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Transferring funds from Other:Authorised Member Financed Activities back into the budget

Posted: Sun Jul 24, 2016 3:29 am
by rdev24
How do i transfer funds from 'Other: Authorised Member Financed Activities' back into the budget.
This is at Stake level for funds transferred back in from Units after Stake & Units funded activities.

Re: Transferring funds from Other:Authorised Member Financed Activities back into the budget

Posted: Sun Jul 24, 2016 3:52 am
by russellhltn
Transferring money from Other to Budget give auditors heartburn as it has the appearance of supplementing the budget with donations - which is against policy. So it's better to re-categorize expenses so that the money in other is used up for the intended purpose. Much cleaner that way.

I'm not sure, but to do the transfer, you may have to cut a check and process it as a donation.

Re: Transferring funds from Other:Authorised Member Financed Activities back into the budget

Posted: Sun Jul 24, 2016 4:44 am
by rdev24
Thank you for your speedy response.
You've informed me of something I didn't know about.
Units transferring funds to reimburse Stake cannot be put through as a donation though it should be done that way.
Any suggestions?
I guess we have to look at having a 2nd tier budgeting funds in MLS and transfer most of it as soon as it is allocated and use ithe fromissions one place.
This will make things more complicated, take more time and lead to potential problems.
I'll Call GSC and see if they can help to transfer specific unit transferred funds across as these have been accounted for else where and have reference numbers to trace them for auditing purposes. The rest we'll have to see how to use appropriately.
Thanks again for your help :D

Re: Transferring funds from Other:Authorised Member Financed Activities back into the budget

Posted: Sun Jul 24, 2016 11:49 am
by russellhltn
I guess I need a bigger picture. Is the funds coming from the ward "other" so that's why it ends up in the stake "other"?

Since it's a reimbursement, you should be able to re-categorize any expenses the stake made from budget to other. That way you can print out all the transactions against other and show the auditors and wards where the money went without co-mingling it with budget.

Re: Transferring funds from Other:Authorised Member Financed Activities back into the budget

Posted: Sun Jul 24, 2016 4:01 pm
by rdev24
Units are transferring from their own budgets to stake and the only place that they can transfer the money to is into the 'Other: Authorised Member Financed Activities' category, not even a sub category of it!

After the funds have been transferred I can't transfer them back into the budget categories that the original payments came from, thus depleting our entire budgets very quickly.

Once we have the funds back from the units it looks as though they can still be used but out of the 'Other' categories section, which is OK but not great practice! Messy really.

At Stake we don't take donations in as this is done directly by the units themselves, Tithing, Missionary funds, Refugee Assistance, etc...

Re: Transferring funds from Other:Authorised Member Financed Activities back into the budget

Posted: Sun Jul 24, 2016 8:25 pm
by lajackson
rdev24 wrote:After the funds have been transferred I can't transfer them back into the budget categories that the original payments came from, thus depleting our entire budgets very quickly.
If the funds are coming from unit budget accounts, they can be transferred to the stake budget account and all is well.

If the funds are coming from member contributions to the Other account, they must be transferred to the stake Other account. If this is the case, go to the original expenses and recategorize them as Other, rather than Budget. This will use up the money that was transferred into the stake Other account from the units.