Financial Statements

I would love to start a thread starting from the top of a ward financial statement and discussing how it flows.

I am not sure it would be appropriate to do or not here.

I for one would love the opportunity to break one down to understand them better.

What say ye moderators?

It could be a sticky....

Pretty please....

This sounds like a good one for LDSClerks.com.

I was just there to see if something was already there but alas, the site had crashed. Does anyone know who to contact for this?

jdlessley wrote:This sounds like a good one for LDSClerks.com.

I was just there to see if something was already there but alas, the site had crashed. Does anyone know who to contact for this?

You're right that this is a perfect topic for a wiki. This forum is not the best place for it.

I have actually written the article kmalone requested, but am unable to post it to the LDSClerks wiki. I reported the problem with the wiki site to the site owner two days ago, but have not received any reply. As soon as the site is back up I will add the article and post a link to the article in this thread.

However, in the meantime, I will attach my article to this post.

Alan_Brown wrote:You're right that this is a perfect topic for a wiki. This forum is not the best place for it.

However, in the meantime, I will attach my article to this post.

Is there an article on the Stake Financial Summary Document?

It looks like LDSclerk may be dying. I get the dreaded domain is up for registration. so the Owner may no longer be interested in it.

How critical is this site to our community. I for one have never visited it.

kmalone wrote:It looks like LDSclerk may be dying. I get the dreaded domain is up for registration. so the Owner may no longer be interested in it.

Huh? It seems to work fine for me. http://www.ldsclerks.org or http://www.ldsclerks.com.

And the site is back up. It was down with a SQL error.

Well I followed the quote and typed .com, no big deal at least we are all on the same page.

jdlessley wrote:This sounds like a good one for LDSClerks.com.

I was just there to see if something was already there but alas, the site had crashed. Does anyone know who to contact for this?

Alan_Brown wrote:As soon as the site is back up I will add the article and post a link to the article in this thread.

The article is now posted on the LDSClerks wiki at http://www.ldsclerks.org/index.php?titl ... _Statement. Feel free to review, extend, or correct it.

opee wrote:Is there an article on the Stake Financial Summary Document?

There is now. See the Stake/District Financial Summary article on the LDSClerks Wiki.

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.

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.

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.

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.

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.

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.