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  • 1.  How to record partially refunded grant money

    Posted 01-29-2024 10:59 AM

    Hi,

    We have to return some grant funds that our organization was unable to utilize. For those who use Raiser's Edge, what's the best way to record this transaction? I was thinking a gift adjustment would suffice but I wanted to check with the group.

    Thank you,

    Kelly



    ------------------------------
    Kelly Hallock
    Warren Wilson College
    khallock@warren-wilson.edu
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  • 2.  RE: How to record partially refunded grant money

    Posted 01-29-2024 11:28 AM
    I do not think the CRM makes a difference. At Duke and NC State, we used Advance and would reduce the amount of the original grant - while adding a comment to the gift record.

    John

    John H. Taylor 
    919.816.5903 (Cell/Text)

    Big Ideas; Small Keyboard





  • 3.  RE: How to record partially refunded grant money

    Posted 01-29-2024 04:08 PM
    Kelly, an adjustment in RE is appropriate, so long as the change occurs in the same fiscal.


    Thank you,
    Isaac Shalev
    Data Strategy Expert
    Sage70, Inc.
    (917) 859-0151
    isaac@sage70.com

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  • 4.  RE: How to record partially refunded grant money

    Posted 01-29-2024 04:24 PM
    We made these adjustments regardless of the year. We ensured that for prior year adjustments, no transaction was fed to the GL. Instead, we would coordinate with the Business Office to allow them to make the appropriate accounting entries.

    I meant to add to my earlier response that we typically would not contact CASE to revise prior year submissions. However, campaign totals would reflect the change provided both the credit and debit occurred within the same campaign time frame.

    John

    John H. Taylor 
    919.816.5903 (Cell/Text)

    Big Ideas; Small Keyboard



    Original Message


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