Match RE Revenue Reporting to FE Numbers (Accounting for GAAP Realization of Adjustments)

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Austen Brown
Austen Brown ✭✭✭✭✭
Ninth Anniversary Facilitator 4 Name Dropper Photogenic
in Blackbaud Raiser's Edge NXT®: General Discussion

I report on revenue monthly, while this does not seem to be a complicated task there are restrictions. I need my numbers to match FInances - they follow GAAP accounting procedures.

 

The issue comes into play in how Finance tracks adjustments versus RE. In RE, we count the change when the gift was made, FE counts it when the change was made - i.e. a cash gift in 2017 needs to be changed to pay-cash: RE makes the change in 2017 (2017 numbers change), FE makes the change in May 2018 (2018 numbers change).

 

For those of you running revenue reports, how do keep track of adjustments by FE standards to compute the correct numbers originated in RE for revenue reports?

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  • James Andrews
    James Andrews ✭
    Ancient Membership Facilitator 2 Photogenic

    Austen Brown:

    I report on revenue monthly, while this does not seem to be a complicated task there are restrictions. I need my numbers to match FInances - they follow GAAP accounting procedures.

     

    The issue comes into play in how Finance tracks adjustments versus RE. In RE, we count the change when the gift was made, FE counts it when the change was made - i.e. a cash gift in 2017 needs to be changed to pay-cash: RE makes the change in 2017 (2017 numbers change), FE makes the change in May 2018 (2018 numbers change).

     

    For those of you running revenue reports, how do keep track of adjustments by FE standards to compute the correct numbers originated in RE for revenue reports?

     

    I created an adjusted gift report that shows all the relevant information.


    But in theory, if you are integrated with FE adn assuming you have the "Use adjustment GL post date for the reversal GL post date" box checked, it shouldn't really be an issue, should it?  I mean, the gift adjusted to 0 and re-entered as a payment should net out in the same fiscal period...

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