Balance forward column

Discuss questions around local unit policies for budgeting, reconciling, etc. This forum should not contain specific financial or membership information.
blairjames
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Balance forward column

Postby blairjames » Sun Sep 27, 2009 8:48 pm

With regard to the Ward budget allocation report, I find a Balance Forward column that has zero's for each budget category. Now that I think I have most other things under control, I can't help wondering how this little vacant area comes into play with the grand scheme of things. If the training deals with it, then I guess I didn't absorb it yet. Would appreciate help in this area.
Thanks in advance--Blairjames

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aebrown
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Postby aebrown » Sun Sep 27, 2009 9:06 pm

blairjames wrote:With regard to the Ward budget allocation report, I find a Balance Forward column that has zero's for each budget category. Now that I think I have most other things under control, I can't help wondering how this little vacant area comes into play with the grand scheme of things. If the training deals with it, then I guess I didn't absorb it yet. Would appreciate help in this area.


For wards in the US/Canada, the Balance Forward column of the Budget Report really means nothing -- it should always be 0. But in some other countries, the Budget category is treated differently (more like the Ward Missionary or Other category).

So since you are in the US, I would simply advise you to ignore it and not worry about it. Yes, it will always be 0, but the arithmetic will always work out (add up the first 5 columns and the total will be equal the Balance column), so all is well.

EDIT: The above is correct only for date ranges that start on January 1. See my correction.

blairjames
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Balance forward

Postby blairjames » Sun Sep 27, 2009 9:16 pm

Would I be brave enough to assume that the "budget" category line across that also doesn't seem used, fit into the same answer as the Balance forward answer you gave. Probably should be a new thread, sorry.

thank you so much
Blairjames

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aebrown
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Postby aebrown » Sun Sep 27, 2009 9:28 pm

blairjames wrote:Would I be brave enough to assume that the "budget" category line across that also doesn't seem used, fit into the same answer as the Balance forward answer you gave. Probably should be a new thread, sorry.


The parent Budget category may have some use in other countries, but I don't really know any details. It seems like it would always be good practice to use subcategories; indeed, now MLS doesn't even allow you to create expenses from the parent Budget category.

But for the most part, the parent Budget category should just be a row of zeroes on the Budget Report. It's probably there because it is possible for transactions to exist in that category, even if it is not good practice.

blairjames
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Location: Idaho USA

Balance forward column

Postby blairjames » Sun Sep 27, 2009 9:52 pm

You are the Best.:D:D:D:D I want to Thank you and all of you for the hundreds of hours of your expertise and time. I bet I speak for everyone with a greatful heart. And whoever dreamed up this help forum thing, sure was inspired. I sure love the Gospel.
Blairjames

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aebrown
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Postby aebrown » Sun Sep 27, 2009 11:05 pm

blairjames wrote:With regard to the Ward budget allocation report, I find a Balance Forward column that has zero's for each budget category. Now that I think I have most other things under control, I can't help wondering how this little vacant area comes into play with the grand scheme of things. If the training deals with it, then I guess I didn't absorb it yet. Would appreciate help in this area.


My previous answer was too hasty, and was only accurate for a report which starts at the beginning of a year.

However, the Budget Report can cover any period of time. The Date Range dropdown can easily select "Current Month" or "Previous Month" as well as a "Custom" date range that can start at any point in the year.

For each of these choices, the report may well begin at a date other than January 1, and in that case, the Balance Forward column will represent the sum of the donations, expenses, and transfers from the beginning of the year to the starting date of the date range. In that case, the Balance Forward is quite likely to be some value other than 0.

blairjames
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Posts: 21
Joined: Sun Aug 16, 2009 6:40 pm
Location: Idaho USA

Balance Forward Column

Postby blairjames » Mon Sep 28, 2009 4:01 pm

Thanks for the update. I see how that can work.
Blairjames


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