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Donations and bank deposits (UK)

This article sets out the requirements and some common problems relating to donations and bank deposits in the UK & Ireland.[1]

Procedure

The bank deposit book must be checked with MLS and the details verified to ensure it has been correctly completed. Comply with the companionship principle, two people always working together, one never left alone, and each verifies the others work so that mistakes can be found before the donation process is completed and the deposit taken to the bank. If the totals between the MLS and the bank deposit slip do not match then start again. It is not acceptable to complete the processes if the totals do not match. It will take far longer to resolve a problem later than it is to resolve it then and there.

Ensure that the correct deposit slip number has been entered in the MLS Authorize screen in the Reference number field (this is another minor irritation for the admin office if/when units do not get it right). Once the number has been entered, and the batch has been authorised, it is impossible for it to be changed. Since MLS version 3.0 this field has been moved up the screen so that it now appears before the Prepared By fields and it is hoped that this will be a better prompt for everyone to get it completed correctly.

Remember deposits must be taken to the bank by two people, it is assumed that they will be Melchizedek Priesthood holders, and that the deposit is made on a Sunday, but in some cases may be a Monday. Please talk to the Local Unit Area Auditor Trainer (LUAAT) for clarification if you need it. Stamped and signed deposit slips (or counterfoils for UK units) should be retrieved from the bank and retained for auditing purposes.

Banking exceptions

Starting from July 1, 2009 the UK & Ireland administrative office have put in place checks to follow-up on cases where donation batches reported in MLS do not match with bank deposits. If under/over bankings are not resolved within 16 days from the Sunday they are reported in MLS, the office will begin to notify unit leaders that there is a potential problem. In the first instance they will attempt to contact the bishop or branch president of the unit concerned. If a unit receives a communication from the administrative office concerning funds not deposited, or a difference between the unit report and the deposit, it is requested that the unit gives it their highest priority.

Further information: Unit Action List - Donations

Common errors when completing the bank deposit slip

The most common errors are made when completing the bank deposit slip.

  • Coins not brought down from the top section to the coins box in the lower half of the form (this is almost certainly an immediate loss).
  • Coins and notes are not added together correctly as Total Cash (another potential loss situation).
  • The deposit slip is incorrectly added up (bank staff do not add up the slip, so if they discover a discrepancy they deduct the amount of the discrepancy, even if the grand total on the slip was correct).
  • The deposit slip is incorrectly completed (not all fields are completed by many units).
  • In Ireland the reverse of the Lodgement slip has not been completed.
  • Cheque details are not entered. Do not just enter the grand total of all the cheques. This is completely unacceptable; each cheque amount should be listed so that it can be identified as an individual item by both the bank and by the unit, and by the auditors. For example, list the name of each donor. Alternatively, list the member number, or the cheque number.
  • All cheques must be made out to the full name of the church, any abbreviation is not correct and the bank have the right to refuse to deposit any cheques that are not made out correctly to the name of the account – The Church of Jesus Christ of Latter-day Saints. Recently more than one bank branch have refused to accept cheques because it was made out to xxxxx Ward.

See also

References

  1. Weekly Finance Reports and Weekly Bank Deposits [September 4, 2009], Andrew Mason, UK & Ireland MSR Supervisor
This page was last modified on 22 April 2011, at 09:51.

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