Interest on Gifts

Diane Guggisberrg

How do people currently record interest on gifts received. We only have Raisers Edge i.e we do not have Financial Edge. We receive a lump sum and place in the bank and it accrues interest, interest is currently is recorded under a constituent called Interest.??? Can anyone advise how they deal with Interest on Money received ? Do you even record in Raisers Edge? Thanks

JoAnn Strommen

Diane Guggisberrg:
How do people currently record interest on gifts received. We only have Raisers Edge i.e we do not have Financial Edge. We receive a lump sum and place in the bank and it accrues interest, interest is currently is recorded under a constituent called Interest.??? Can anyone advise how they deal with Interest on Money received ? Do you even record in Raisers Edge? Thanks

We do not record any interest earned in RE.  For us that's an accounting item, not related to fund raising/fund development.  Whether you have FE or some other accounting program, for us accounting is where it's dealt with.

Melissa Graves 2

Diane Guggisberrg:
How do people currently record interest on gifts received. We only have Raisers Edge i.e we do not have Financial Edge. We receive a lump sum and place in the bank and it accrues interest, interest is currently is recorded under a constituent called Interest.??? Can anyone advise how they deal with Interest on Money received ? Do you even record in Raisers Edge? Thanks

Interest is not a new gift - therefore it does not go into RE at all. RE is fundraising software. Interest on any investments is simply a financial record and belongs in their software only. Regardless of whether or not you have FE, you must have some kind of software where this information is being stored.