Stock Adjustments after sale

Anne Swearingin

Is there away to enter the stock adjustments after the stock is sold in RE NXT? We have a loss and fees that need to be recorded. Thank you.

Alex Wong

@Anne Swearingin
We looked into this years ago so I don't know if something has changed or not, however, I doubt it.

If you entered stock sell info and that is posted, you will no longer be able to adjust the gift.

So our process has been to enter the stock sell info as “DO NOT POST” and manual entry is done in FE for that instead. WHen needing to adjust the stock gift, we will delete the stock sell info first, make the adjustment, then reenter the stock sell info and again mark it as Do NOT POST

Anne Swearingin

@Alex Wong
Thank you. I should have been more clear. The main question is, how do I record the sale in RE NXT. We are trying to make sure we are familiar with NXT before they cut off the database.

Alex Wong

@Anne Swearingin
You can't enter sell stock info on NXT yet.

Autumn Mella

@Anne Swearingin We enter the stock once it's sold as a cash gift and process the acknowledgement/tax receipt outside of the database via an excel tracker. That way we can note the name of stock and # of shares sold easily.

JoAnn Strommen

@Autumn Mella I have to admit I cring a bit whenever I hear of an org recording/keeping data outside of RE when the data can be in RE. Entering a stock gift in RE does record the name of stock and # of shares as well as have a process to sell it and record any difference in $ / broker fees.

We note the name and share # in gift reference field and that easily pulls into our acknowledgement/tax receipt using Mail functions.

We feel it also provides a better record for the donor and us especially when it comes to records for the donor doing their taxes.