Online Giving

[KPegram]

What is the best way to post online giving?

1. Post offering amount $200 (before fees) and update contributions module only. Then enter actual transaction after fees ($195.30) in the Fund Acct, Enter transactions?
or...
2. Post actual offering amount given ($200) in Contributions Module & Post to update Fund Accounting. Then enter transaction to reflect fees ($-4.70) only in Fund Accounting?
or...
3. A better suggestion...?

$200 - offering amount
$195.30 - after fees
$4.70 - fees

(I saw your emoticon when fees were mentioned on an earlier post.)
Thanks!

[wellspring]

The contributor should receive full credit for the contribution. We book the fee as a "Online Fees Expense". This is what one of our entries would look like:

Contributor receives full credit

Debit: Cash (checking account) - full contribution amount
Credit: Income Account - full contribution amount

Debit: Expense Account "Online Fees" - fee charged for online contribution
Credit: Cash (checking account) - fee charged for online contribution[/list]

[KPegram]

Thanks.