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Frequently Asked Questions |
| How do I read and use the Allocation report? How does the Allocation Report calculate amounts due? |
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The allocation report is designed to give you all the information you need in order to meet your
allocations in full. The Allocation Report will calculate your World Evangelism Fund, Pensions
and Benefits, Education and District allocations. To access the report, got to the Checkbook
screen, click on Reports and then click on Allocations.
We recommend using the Allocation Report in the following way. 1.) After opening the report, choose the "Year-to-Date"
option at the top of the report.
2.) If necessary, you can change the end date to an earlier
date. Example, today is November 11, but you only want to pay allocations through the end of
October. Change the end date to October 31.
3.) To see how much you need to pay to meet your allocations,
look at the Net Due column (very last column). Paying the amount in that column will get you
up-to-date on your allocation payments.
Here is a sample report and explanation of all calculations.
Report Date Range - There are 3 options given and a manual
override. The This Week option give you a date range of the current week, Sunday through
Saturday. The This Month option will give you a date range of the current month, up to the
current date. The Year-to-Date option will give you a date range for the entire year, up to the
current date. Use this option to determine if you are ahead or behind for the year. Many users
will want to use this option to determine the amount to pay on a weekly or monthly basis by
looking at the Net Due amount. To choose a different date range, click on the start date and/or
end date to change the dates.
Gross Income - This is the total of all Tax deductible
contributions. This number is determined by adding all funds designated as tax deductible posted
to Contributions in NTS. Click the
 next to the gross income to see a detailed listing of the funds
included. Double click on any fund to see a detailed listing of all contributions made to that
fund. Please see the links below for more information on how income is calculated and what money
is to be included in income.Allocation Name - The name of the allocation.
% - The percentage column is the percentage of your income
you will pay for your allocations.
Exemptions - This is the amount of exemptions, if any, that
apply to the allocation. The amount of any exemptions is subtracted from the Gross Income before
percentages are calculated. The amount of exemptions is calculated using the exemption settings
for the allocation report. See Allocation Setup for more
information.
Net Income - This is the amount that is multiplied by the
percentage to determine the amount due for the allocation. Net Income = Gross Income -
Exemptions.
Total Due - The amount due necessary to fully pay your
allocation. Total Due = Net Income × percentage. The World Evangelism Fund (WEF)
allocation is slightly different. See the note below for more information.
Amount Paid - The amount of any money paid during the report
time frame. Double click on any amount in this column to see a detailed listing of all payments
made to the allocation. In the example, no checks have been posted from January 1 to January 31
for any of the allocations. Only payments made to the expense accounts linked to the allocation
will appear as a payment.
This Payment (This Pymt.) - If you are planning on paying
some amount other than the Total Due, enter in the amount you are going to pay. If the amount
you are going to pay is less than or greater than the Total due, it could change the Total due
for other allocations. If you will be making a payment for an Approved Special but you haven't
entered it into the checkbook, enter the amount on the Missions Special line and the report will
deduct that amount from your gross income. After you enter an amount in this column, press Enter
on your keyboard and the report will recalculate your allocations based on the amount you
entered.
Total Paid - This is the amount already paid plus the any
amount entered into the "This Payment" column.
Paid % - Based on the Total Paid figure, this is the
percentage of your income you have or will have paid toward this allocation.
Net Due - Based on the Total Paid and the Total due, this is
the amount that you are over or under paying your allocations in full. If the amount is
negative, you have over paid your allocations.
At the bottom of the report, there are totals for Total Due, Total Paid and Net Due. The amount
of total paid does NOT include amounts paid towards Missions Specials. If the total for net due
is less than zero, the total will be zero.
To print the report, click the print button in the upper right corner of the report window.
It is important to know that this report will only show report income and amounts paid during the
specified date range. If the date range is August 1 through August 7, the report will only show
income and payments made from august 1 to August 7. It will not show income or payments made for
any dates prior to August 1 or after August 7.
WEF NOTE: In order to calculate the WEF allocation, NTS first subtracts the amount due for WEF
from the net income. So net income for WEF becomes the following:
WEF Income = Net Income - WEF Total Due.WEF Total Due = WEF Income × 5.5%. The net result is that you actually pay less than 5.5% of your actual income to WEF. This is the correct amount to pay as we use the same formula used by the General Church. According to the General Church, any money paid towards WEF becomes an exemption for WEF. |
| For more information see: |
How does NTS calculate income? |
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Funding the Mission - Definition of Income and Examples
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How do I setup the Allocation Report? |
Back to Questions |
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If your question is not answered here, you can submit your question online or search our site. If you need further assistance, you can also email us at help@ntssoftware.com or call us at (817) 318-0303. |
| © 2011 David Watson - All Rights Reserved | |