Financial Statements

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

jshawut wrote:Can you add a statement for a fast offering check that is voided. I recently had this situation and when doing the CUFS that showed a difference between how a FO voided check is a bit different. I had to go into transfers and mark the FO check voided as cleared. I don't have to do that with other checks, only FO. CHQ said it's not common, but that was the answer.
Since I'm a stake financial clerk, I have never seen a voided FO check. But I know of at least one ward in our stake that has had that situation. It will take a few days, but I'll consult with them to see how that looks on the CUFS and on the reconciliation, and then update the wiki article.

Thanks for the suggestion.
thesmith7-p40
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Post by thesmith7-p40 »

jshawut wrote:Alan,

Can you add a statement for a fast offering check that is voided. I recently had this situation and when doing the CUFS that showed a difference between how a FO voided check is a bit different. I had to go into transfers and mark the FO check voided as cleared. I don't have to do that with other checks, only FO. CHQ said it's not common, but that was the answer.

I had to do the same for a non FO check when I reconcilled the December statement.
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aebrown
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Post by aebrown »

thesmith7 wrote:I had to do the same for a non FO check when I reconcilled the December statement.
It is required for Budget and FO checks, because they are automatically reimbursed. MLS creates an automatic transfer for every expense in Budget and FO.

During reconciliation, checking off a check as cleared on the Expenses tab will normally automatically check off the corresponding transfer on the Transfers tab. But when you are dealing with a voided check during reconciliation, the corresponding transfer must be manually checked off. That is easily overlooked.
SmithGW
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Financial statements

Post by SmithGW »

kmalone originally said:

I would love to start a thread starting from the top of a ward financial statement and discussing how it flows.
There is an explanation of the Church Unit Financial Statement and its sections in the clerk lesson "Reconciling the Church Unit Financial Statement." An updated version of this is on LDS.org > Serving in the Church > Mechizedek Priesthood > Record-Keeping and Auditing Training. It's a good place to start.
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aebrown
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Post by aebrown »

smithgw wrote:There is an explanation of the Church Unit Financial Statement and its sections in the clerk lesson "Reconciling the Church Unit Financial Statement." An updated version of this is on LDS.org > Serving in the Church > Mechizedek Priesthood > Record-Keeping and Auditing Training. It's a good place to start.

Yes, but it's only a start. It gives only a cursory overview of some sections, and doesn't even discuss several important issues. So by all means, every financial clerk should start there, but there's a lot more to learn, so I think the question is appropriate.
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