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Budget and Transfers

Posted: Tue Dec 13, 2011 2:17 pm
by nck25
Hey all

So, we are having difficulty making the budget report make sense. As we transferred the LUBA over to the various activities, it just adds this to the budget allocation which means the balance is double the actual money we get. How do you make the budget report accurately reflect the actual amount of budget available?

Additionally, do items we purchase off LDS stores come up automatically, or must I record them manually also?

Thanks in advance.

Posted: Tue Dec 13, 2011 2:25 pm
by aebrown
nck25 wrote:So, we are having difficulty making the budget report make sense. As we transferred the LUBA over to the various activities, it just adds this to the budget allocation which means the balance is double the actual money we get. How do you make the budget report accurately reflect the actual amount of budget available?


For the Budget category, do not make transfers (it was never a good idea, and we just received an MLS message that said that this will be impossible after Dec 16 anyway). Quarterly automatic allocations will automatically be put in the Budget:Budget Allocations category, and if you get any checks from your stake, make sure that they are deposited into Budget:Budget Allocations.

The next step is to set your budget for each subcategory of the Budget category for the year by using the Edit Budget feature. Then just write checks from the appropriate Budget subcategories throughout the year. Then the Budget report will show for each subcategory the annual budget as set in the Edit Budget screen, and all expenses against that budget.

nck25 wrote:Additionally, do items we purchase off LDS stores come up automatically, or must I record them manually also?


Yes, items purchased through Distribution Services (store.lds.org) will cause charges to be transmitted automatically to your MLS. They will initially be in the Budget: Distribution Center category, but you can edit those expenses and change the category if you'd like to charge it to Budget:Young Women or Budget:Primary or some other category you choose.

Posted: Tue Dec 13, 2011 2:31 pm
by johnshaw
You might do well to read through the Local Unit Budget Instructions sent to units Feb, 2011... I'm attaching it.

Local Unit Budget Instructions - 2011.pdf
(490.46 KiB) Downloaded 625 times

Posted: Tue Dec 13, 2011 4:14 pm
by crislapi