Finance Summary

Overview

The “Overview” menu has three submenus: “Dashboard,” “Income and Expense Summary,” and “Income and Expense Details.”

Dashboard

The dashboard is displayed when the “Finance” menu is selected under Leader and Clerk Resources (LCR). This menu item presents reminders, announcements, and financial items to review and approve.

This page contains links to action items for leaders to address. Next to each item is the number of tasks to complete. If the number is red, there is a task to do.

Income and Expense Summary

The Income and Expense Summary shows a high-level view of the unit’s income and expenses for the current year, the previous year, or custom dates.

Steps:

• Click Overview.
• Click Income and Expense Summary.
• Choose Current Year (default), Previous Year, or Custom Dates.
• Select All Categories (default), or click and choose a specific category.
• Click a Category item. Click the accordion icon next to a category to see subcategories. (For example, expand Ward Missionary Fund to view individual missionary expenses.)
• Click hyperlinked text or numbers to drill down for more details.

Income and Expense Details

The Income and Expense Details page allows you to view specifics about an expense, income, or a transfer.

Steps:

• Click Overview.
• Click Income and Expense Details.
• Choose Current Year (default), Previous Year, or Custom Dates.
• Select All Categories (default), or click and choose a specific category.
• Select All Types (default), or click and choose Expense, Income, or Transfer.
• Click a linked reference number to get details about that item.

Donations

The Donation Batch Summary page displays all donations made to the unit.

Where applicable, the donation batch source represents:

• Online donations that were submitted by members. A batch is created each day that one or more members submit online donations.
• Bill Pay donations that were received by the unit.
• Unit donations received and processed by the unit.
• Admin Office donations received and processed by Church headquarters.
• Other named sources representing donations that were submitted by members using other approved methods.

Steps:

• Click the Donations menu.
• Choose Current Year (default), Previous Year, or Custom Dates.
• Select All Sources (default), or click and choose Online Donation, Ward, Bill Pay, or Admin Office.
• Select All Categories (default), or click and choose a specific category.
• Click the date or the accordion icon next to a date to view the categories included with that batch.
• Click a linked reference number to get details about that item.
• Click the member’s name to view the donation slip.

Expenses

The Expenses menu allows you to enter, review, and approve unit expenses. The following tabs are shown on this page:

• Card Transactions (if allowed for unit)
• Enter Expenses
• Approve Expenses
• Print Checks (if allowed for unit)
• Bishop’s/President’s Review
• Pending Expenses
• Expenses Summary

Read more about these in “Card Transactions,” in “Record Expenses and Reimbursements,” and in “Printing Checks.”

Transfers

Units can transfer certain types of funds within their own unit or to other units. The following tabs are shown on this page:

• Enter Transfers
• Approve Transfers
• Pending Transfers
• Transfers Summary

Read more about transfers.

Budget

Every unit prepares a budget to manage their funding throughout the year. The stake president manages the stake budget, and the bishop manages the ward budget.

The following tabs are shown on this page:

• Budget Summary
• Assign Budget
• Manage Categories

Read more in “Local Unit Budget Instructions (Stake Presidencies, Bishoprics, and Clerks).”

Participants

The participant list on LCR includes three types of participants: donors, payees, and recipients. Read more about participants.

Tithing Declaration

The bishop holds tithing declaration near the end of each year.

The following tabs are shown on this page:

• Donor Statements
• Tithing Declaration
• Declaration Summary
• Year End Statement

Read more about tithing declaration.

Reports

The Reports menu is where you can view different reports that are available. They include:

• Action Items—These items require you to take action to clear them. They may include checks that have not been cashed or MLS transmissions that have not been properly transmitted.
• Budget Reports—These are the quarterly Budget Allowance reports for your unit. These allow you to track the amount of funds your unit receives over a period of time.
• Financial Statements—These are your unit’s monthly financial statements.
• Signature Cards (U.S. and Canada only)—The signature card tells the bank who is authorized to sign checks for your stake, district, ward, or branch.
• Expense Request Form
• Payment Cards—Appears if unit is a Card Unit.

Help

The Help menu is for help with LCR-Finance.

• Contact Us—Clicking this option accesses the input sheet to obtain a response from the Global Services Department.
• Help Center—Articles to help with leadership callings.
• Sacred Funds, Sacred Responsibilities—A required video on a leader’s responsibilities and stewardship over sacred funds.