We've had an donor give wine to be auctioned instead of cash gift this year. After the wine is sold, the cash is going to be transferred from the auction purchase GL to the annual fund GL. I not sure how we can record the auction purchases and the donation and transfer without something being off. Has anyone done something similar?
For example:
Is it possible to keep the records of auction purchases and make the GL match? I can't make a negative contribution to make it balance out. Any ideas would be appreciated!
Thanks,
Ann
Edit to clarify: We need to record John Smith as giving $2,500 Cash to the Annual fund, and need to record all the auction purchases for future knowledge.
So Auction would say $6,000 (but $3,500 in the bank) and Annual would say $2,500. We are double recording that money. Is there a way to mark that in Tessitura so we know why the bank is different?
Hey Ann,
For our auctions, we record the donated wine as In Kind from the donor and then the full purchase as an auction item contribution on the purchaser's record.
Mark
Yes, that's what we do normally. In this case part of the money those people paid is being transferred somewhere else.