Branch funds & accounting

Branch funding and accounting systems support our branches to allow them to continue to provide much-needed welfare services locally.

Branch Funds

The Branch Funds Initiative (BFI) is a savings scheme administered by Head Office.
It allows Branches to retain quick and easy access to their funds whilst earning a good rate of interest, maximum return and this enables the Legion to continue to provide much needed welfare services to our serving and ex-Service beneficiaries.

The interest being paid on centrally banked funds is 2.0 per cent.

Below are links to information about this system and forms to use.

Helpful documents and forms

Page 23 from Legion Magazine, October 2014. Includes 10 things all branches can do to prevent the Legion from being defrauded.

 

Legion online membership accounting system (LOMAS)

LOMAS is the Legion's new accountancy software for branches, a secure internet-based system which can be accessed from any computer in the world without local installation.

Branch Treasurers can produce a year-end report at the touch of a button, reports with receipts and expenditure at any time and ad hoc reports very effectively. LOMAS gives them access to their live Branch Funds Initiative (BFI) balance and interest accrued at any time.

They can also use the system to request transfers of money between current and BFI accounts and between BFI accounts and other Legion Funds, such as Homes and Poppy Appeal.

Roll-out and training

LOMAS has been rolled out to 100% of all counties and districts including Germany, Northern Spain and Southern Spain.

Training is now available for branches that have expressed an interest in it. Because the new system was designed in conjunction with treasurers, it has already been given the thumbs-up by the County and District Treasurers currently using it.

"I have to say I took to LOMAS easily enough once I had been to the training sessions. The system is easy to operate and understand and at the touch of a button gives you the information required instead of turning pages in ledgers. No more time-consuming frustrating columns to formulate and calculate manually." District Treasurer

If any branch requires further information, please register your interest with your respective County or District Secretary in the first instance.

Access to LOMAS

Link to Test System http://lomas.britishlegion.org.uk/branchtest

Live to Live System http://lomas.britishlegion.org.uk/branchlive

More information

If you have any further questions regarding LOMAS, please send an email to LOMASHelpdesk@britishlegion.org.uk and a LOMAS helpdesk assistant will respond as soon as possible.

"Monthly reconciliation with bank statements couldn't be easier and I am looking forward to end-of-year-accounts simplicity. I was not even competent on Excel but LOMAS really has changed my way of thinking about the accounts and once I got over the fear that I couldn't break the system then I just took it on board and went with it. Don't want to go back now." County Treasurer