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

• Write down the supplier number onto the cheque requisition form and ensure information is complete
• Enter Batch amount (enter as a minus)
• Enter as a Voucher type 30
• Document type: INE
• Document number: XXXX (eg. 1000 if Chq # is 1000)
• Supplier number: XXXXX (eg. 20056 for Royal Inland Hospital)
• Supplier Invoice # = reference from Angela which is found on the Cheque Requisition Form (Eg. #11286-2020)
• Bank reference #: XXX (use cheque number eg. 463)
• Supplier Invoice Date = Cheque Date
• Trasaction amount = amount (enter as positive)
• Text = INV #XXXXXX, Name of Charity (Eg. INV #11286-2020, ROYAL INLAND)
• Send to appropriate GL (730100 for Donations, Cost Center = 1510)
• Post Batch then print

Entering Payment into Bank

• Enter as VT 45
• Doc Type: MAN
• Document #: CHQ #
• Doc Date: CHQ Date
• Text: MAN XXX, Name of Charity
• Enter Amount (enter as positive) and press enter to continue to next screen
• Transaction ref: XXX
• Text: MAN XXX, Name of Charity
• 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)
• Fill in details in the remaining tabs and update the date and balances at the top of the page. Charity Registration numbers can be found at on the CRA Charity Listing Page
• Refresh all pivot tables and ensure the totals are correct
• Link the pivot table in the Trial Balance (details) tab to the corresponding cells in the Trial Balance Summary tab
• Manually fill in the previous years information using the year to date information from the printed statements which can be printed in ASW by navigating to BUs Reporting -> work with reports
• Print FIN01, FIN03 UMC and FIN05-UMC2 and match totals to the respective statements