Other Authorized Member Financed Activities Issue

Discuss questions around local unit policies for budgeting, reconciling, etc. This forum should not contain specific financial or membership information.
gogobot3
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Other Authorized Member Financed Activities Issue

Postby gogobot3 » Sat Apr 08, 2017 8:30 am

Short of cutting checks, is there a way to transfer to/from these categories to flatten them out?

lajackson
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Re: Other Authorized Member Financed Activities Issue

Postby lajackson » Sat Apr 08, 2017 10:48 am

gogobot3 wrote:Short of cutting checks, is there a way to transfer to/from these categories to flatten them out?

Because Other accounts are used for specific purposes, it is unlikely that it would be appropriate to transfer from one Other account to another. If you have excess funds you will be returning them to the donors or sending them to Headquarters. If you do not have enough funds (negative balance) you most likely will be using Budget funds to make up the difference.

The best way to do the latter is to go to the actual expense(s) in the Other account and recategorize it (them) as a Budget expense. This will have the same effect as writing a check from Budget to Other, but is much more simple and still keeps an accurate record of what happened.

russellhltn
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Re: Other Authorized Member Financed Activities Issue

Postby russellhltn » Sat Apr 08, 2017 11:31 am

lajackson wrote:If you do not have enough funds (negative balance) you most likely will be using Budget funds to make up the difference.

The best way to do the latter is to go to the actual expense(s) in the Other account and recategorize it (them) as a Budget expense. This will have the same effect as writing a check from Budget to Other, but is much more simple and still keeps an accurate record of what happened.

I'm under the impression you can recatogorize a check so that it pulls from two different accounts. For example, if the check is for $100, but the "Other" only has $80 in it, you can set it so that you use the $80 and make up the rest with Budget.
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Try using a Google search by adding "site:tech.lds.org/wiki" to the search criteria.

lajackson
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Re: Other Authorized Member Financed Activities Issue

Postby lajackson » Sun Apr 09, 2017 5:06 pm

russellhltn wrote:I'm under the impression you can recatogorize a check so that it pulls from two different accounts. For example, if the check is for $100, but the "Other" only has $80 in it, you can set it so that you use the $80 and make up the rest with Budget.

Correct. That is exactly how to do it.


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