Expense Report/Bishop's Review

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brown67
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Expense Report/Bishop's Review

Postby brown67 » Sun May 12, 2019 1:11 pm

Just did a check from LCR. No expense report was available to print like you would do from MLS. Does the Bishop's review take the place of the expense report in LCR?

davidpeters
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Re: Expense Report/Bishop's Review

Postby davidpeters » Sun May 12, 2019 1:38 pm

Bishop now does this approval electronically in LCR. He gets an email telling him to go in and approve.

ethancro
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Re: Expense Report/Bishop's Review

Postby ethancro » Sun Jul 21, 2019 12:05 pm

So what paper copy needs to be kept? The expense report printed from MLS was signed by the Bishop and Clerk. This paper was kept for 3 years.

jdlessley
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Re: Expense Report/Bishop's Review

Postby jdlessley » Sun Jul 21, 2019 10:39 pm

ethancro wrote:So what paper copy needs to be kept? The expense report printed from MLS was signed by the Bishop and Clerk. This paper was kept for 3 years.

Any paperwork used in processing an expense reimbursement request and not converted to an electronic file and not attached to the electronic expense record needs to be saved for the appropriate retention period for your area (3 years in the U.S.). For example, a paper reimbursement request document submitted but not converted to an electronic file and attached to the expense record will need to be annotated with the expense record number and saved. If paper receipts were submitted and not converted and attached to the expense record will need to be annotated with the expense record number and saved. If paper checks are printed, then the check stub needs to be saved.

I have found it is much easier to convert submitted paper documents to files and attach to the expense record rather than to annotate the paper documents with the electronic expense record number and file. Every thing an auditor needs to complete the expense portion of an audit are available at any time by the auditor and can be done before visiting the unit when all expense documents are converted and attached to the expense record. I suspect the auditor may not need to view check stubs except in some rare circumstances.

With the current electronic expense record there is no need for the old expense report since all the information necessary for audit tracking is found in the electronic expense record. The bishop signature on the old expense report is now electronically recorded in the expense record when the bishop does the bishop review.
JD Lessley
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