We are currently in the process of migrating from Raiser's Edge to Tessitura with launch in a month. I have searched through the community discussions and do not find any recent threads related to entering stock gain, stock loss, and broker fees to reconcile with Finance. The most recent thread I found was from 5 years ago. I am looking for more recent procedures for entering this information into Tessitura.
Tessitura's v16 Help System for contribution processing shows the custom data tab for fields to enter stock gain/loss value, stock name and # of shares. A co-worker who worked in Tessitura more than 10 years ago, suggested to create a constituent record with the name of "Stock Transactions" that would be used to enter gifts for the stock gain, broker fees, and stock loss with funds specific to those transactions so that they will reflect on GL reports.
Any suggestions or shared procedures would be appreciated.
Thank you,
Dawn
I would love to know what others do but we use different payment methods for this. Along with the normal Check payment method we have a Fees payment method and a Gain/Loss payment method. A stock transaction would have the actual check amount with the check number recorded and then a separte payment of +/- would go in as Gain/Loss payment and then a Fees payment method would be applied. I then record the specfics of the trade in the Notes tab of the Donation. I also keep a spreadsheet; mainly for our auditors. Probably not the best way to do it but it is a system I inherited. Accounting uses the Income by Payment Method Report.