How to balance other? Please help!

Discuss questions around local unit policies for budgeting, reconciling, etc. This forum should not contain specific financial or membership information.
bajagp-p40
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How to balance other? Please help!

Postby bajagp-p40 » Fri Dec 17, 2010 9:32 pm

I received my first couple financial statements, and they indicate that my other accounts have a negative balance and that I need to fix that. That means I need to transfer funds from the budget to the other account. However, when I go to transfer funds, there are no other accounts to transfer to! My stake clerk said I need to create Other:AMFA:xxxx accounts, then transfer funds/balances from my old Other accounts to these new Other:AMFA accounts, and THEN I can transfer money from budget to these AMFA accounts. Does this sound correct?

Maybe I didn't follow steps in the original instructions for transitioning to CUBS. Can anybody please help me out? I do not understand...

RossEvans
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Postby RossEvans » Sat Dec 18, 2010 7:45 am

bajagp wrote:I received my first couple financial statements, and they indicate that my other accounts have a negative balance and that I need to fix that. That means I need to transfer funds from the budget to the other account. However, when I go to transfer funds, there are no other accounts to transfer to! My stake clerk said I need to create Other:AMFA:xxxx accounts, then transfer funds/balances from my old Other accounts to these new Other:AMFA accounts, and THEN I can transfer money from budget to these AMFA accounts. Does this sound correct?

Maybe I didn't follow steps in the original instructions for transitioning to CUBS. Can anybody please help me out? I do not understand...


First you need to determine if the negative balance in Other is real. It might be due to a known bug in the CUBS conversion. You were instructed to print out statements as of Oct. 17, before the conversion. Was the sum of your Other accounts negative then? If not, but the Other accounts were negative immediately after the conversion, that is a symptom of the bug. The fix is supposed to be a remedial data load from Salt Lake, which we have been awaiting for two months now. I suggest that you do this research, and then call Local Unit Support if you have such symptoms.

bajagp-p40
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Postby bajagp-p40 » Sat Dec 18, 2010 8:42 am

The negative balance is real - the negative amount matches the pre-CUBS amount.

Anybody know if i am supposed to create new AMFA subcategories to match the old Other categories and then transfer everything over?

bajagp-p40
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Postby bajagp-p40 » Sat Dec 18, 2010 8:43 am

Also - does anybody have the original instructions (not the additional clarification)? I need to go back and review those to make sure how to transfer the old Other accounts into new ones...

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aebrown
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Postby aebrown » Sat Dec 18, 2010 8:57 am

bajagp wrote:Also - does anybody have the original instructions (not the additional clarification)? I need to go back and review those to make sure how to transfer the old Other accounts into new ones...


These documents are on the wiki at:

Questions that can benefit the larger community should be asked in a public forum, not a private message.

cferguso55
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Postby cferguso55 » Sat Dec 18, 2010 9:07 am

If it is a true deficit and you want to fix it using Budget funds, you will have to write a check from Budget and then deposit it to the Other category that is negative. See this wiki article for instructions.

https://tech.lds.org/wiki/index.php/Other_category#How_to_deal_with_deficits

eblood66
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Postby eblood66 » Sat Dec 18, 2010 9:17 am

bajagp wrote:I received my first couple financial statements, and they indicate that my other accounts have a negative balance and that I need to fix that. That means I need to transfer funds from the budget to the other account. However, when I go to transfer funds, there are no other accounts to transfer to! My stake clerk said I need to create Other:AMFA:xxxx accounts, then transfer funds/balances from my old Other accounts to these new Other:AMFA accounts, and THEN I can transfer money from budget to these AMFA accounts. Does this sound correct?


You can't transfer directly from budget to other. You have to write a check to your unit from the appropriate budget account (or accounts) and then include the check in a donation batch and credit it to the appropriate Other accounts.

See Other category - How to deal with deficits for more information. Dealing with a negative balance in the other category didn't change with CUBS. And there shouldn't be any need to create new AMFA accounts. However, before you deal with the negative balances make sure you've followed all the CUBS instructions (as others have pointed out) and made appropriate transfers between the Other sub-categories to recreate the pre-CUBS balances in each sub-account.

bajagp-p40
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Postby bajagp-p40 » Sun Dec 19, 2010 2:14 pm

I may be mistaken, but I am going into church now to check. I am fairly sure that no Other accounts exist (post CUBS), even though the Financial Statement is telling me that the other account is deficit. If it doesn't exist now, how do I make transfers to it:confused:. This is very confusing...

Additionally, if I need to recreate that Other deficit, then it seems I would need to transfer DOUBLE the deficit back into Other :confused:. I am going into the church now to see if what I remember is correct. If anybody has been in the same boat and knows exactly what I need to do (either just write checks from budget to other or recreate Other deficits first) please make it known. I really want to get this done this week before I take vacation through the end of the year.


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