Tagged: DAF, individual, recognition
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DAF Gifts: Budget/Financial Docs vs Fundraising Report Confusion
Wade_Rogers_Forum_Moderator replied 1 year, 6 months ago 17 Members · 18 Replies
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One way to handle it in the accounting records is to utilize tracking categories. For example:
- In Xero, use
Department and Location tracking codes. - In Quickbooks, use Class, Sub-class or Jobs tracking codes.
When you submit financial statements to the Board, present the following:
- Financial statement
following the Generally Accepted Accounting Principles (GAAP), which will
show Annual Fund at $36,000 and other Revenue accounts, including DAF, at
different amounts.
- Financial statements
specifically for Annual Fund showing the revenues and expenses of the
annual fund. This will show the sources of revenues that match with Sales
Force. This is how we tracked our programs/grants.
- In Xero, use
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I want to thank everyone for their input. I’ve forwarded the thoughts and suggestions in this thread on to our Executive Director and Associate Director to share with our board finance committee. It has helped me to wrap my head around various solutions and how to communicate those solutions.
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Glad to hear it Joseph and thanks again to all who have participated!
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