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Finance Only Unit

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

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Finance Only Unit

#1Postby wrigjef » Thu Mar 15, 2012 5:01 am

A second mls account was set up for our stake to handle funds for a regional YW camp facility. All the stakes participating won't necessaryily be using the site at the same time but since it is physically in our boundries, our stake is going to handle funds by accepting checks from all of the 20+ stakes involved then turn around and issue bigger checks to the facility. The financial department gave me instructions to add a unit to our mls and now on the log in page we have a choice to log in the stake mls or the camp mls they also sent the President deposit slips, endorsement stamp and checks for the new unit (I personally think it would have been easier to run funds through a AMFA category but I guess they wanted stakes to have the ability to make out checks to a Camp Unit as opposed to our stake). Last night I got into it a bit more and see that the new finance only camp unit has two categories that I can deposit into and presumably write checks from, AMFA & "Cleared Funds". I'm just wondering which one of these I should be using when depositing checks? Does anyone have any insight on this?
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#2Postby ajames » Thu Mar 15, 2012 7:48 am

Though I don't have any inside information this, to me it would seem that I'd only use the AMFA account(s) - though I can't imagine what would go into the "cleared funds" account.

I hope you find the solution to this, since I noticed I'm sending your camp a check in the next week :)
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#3Postby wrigjef » Thu Mar 15, 2012 12:30 pm

ajames wrote:I hope you find the solution to this, since I noticed I'm sending your camp a check in the next week :)


No matter which category I end up putting it in, it will be tracked properly as long as it is made out to "Snyder YW Camp" as opposed to our stake.
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#4Postby wellingMS » Thu Mar 15, 2012 1:32 pm

Use the AMFA category for depositing and writing checks from.
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