Adjusting balance in Other Category
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Adjusting balance in Other Category
Several months ago we transferred funds from an Other category to create an initial account for a newly created ward in our stake. This was apparently a mistake and now we need to correct this deficit in the Other category from Budget. MLS doesn't seem to allow transferring or re-allocating those funds from Budget to the Other category. There doesn't seem to be much in the way of information on how to correct this other than "you need to fix this". Any ideas on how this is done?
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Re: Adjusting balance in Other Category
Write a check to your ward from the Other category and deposit into the correct account.
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Re: Adjusting balance in Other Category
Right idea, but I think that's the wrong direction. Write a check from "Budget" and deposit into "Other".daveywest wrote:Write a check to your ward from the Other category and deposit into the correct account.
I'm not sure which category of budget I'd write it from. Perhaps allocation?
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Re: Adjusting balance in Other Category
If you sent the funds originally using a check you may be able to just go back and re-categorize the check. But if you used an inter-unit transfer that may not be possible. I don't have experience with that.chillbilly1 wrote:Several months ago we transferred funds from an Other category to create an initial account for a newly created ward in our stake. This was apparently a mistake and now we need to correct this deficit in the Other category from Budget. MLS doesn't seem to allow transferring or re-allocating those funds from Budget to the Other category. There doesn't seem to be much in the way of information on how to correct this other than "you need to fix this". Any ideas on how this is done?
If all else fails, you can write a check from budget and deposit it as a donation in Other. I'd recommend writing up a full explanation of what happened including references to the original transaction as the paperwork for the check for audit purposes.