Reconcile "Other" Account

Discuss questions around local unit policies for budgeting, reconciling, etc. This forum should not contain specific financial or membership information.
eallred-p40
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Location: Litchfield Park, Arizona

Reconcile "Other" Account

Postby eallred-p40 » Sun May 17, 2009 10:43 am

We are receiving checks from individuals for Girls' Camp. They are posting to "Other". How can we see the balance for this account?

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Mikerowaved
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Location: Layton, UT

Postby Mikerowaved » Sun May 17, 2009 12:08 pm

Welcome to the forum! Hopefully the funds gathered were placed in a sub-category created for that specific purpose in Other. The Other category can be viewed in MLS by selecting Finance --> Finance Reports --> Income and Expense Report. The sub-categories can be seen by selecting "Summary by Sub-Category" in the "Report" pull-down.

I found the Record-Keeping and Auditing Training lessons to be invaluable in my clerk calling. Under "Keeping Financial Records", they have a great one called "Understanding and Using the 'Other' Category". I highly recommend going through it.
So we can better help you, please edit your Profile to include your general location.

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aebrown
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Location: Sandy, Utah

Postby aebrown » Sun May 17, 2009 1:56 pm

eallred wrote:We are receiving checks from individuals for Girls' Camp. They are posting to "Other". How can we see the balance for this account?


Hopefully you have created a sub-category of Other such as "Other:Girls Camp" that you deposit all these checks into (and from which you will write checks for related expenses). That is the key to tracking pass-through accounts such as this.

And I would certainly second Mikerowaved's suggestion to review the training on this topic. The training will cover the topic of sub-categories.

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calebpusey
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Postby calebpusey » Tue May 19, 2009 9:57 am

You might also want to check out this page:

https://tech.lds.org/wiki/index.php/Reconciliation

Welcome!
Caleb


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