY and change them to "Other:FSY"? It seems like the cleanest way to fix this is to just correct the past income and the expense records in order to clear out the "Other:FSY" category, rather than create transfers. This should be possible, unless the things which need correction happened too far in the past.

The best use of "Other" is, of course, to collect money for a specific purpose and then use it all up for that specific purpose. Was that the way it should have worked in this case? Is it too late to correct the records so that, on paper, this is exactly what happened?

russellhltn
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Re: MLS / How to transfer from "other" category into "budget"

Postby russellhltn » Wed Apr 27, 2016 10:02 am

Just keep in mind that transferring "other" to "budget" is a red-flag to a auditor as using fund-raising or other donations to extend the budget is prohibited. That's why I say it's better to re-categorizing or split the expenses. If you do transfer "other" to "budget", I sure hope that there's a equal or larger transfer from "budget" to "other" or you could be in for a long audit and possible exceptions.

If this is left over money, then I'd suggest holding on to it for next year. Otherwise, you'll have to refund it or send it to CHQ. Rolling it into budget is a no-no.
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