Aaron,
I've never known BBMS to disburse the gross values. When I've used them, the funds disbursed were always after they took out their percentage.
Lisa,
We had this same issue at a previous institution when we first rolled out BBMS. How we handled it was sending them the disbursement reports every two weeks. These reports showed the gross value of the donation, as well as the amount of the fees and the net your organization received afterwards. It was difficult for them to understand how we were giving someone credit for a $100 dollar gift while only $97.23 was hitting the bank account. However, once we provided them with the disbursement reports, they were able to reconcile the gifts because they could deduct the fees and verify the amount that came into our bank account.
Currently, we use a different processor that we pay a monthly fee for that does not charge a percentage. Depending on usage, it may end up being a bit of a wash. For our organization, it tends to work better this way.
Dariel Dixon | Business Analyst
Rex Healthcare Foundation
2500 Blue Ridge Road, Suite 325
Raleigh, NC 27607
Dariel.Dixon@unchealth.unc.edu<mailto:
Dariel.Dixon@unchealth.unc.edu> | (919) 784-7689
From: Forrest, Aaron <
aaron.forrest@ROCHESTER.EDU>
Sent: Tuesday, August 27, 2019 10:00 AM
Subject: Re: Procedures for Accounting re: Reconciling CC's Net of Fees
We use Blackbaud merchant services for one of our platforms and get gross. So perhaps you need to speak with someone else?
Aaron
Aaron Forrest CPA
Senior Director Gift and Donor Services
University of Rochester Office of Advancement
Larry and Cindy Bloch Alumni and Advancement Center
300 East River Road
Rochester NY 14627
Office 585.275.2799 / Fax 585-273-4558
Email
aaron.forrest@rochester.edu<mailto:
aaron.forrest@rochester.edu>
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From: Advancement Services Discussion List <
FUNDSVCS@LISTSERV.FUNDSVCS.ORG<mailto:
FUNDSVCS@LISTSERV.FUNDSVCS.ORG>> On Behalf Of Johnson, Lisa
Sent: Tuesday, August 27, 2019 9:57 AM
To:
FUNDSVCS@LISTSERV.FUNDSVCS.ORG<mailto:
FUNDSVCS@LISTSERV.FUNDSVCS.ORG>
Subject: [FUNDSVCS] Procedures for Accounting re: Reconciling CC's Net of Fees
Good morning, everyone.
I am in conversations with Blackbaud to adopt their Merchant Services program/application. My biggest hurdle at the moment is that they disburse net of fees, whereas our current setup disburses gross of fees, and my Accounting department says moving to a reconciliation net of fees would be logistically cumbersome to them. When I spoke with the Blackbaud rep, he said he has never encountered this feedback before.
Since I don't work in Accounting I'm not very familiar with how they are reconciling, I would love it if any of you had procedures in place that you are willing to share that I could pass on to them that detail how cash reconciliation can take place with credit card disbursements net of fees.
Thanks in advance!
Lisa M. Johnson
Manager, Development Services
The Valley Hospital Foundation
Phone: 201-447-8427
Cell: 973-865-4797
Ljohnso7@valleyhealth.com<mailto:
Ljohnso7@valleyhealth.com>
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