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Recording "Fee recovery" Amounts?

  • 1.  Recording "Fee recovery" Amounts?

    Posted 12 days ago

    Hi,

    I thought I understood this, until we tried to do it... Now we have confused ourselves & need advice.

     

    The website for an upcoming event offers the possibility for a registrant to pay a 3% fee to offset the cost of having a 3rd party vendor conduct the transaction.

     

    The question we have is how to record this in our Development system (Raiser's Edge).

    I think that for a $1,000 transaction, we would record $1,000 in Raiser's Edge whether or not the extra fee was paid, as vendor fees are a 'cost of doing business' that the Finance department may have to track in their system, but does not need to be tracked by Development.

     

    Should we record the transaction including the fee in the Development system ($1,030)?

     

    Thanks for your assistance,

     

    Mark

    jpgtm_2d6ece63-806a-4042-ab59-caee3c82e1e2.jpg

    Mark Mathyer
    Director of Development Services

    mmathyer@gcfd.org | 773-843-2844

    4100 West Ann Lurie Place
    Chicago, IL 60632
    chicagosfoodbank.org

    WE BELIEVE A HEALTHY COMMUNITY STARTS WITH FOOD

    Even one neighbor facing hunger is too many. This Giving Tuesday, give back to feed families.

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  • 2.  RE: Recording "Fee recovery" Amounts?

    Posted 12 days ago
    Since the extra $30 is voluntary and is offsetting your operating costs, it is an additional gift.

    John

    John H. Taylor
    Principal
    John H. Taylor Consulting, LLC
    2604 Sevier St.
    Durham, NC   27705
    919.816.5903 (cell/text)

    Serving the Advancement Community Since 1987






  • 3.  RE: Recording "Fee recovery" Amounts?

    Posted 12 days ago
    Mark, we had a long thread about this a week or two ago with more details and hypotheticals. You can read up on it here: https://connect.advserv.org/communities/community-home/digestviewer/viewthread?MessageKey=47989d46-d137-4151-80c9-585ba8b4b047&CommunityKey=f8ef77b1-79ed-4528-88d7-8866d65196aa&tab=digestviewer#bm47989d46-d137-4151-80c9-585ba8b4b047 

    However, if you're hoping to un-confuse yourself, John's advice is the way to go.


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

    Schedule a 30-minute consultation now:






  • 4.  RE: Recording "Fee recovery" Amounts?

    Posted 12 days ago

    Thanks Isaac!

     

    I remember seeing the thread last week – I'll go back and read it more carefully.

     

    Mark

     

    Mark Mathyer
    Director of Development Services
    mmathyer@gcfd.org | 773-843-2844
    4100 West Ann Lurie Place
    Chicago, IL 60632
    chicagosfoodbank.org

    WE BELIEVE A HEALTHY COMMUNITY STARTS WITH FOOD

    Even one neighbor facing hunger is too many. This Giving Tuesday, give back to feed families.

         

     

    DISCLAIMER
    The information contained in this email may be confidential, and has been sent for the sole use of the intended recipient(s). If you are not an intended recipient, you are hereby notified that any unauthorized review, use, disclosure, dissemination, distribution or copying of this communication, or any of its contents, is strictly prohibited. If you have received this communication in error, please contact the sender by reply email and destroy all copies of the original message.






  • 5.  RE: Recording "Fee recovery" Amounts?

    Posted 12 days ago

    Thanks John!

     

    Mark