I have to refund a donation. Can I write the check and credit the checking and debit the income account? It seems this will not show up on the contribution statement at the end of the year. They gave the money and we deposited it. We need to return the donation to them.
Any advice?
Eileen
refund a donation
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Zorak
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I would think this would need to be a two step process... If you were just reversing the contribution, not needing to write a check, it would be easy. These, however, are two separate transactions.
* To fix the contributions statement *
Enter the same contribution again for this person, same date, fund, and make the dollar amount a negative.
Then post that contribution. When prompted "how" you would like to post this contribution, choose to Only Update The Contributions Module.
* Then, to record the check *
Go to Accounts Payable, write this person a check (you will need to create them as a vendor, if you haven't written them a check before)
Credit the bank, Debit the income.
This way, on your bank reconciliation, you will be able to match up the exact transactions that happened. Deposit was made in full amount, the check was written as a refund.
* To fix the contributions statement *
Enter the same contribution again for this person, same date, fund, and make the dollar amount a negative.
Then post that contribution. When prompted "how" you would like to post this contribution, choose to Only Update The Contributions Module.
* Then, to record the check *
Go to Accounts Payable, write this person a check (you will need to create them as a vendor, if you haven't written them a check before)
Credit the bank, Debit the income.
This way, on your bank reconciliation, you will be able to match up the exact transactions that happened. Deposit was made in full amount, the check was written as a refund.