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
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Original Message:
Sent: 1/29/2024 5:08:00 PM
From: Isaac Shalev
Subject: RE: How to record partially refunded grant money
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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Original Message:
Sent: 1/29/2024 11:59:00 AM
From: Kelly Hallock
Subject: How to record partially refunded grant money
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
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Kelly Hallock
Warren Wilson College
khallock@warren-wilson.edu
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