Posting Gifts to RE for goods purchased
Hello, I am newish to my role at my company. We have different fundraisers throughout the year where our staff can purchase goods such as fireworks or jewelry and have that amount payroll deducted from their paycheck. The person that previously had my position didn't have the payments towards these fundraisers posted into RE. I can't figure out why. What does everyone else do for these types of fundraisers? Do you post what people pay for the goods they purchased and the receipt amount is just $0?
Comments
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What I've seen on the forums over the years is yes and no.
Some orgs consider it support and record all.
We do not. If they are purchasing something with a payment of the FMV, we do not consider that a donation. If added to RE, the amount will pull in giving reports and life-time giving. If they make a payment above what is identified as the benefit/FMV we will record and receipt that amount.Those purchases go straight to accounting. Only charitable contributions are entered into RE for us.
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