Sell/Stock Property -- Best Practice to track in RE NXT

Terrie Sampson

Hello, we are close to converting to RE NXT and a question has come up on tracking the sale of Stock/Property in RE.  Is it best practice to record the gains, losses, and broker fees on the  Stock/Property gift record once stock is sold?  We currently don't do that in our legacy system -- we only record and maintain relevant charitable gift info.  Our treasurer's office records and reconciles the difference between gift value and gain/losses on their side, but outside of their data system, which is Financial Edge NXT.  However, once we convert to RE NXT, we will be integrated with FE NXT, so does that matter as to if we should track sale info on the gift of stock record?  Are there any repercussions if we don't and continue to let the treasurer's office track separately and reconcile the difference in numbers?  Any feedback and insight would be appreciated.  


Also, another part of this is how to handle when we receive a gift of multiple stocks that is to be applied toward a pledge that has been designated to multiple funds.  If we distribute the gift to the funds in specific amounts, it seems we can not adjust the gain, loss or brokerage fees that are applied to each fund.  For example, we entered the gift as:


Type: Stock/Property

Total Value: $2,882.50

Split Gift:

Fund 1: $2,000

Fund 2: $ 882.50


When we then select Sell Stock/Property and put in Sale Amount ($2,900) and Broker Fee ($79) and then click View GL Distribution, the amount appear to have been auto distributed across the two funds, but with incorrect values (as shown below). 




Any tips, thoughts, guidance on how to handle and process would be appreciated!  Thank you! Terrie

JoAnn Strommen

It's been a while since I've had to process stock but I believe you're correct.  Fees etc are auto filled at same percentage as fund splits and I don't think you can edit it. What do you think is incorrect.  Fund 2 has 30.6% of donation and same percent of gain and fees.