Recording a Donation From a Prior Period

Overview 

There are instances where a Donation Record is received, but the cash isn't received until a new period begins. The process for posting the Donation Record is the same as the normal workflow. Posting the Donation Record in Veracross Accounting will create a Journal Entry, posting this Donation to the General Ledger. The Posting and Recording of cash from a Donation must be recorded when the cash is deposited in order for cash reconciliation to be correct. 

Workflow Example

Development office receives a Check for a Donation on 05/25. The check doesn't get deposited into the school's bank account until 06/03. The Donation Record on the Axiom side would have a Receipt Date of 05/25.

When the Business Office is ready to Post the donation, it would have a Posting Date of 06/03. 

This workflow is needed and must be followed so that both offices have the appropriate reconciliations. 

Recording Donation From a Prior Fiscal Year

The Business Office should communicate a clear cutoff date to the Development Office for Donations at the end of your Fiscal Year. All Donations and cash received prior to the Fiscal Year ending should be submitted by the Development Office prior to Fiscal Year end. This enables the Business Office to be able to post the donations into the proper period where cash was received. 

However, instances do occur where a Donation record is recorded in a prior year, and the cash is received at the start of the next Fiscal Year. When this occurs, the same workflow is followed as the cash must be Posted to the Period that it is deposited for reconciliation purposes. 

Step-by-Step Posting Process 

1. Navigate to the Donation Record in Veracross Accounting
2. Make sure the Donation is marked "Ready to Post"
3. Populate the Batch ID on the Donation record(s) to group the Donations together
4. Create a Cash Receipt Batch 
5. Populate the following fields on the Cash Receipt Batch (CRB)
   1. Batch ID from Step 3 into the CRB field Donation Batch ID
   2. Deposit Date
   3. Cash GL Account
6. Press Update to save the CRB
7. Post the Cash Receipt Batch from the Action Menu -> Post Cash Receipts