We have a new accountant and I want to find out how others are processing silent auction items donated and then when a donor wins the item.
- Previously, we entered the silent auction item into the donor record into RE, but with no amount. We kept the approx amount in a note, but the transaction was zero, just to track and count donations toward the donor counts. Then when someone bought the item, we had approx value on display with the bidding sheet, and we entered a gift transaction into their record in RE and entered the full amount of the winning amount and minus the approx value in the Receipt amount for tax purposes.
- Changed - The new account doesn't want any silent auction items entered into RE? This is for both the person donating the item and also for the winning bidder. She did make a good point that the amount bid can be used as the tax-deductible value. So now it's a three-part form for silent auction items. Copy 1 goes to the winner bidder and that is what they use for tax purposes. The other copies come to the office as a backup.
This new process is new to me and I have been doing this for many years. I want to bring this to our executive director to explain that we are losing donor counts and donor activity if we don't enter these transactions. The accountant is my supervisor and I voiced my concern, but she wants it done this way. I informed her that I can “Not Post” the transactions so that they will not be uploaded into FE, but no luck.
Thanks for your help. I need it from FE accountants!
