MLS financial cleanup
It is helpful to clean up information in MLS periodically. Some cleanup needs to be performed before year end, because MLS will not allow some information to be deleted until it has been unused for the entire record retention period.
Before year end
- Zero out any Other subcategories that are no longer needed by making appropriate transfers between categories, or by remitting surplus funds to Church headquarters
- Zero out any Ward Missionary subcategories for missionaries that have returned by transferring funds between missionary-specific subcategories and the parent Ward Missionary category.
- Contact payees of any old (more than 3 months or so) outstanding checks to avoid the escheating process
- Review the previous Financial Audit to make sure you have corrected exceptions and that you are ready in every way for the upcoming audit
After year end
- Complete the MLS process for closing the fiscal year
- Inactivate any subcategories of Budget, Other or Ward Missionary that are no longer needed
- For any donors or payees who will never be used again (e.g., moved from the ward), set their status to Hidden
- Enter new amounts for budgets (see Budget Allowance Accounting for guidance)
- Review the December Unit Financial statement and take care of any action items
- Follow the Record retention policy for your unit