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)