Using Gift Date as Post Date?

Laura Salfen

Hello all! Finance and I are trying to streamline some of our processes, chiefly monthly reconciliation and posting to GL. We use RE, Online Express, and FE, with BBMS for credit card processing. Currently, our process for credit card gifts is to change the post date to match the BBMS disbursement dates and then posting those gifts on the BBMS disbursement date, but this has caused some trouble with monthly reconciliation, as gift dates in RE for these gifts don't match the dates in FE. Our finance director has proposed changing the post dates for BBMS charges to the gift dates, posting as gifts are made vs. when the money is deposited. Finance would then make adjustments on their end once the disbursement is received. I'm still fairly new to the post to GL process, and I was wondering about best practices. What is the best practice for post dates for BBMS and other delayed deposit gifts? Those who use the RE-FE-BBMS combo, how are you treating post dates/gift dates? 


Thanks!

JoAnn Strommen

We do as your Finance Director has proposed at my past and current orgs. It's a bit more work on finance side as they have to match them up. 

Karen Diener 2

I would recommend sticking with what you are currently doing - the post date is equal to the BBMS disbursement date.  Development "owns" the gift date field.  I've dealt with this at two organizations and sticking to that made a huge difference in their reconciliation processes.  Both of them used RE and OLX, but only one used FE as well.  Regardless, the process worked.


You wrote that you are were doing that, but then "gift dates in RE weren't missing the dates in FE".  If you (or finance) is using Gift Date, then they definitely won't match.  In the posting process, all gifts are "bundled up" into a sum total based on Post Date, and if you are synchronized with FE, that total will show up in FE.


Clarifying the dates that Finance is using / pulling for their side of the reconciliation.  They need to use Post Date and everything should be okay.


Karen

Tatyana Leifman

We also do as JoAnn Strommen.  We don't use BBMS but we use the gift date same as post date for our online gifts.  Finance then ties the deposits to what I push from RE to FE.  Anyway the amounts are not exact since vendor fees are taken out by the credit card processors. 


Tatyana 

Wanda Hardison 2

@Laura Salfen Hi Laura, I'm curious to know how long before you can enter your online gifts into Raiser's Edge while waiting for Finance to supply you with a deposit date for each gift. Do you wait for the Finance Department to identify the deposit date before processing online gifts or do you adjust all online gift dates/postdates later? It would be really helpful if you could share your gift manual. Thanks for posting this matter.