Year end receipts

Tracy Wadlow · February 2018

Hi;

looking for the best way to issue year end receipts.

thanks

Tracy

JoAnn Strommen · February 2018

More information would be helpful. Is it a receipt for tax purposes or just a courtesy summary for donors of their gifts for the year?

For our monthly donors we has them set for consolidated receipts and send them a receipt similar to what every donor to that fund receives stating that we received $XXX in 2017 via monhly EFT.

For donors who have lost receipts and ask for a list we run an Annual Giving statement that lists all the gifts, date and receipt #. It is clear so it can not be taken as a receipting the same gift more than once. We do not do this for all donors. There have been several receipt posts on this topic. Search and see what/why people do.

Are you asking "How to do it?". We use Mail > Receipt function. Some others export data to a mail merge file.

Tracy Wadlow · February 2018

Thank you JoAnn;

For Pledges and recurring gifts, we issue a tax receipt at the end of each pledge and then again at the end of the calendar year. We would like to change and do one reciept, once a year for our annual giving and calling program pledges and recurring gifts. We want to streamline our process.

Does that make more sense?

We use Mail, but I couldnt find any instructions on YTD receipts on knowledgebase. Do I just want to include all recurring payments and and Pay-cash for the calendar year? or do I have to include installment/transactions?

thanks,

Tracy

ull

JoAnn Strommen:

More information would be helpful. Is it a receipt for tax purposes or just a courtesy summary for donors of their gifts for the year?

For our monthly donors we has them set for consolidated receipts and send them a receipt similar to what every donor to that fund receives stating that we received $XXX in 2017 via monhly EFT.

For donors who have lost receipts and ask for a list we run an Annual Giving statement that lists all the gifts, date and receipt #. It is clear so it can not be taken as a receipting the same gift more than once. We do not do this for all donors. There have been several receipt posts on this topic. Search and see what/why people do.

Are you asking "How to do it?". We use Mail > Receipt function. Some others export data to a mail merge file.

JoAnn Strommen · February 2018

Tracy, Your practice should be to only issue one receipt per gift. It can be confusing to donors to receive multiple receipts and could cause issues with the IRS if your donors start claiming deductions based on these duplicate receipts. Each gift is receipted once. Donors can be thanked multiple times and you can send a summary/end of year doc but it should not be a second receipt. I'm not a tax expert but am pretty sure of this fact.

To lump all the monthly gifts into one receipt (scenario-Rick made 11 monthly installments of $100.00 in 2017) set the Receipt Type (Bio tab 2) to Consolidated. When you run your Mail function it will generate a receipt (for Rick it would have your receipt # and an amount of $1100.00). Note, consolidated receipts do not pull into the Word file if you are using a conditional merge for you Mail function. Gifts get marked as receipted but you have no letter to print.

I'm not clear on what you mean: once a year for our annual giving and calling program pledges and recurring gifts. Prompt receipting is recommended. Don't wait until end of year to receipt one time gifts. The only receipts we do at year end is for our montly donors and for year long payroll deductions. Those are always sent before 1/31.

Try searching knowledgebase for consolidated receipts. That should get you results.

Tracy Wadlow · February 2018

Hi JoAnn;

We have to have a receipt #
to feed out batches to our finance system. The receipt # is
generated for every batch.

The annual giving pledges
and recurring gifts are monthly and quarterly gift not
one-time. One time gifts get receipted right away.

We have pledges that finish
in every month all year long. People only get 2 receipts in a
year currently if one pledge ends in March and then the same donor
renews in May of the same year. The donor would get a receipt
for the pmts to the 2^nd pledge in Dec for his year end
receipt. They are not getting duplicates. The receipts are
technically for 2 separate pledges.

I want to change our
process and only receipt once in Dec for both pledges and receipt
them for YTD pmts regardless of the # of pledges. Recurring
gifts are easy because for the most part, they are
perpetual.

Thanks – I’ll read the
consolidate instructions again. I think I just have to test
in our development database. I was hoping for a
shortcut. J Your
feedback is much appreciated. Thank you for taking the
time.

Tracy Wadlow

Gift Processing Officer, Advancement Services

Ex: 8908