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ON SPENT MONEY

Posted: Thu Sep 03, 2020 7:51 am
by sullaysamai
Hello everyone. please I need help on this one, my Branch have an auxiliary leaders training, so we decided to take money from our budget but there is balance of money reaming. but I don't know how to enter it back in to system

Re: ON SPENT MONEY

Posted: Thu Sep 03, 2020 9:01 am
by eblood66
Fill out a donation slip with a donor of 'Anonymous' (or 'Cash Advance Return' or something similar) and enter 'Budget' and the category of the original expense in the 'Other' box with the amount that wasn't spent. Then include the money (with the slip) in your next donation batch and enter the appropriate budget category as the category when entering it in MLS. Take the white copy of the donation slip and a copy of the donation batch report and add it to the receipts for the original expense in your records. As long as the total of the receipts and the amount returned equals the amount of the original expense then there shouldn't be a problem in the audit.

Normally members aren't allowed to donate to Budget but it's ok when it's a return of unspent cash or a refund from an expense previously paid.

Re: ON SPENT MONEY

Posted: Thu Sep 03, 2020 9:58 am
by sullaysamai
eblood66 wrote:Fill out a donation slip with a donor of 'Anonymous' (or 'Cash Advance Return' or something similar) and enter 'Budget' and the category of the original expense in the 'Other' box with the amount that wasn't spent. Then include the money (with the slip) in your next donation batch and enter the appropriate budget category as the category when entering it in MLS. Take the white copy of the donation slip and a copy of the donation batch report and add it to the receipts for the original expense in your records. As long as the total of the receipts and the amount returned equals the amount of the original expense then there shouldn't be a problem in the audit.

Normally members aren't allowed to donate to Budget but it's ok when it's a return of unspent cash or a refund from an expense previously paid.
thank you very much.

Re: ON SPENT MONEY

Posted: Thu Sep 03, 2020 11:34 am
by russellhltn
eblood66 wrote:Fill out a donation slip with a donor of 'Anonymous' (or 'Cash Advance Return' or something similar)
That part is not necessary. I'd make it out to the same person the money was advanced to.

Eons ago, we used to advise that to make sure the "donation" didn't show up in the year-end tax statement, but currently, nothing to "budget" will show up on that.

Re: ON SPENT MONEY

Posted: Thu Sep 03, 2020 11:58 am
by eblood66
russellhltn wrote:
eblood66 wrote:Fill out a donation slip with a donor of 'Anonymous' (or 'Cash Advance Return' or something similar)
That part is not necessary. I'd make it out to the same person the money was advanced to.
That's true. I recently had a case where they wanted to return unused cash for a fast offering payment. In that case you do not want to credit to any specific member because it would show up as tax deductible. But for a budget return that is not the case.