Payment Method Gift In Kind

Gift In Kind payments have some variations that are described in more detail.

It is especially important to fill all fields the Gift in Kind payment is for a donation since the data prints on tax receipts

A gift in kind payment is used when you receive a material item ( i.e. non cash/card/check payments) like a donated desk, advertising, etc that needs to be allocated to a specific GL account. In all cases, you will need to provide a description, appraiser and address.
A gift in kind payment is a specialty payment method. It ALWAYS exists in the database (like cash or check). if you don't see it in your payment list, please enable it in code tables. It's short code will be ~GIFT.
Payment Method Description and instructions on use
Gift In Kind
  1. Select Gift In Kind from the Payment Method drop down.

  2. Verify the Payment Amount. If this will be a partial payment, change the payment amount. The Payment Amount will reflect the new amount due.
  3. Select the GL account for the payment method, normally an expense or asset account
  4. Enter a description of the Gift In Kind that you will be receiving as the payment. IT will be a tangible item and can be printed on the tax receipt if this is for a donation.
  5. Enter the Appraiser's name which is the proof of the value of the item. This can be a physical person, a company (in case of stock valuation), a web site you looked up, or an actual receipt provided by the patron.
  6. Appraisers Address is the means by which you can contact the person again for the valuation. It could be the physical street address, web site, or location of the actual receipt

Gift In Kind Payment

A gift in kind payment is used when you receive a material item ( i.e. non cash/card/check payments) like a donated desk, advertising, etc that needs to be allocated to a specific GL account. In all cases, you will need to provide a description, appraiser and address.

If a Gift in Kind payment is used to pay for a donation, it is important to fill out the description and appraiser because they will appear on the tax receipts. Refer to your tax accountant/government rules as to appraiser requirements. Some places allow self appraisal and others only allow that to a certain dollar amount. In some cases cash receipt or internet page showing current price is valid.

To add a Gift In Kind payment, you perform the following steps:

  1. Selecting the Payment button in the Order window.

    The Order window can be accessed through the Orders Tab or when Purchasing tickets. Click here for a detailed description of this window and it's functions.

  2. Select Gift in Kind from the Payment Method pull down menu.

  3. Fill in the Gift in Kind field with a brief description of what the gift is.
  4. Select the G/L account you wish to charge the item to.

    A G/L number can be typed directly into the field or the Account Lookup button to select the account from the list of GL accounts. Double click the account or click the Select button to accept the account.

  5. Fill in the appraiser's name.

    This may be required for audit purposes or for printing on tax receipts if the payment is for a donation.

  6. Click the Accept Payment button to complete the payment.
For Quick Reference Information on Gifts In Kind, You can download a Screencast (online video demonstrations of the functions with narration).

Flash ScreenCast

MP4 ScreenCast