Accounting Finance:Accounting Finance:UMC Charity

Overview

• The UMC Charity is considered a separate entity that allows shareholders to make donations, which uniPHARM matches (depending on which charity they would like to donate to).
• The charity receives funding from uniPHARM and runs the same fiscal year as the main company (Feb to Jan)

Accessing the Charitable Foundation

• To access the UMC Charity in ASW, change company by logging into ASW.
• Select Change Company in the top ribbon(green arrow)
• Enter CF for company code for Charitable Foundation. (Enter VA if switching back to uniPHARM database)

Entering Transactions

• Ensure you are in the CF database (see steps above)
• Navigate to Financials -> Financial Accounting -> GL Transaction Tasks -> Enter Financial Transactions

Entering Expenses

• • Enter as a Voucher type 30
• Document Type: INE
• INV# = reference from Angela which is found on the Cheque Requisition Form
• Cost Center - 1510
• Supplier INV Date - Cheque Date
• Send to appropriate GL (730100 for Donations)
• Post Batch then print

Entering Payment into Bank

• Enter as VT 45
• Doc Type: MAN
• Doc#: Chq #
• Doc Date: Chq Date
• Text: MANXXX, Name of Charity
• Enter Amount and press enter to continue to next screen
• Select corresponding entry and select Update
• Post the batch and stamp the Cheque Requisition Form to mark completion
• Scan the invoices and the journal entry into the Donations Folder. Donation Receipts to the CRA Folder

Preparing the Statements

• Open the CF Financial Statements Template File
• Open the details tab and fill in the details for the month using the date, reference (assign each transaction a reference #), and amount for transactions in the month.
• Enter the GL accounts each transaction will correspond with. Common GL accounts include:

100200 - Bank 750200 – Other contributions 750220 – Contributions with Tax Receipts (This transaction requires amount to be entered in the Donations Rec’d column as well). Check to ensure an donation receipt has been created for the donation. 210000 – Accounts Payable 120000 – Accounts Receivable

• Refresh the pivot table in the top right of the details page
• Enter transaction details from the monthly bank statement into the Bank Tab. Ensure the total matches the bank statement and the amount in the GL
• UWD Donations – Ensure the amount in this tab match the GL in the Unipharm company (VA not the CF database)