Intra stake financial EFTS

I was preparing to enter an expense for young women's camp to give the stake, and I wondered why we could not just do it as an EFT instead of cutting a check and delivering it to the stake presidents (who will then need to do a deposit of it).
The info for all the stake and ward units should already be in the system, why isn't it as simple as setting up an ETF expense?

dstuffle wrote:why isn't it as simple as setting up an ETF expense?

Once you are in LCR Finance, click on Transfers on the gray menu. When you select the "to" category, the top item is "Transfer Out of Unit." When you click that, you need to click the drop list again and you will see a list of units in your stake. Select the unit and then click the list again to select a category.

We transferred funds from our Other/AMFA:YW Camp subcategory to our stake's Other/AMFA top-level category yesterday. Since we did the transfer before we deposited funds from the fundraising activity we held two days ago, there were insufficient funds in AMFA to cover the transfer. So we cleaned out the AMFA funds, and took the rest from the YW budget.

Is it possible to edit that transfer, as we can do with expenses, so the entire amount comes from AMFA? I don't see any way to edit a transfer. And I'm not sure it is OK for us to transfer funds from AMFA to reimburse the YW budget.

drepouille wrote:Is it possible to edit that transfer, as we can do with expenses, so the entire amount comes from AMFA? I don't see any way to edit a transfer. And I'm not sure it is OK for us to transfer funds from AMFA to reimburse the YW budget.

As far as I know, you can't edit categories on a transfer. I would visit with the stake and see how they want you to correct it. One option would be to have them transfer the funds back and let you initiate a new transfer. The stake audit committee chairman might have other suggestions on what he would prefer to see.

I don't think there is any way to edit a transfer unfortunately. But it looks like LCR will allow a transfer from AMFA to Budget. As long as the transfer is less than or equal to the amount used from the Budget in the other transfer and you've documented the reason for the transfer including the reference # of the original transfer then I don't think there is anything improper about making the transfer. It's just not as cleanly and obviously documented as it is when you create a 'transfer' by editing an expense.

However, I did notice that the documentation for the two transfers I did yesterday don't show up when I look at those transfers from the Transfers Summary tab. I assume that's a bug. But it makes me think maybe I should print the documentation and put it in our expense file for the audit just in case.

eblood66 wrote:But it looks like LCR will allow a transfer from AMFA to Budget.

I could see that getting abused. I wonder if it was deliberate?

russellhltn wrote:

eblood66 wrote:But it looks like LCR will allow a transfer from AMFA to Budget.

I could see that getting abused. I wonder if it was deliberate?

Well, it limits transfers from Ward Missionary categories to other Ward Missionary categories and it does not allow transfers from budget or AMFA to Ward Missionary so it looks deliberate to me.

Yes, it could be abused but there are times where it may be needed. The same is really true of donations to budget. It too could certainly be abused but there are occasional legitimate needs.