Option for OJC, Pledger, Donors Fund Etc. transaction fee in the payment column

Question

We are lately getting a lot of donor-advised funds like OJC, Pledger, and Donors Fund, but when the actual check or wire arrives, it doesn’t match up with our deposit.

So let’s say a donor gives us a coupon for a $1000 voucher. We credit him $1000, but the check is $998, so we are currently short $2 on our deposit, and this can be with multiple daily transactions, and each may have a different fee.

It is challenging to match the deposit report or consolidate our bank statement.

(It is different from a credit card charge. We get 1000 in the bank and get a monthly charges fee)

I suggest the payment line have a column Field where you can enter the payment amount (like $1000) and a column where you can enter the actual payment amount (like $998). If the actual payment amount column is filled, the deposit report will pull in that payment of $998.

Does anybody have the same challenge?

(I am aware that you added a field QB Expense amount. I am asking to add to the payment line )

Comments

When will the fee column be available?

An alternative may be to enter the full original donation, & then enter a negative adjustment to an "expense" campaign on the next line

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Its there since September of 21

https://jlssolutions.com/QA/195056/add-an-expense-fee-to-qb-a-deposit?show=195056#q195056

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Is there a possibility to have the QuickBooks expense line also calculate By a percentage

Donors Fund, Pledger, Nadven(ojc) mostly take 3%

Answer 1

The amount in not known when entering payments. Only when making the deposit. And we have that QB expense column for this situation.

Comments

Yes, the amount is known because we enter a pledge of 1000, and when the check arrives, we enter the payment of $998. At the time when the check is entered, we see the amount.

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When you enter the payment you cant know yet how much the fee will be , So how can you do it ,

We do that when you get the actual deposit report from OJC , We add the fee then as a bank fee

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when a person gives us the voucher, we enter the pledge of 1000

when the check or wire arrives, we then enter the payment

so the Donors pelage of 1000 must get offset by 1000, but the actual deposit is for 998 so an additional field of actual payment would solve this problem.

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I don't understand, when you make the deposit into OJC they tell you how much money you will get into your account.

When you make your deposit in JL you enter that amount - fee into the QB Expense.

The deduction is no different the a credit card fee except that the deduction happens right away.

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clearly, you don't understand this; ojc doesn't tell you how much money is being charged as a fee before you receive the money  

we currently don't use the quick book integration in JL, So QB Expense isn't relevant

and it's not the same as a credit card because, on a credit card, you charge 100, you get 100, ojc you charge 100, and you don't get most times 100, so you can't make the deposit if it doesn't match.

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If you dont use the integration, where does it come up that it bothers you that its the wrong amount?

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By Ojc , Lets say you have a total from $1000 Certificates , You enter in Jl $1000 and in QuickBooks by the income you will only enter the amount you actually got .

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As per our conversation with P Mayer.

The real issue is the way OJC handles the funds, even with an option in the account it will not suffice since there can be other fees, such as the ACH fee.

We can however add the expense amount on the deposit report to reflect the correct deposited amount.

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Thank you

Answer 2

Is there a possibility to have the QuickBooks expense line also calculate By a percentage

Donors Fund, Pledger, Nadven(ojc) mostly take 3%