Tech Forum

Please excuse me, if this has been asked previously. I have looked and found no conclusive word.

With the release of the latest LCR functionality for reviewing expenses digitally, is it required to keep the expenses documented and stored locally?

For Example, with the MLS system, we print out the check, have a copy of the receipt, and a document signed by the Stake President authorizing the expense.
In LCR, the receipt is digitized, the Stake Presidents authorization is digitized, for ACH transactions it is all digitized. Do we need to keep a copy of the receipt and Stake Presidents authorization on file?

Short answer: no.

There have been several discussions regarding the new finance system. You might want to read through those and see what you can find:

Electronic reimbursements
Beta Electronic (ACH) Expense Reimbursement - Best practices
Entering Expenses on LCR