Cash Adjustment Inquiry

Greg Usam

Hello, So today, I received word today that $500 of the $600 Workplace Giving check from last month should have been logged as Pay-Cash. I was wondering how I should go about this Cash Adjustment. The person that should receive the $500 has a Pledge under his name in RE so I was wondering if I should remove $500 from the $600 gift, run the adjustment, then post to the GL, and then create a new Pay-Cash. Normally, I'd just run the Gift Adjustment under this person's name but I'm not sure if I can post directly to 1300. Any help would be appreciated. Thank you!

Joshua Bekerman bCLO bCRE

Greg Usam:
Hello, So today, I received word today that $500 of the $600 Workplace Giving check from last month should have been logged as Pay-Cash. I was wondering how I should go about this Cash Adjustment. The person that should receive the $500 has a Pledge under his name in RE so I was wondering if I should remove $500 from the $600 gift, run the adjustment, then post to the GL, and then create a new Pay-Cash. Normally, I'd just run the Gift Adjustment under this person's name but I'm not sure if I can post directly to 1300. Any help would be appreciated. Thank you!

We would probably delete the original gift and re-enter as two separate gifts, with the $500 applied to the pledge.  You will probably know best how to handle this as it depends on your accounting and gift entry policies.  We would delete the original gift entry because it was entered incorrectly, as opposed to an actual change of the gift itself (i.e. moved to a different fund).

I'm curious if the pledge was a workplace/MG pledge, or was it a regular pledge that is being paid by their employer?

 

Greg Usam

Josh Bekerman:

We would probably delete the original gift and re-enter as two separate gifts, with the $500 applied to the pledge.  You will probably know best how to handle this as it depends on your accounting and gift entry policies.  We would delete the original gift entry because it was entered incorrectly, as opposed to an actual change of the gift itself (i.e. moved to a different fund).

I'm curious if the pledge was a workplace/MG pledge, or was it a regular pledge that is being paid by their employer?

 

Thank you for your response, Mr. Bekerman! I will consult the Director of Finance about the policy. Under the constituent records, there is an individual pledge but we may have received the money through non-individual gifts.

JoAnn Strommen

Greg Usam:
Thank you for your response, Mr. Bekerman! I will consult the Director of Finance about the policy. Under the constituent records, there is an individual pledge but we may have received the money through non-individual gifts.

Like Josh posted I go with re-entering the gift.  For records incase of a question down the road, I would adjust original entry to $0 and note on the adjustment what happened and that gift was re-entered, etc.