Posting Gift Payments to Receivables
 

Set Donor/Customer receivable balances in Business Central and manage with CRM’s Gifts entity.

Setup

1. Locate the Contact record in Business Central that corresponds to the party owing the receivable.
   
2.  Promote the Contact to a Customer by selecting Actions > Functions > Create as > Customer.
   
   
3. Open the Donor/Customer record and update the Customer Posting Group to be the posting group that represents the G/L account balance we wish to adjust (in this example we want A Beautiful Me Inc. to carry a Loans Receivable balance: G/L account 1310).
   
    

1. Navigate to Finance > General Journals and choose the Default journal.
   
   

2. Create an entry that debits the customer record created earlier and credits the appropriate account. If the receivable balance is already booked, use the receivable G/L account (in my example account 1310, loans receivable). Post when ready.
   
    

1. G/L Entries: Since the customer has a posting group which utilizes a receivable account, that receivable account will be debited in G/L entries. We’ll find it balanced against the credit account from our general journal entry (In my example I used the receivable account as my credit account. This results in a net zero entry to account 1310, Loans Receivable).
   
2. Donor/Customer: The donor/customer is carrying a balance equal to what is still owed by that entity.
   
    

important things to consider

1. From CRM, open the Donor record owing the receivable and choose New Gift. Complete the Gift form per your organization's internal processes.
   
    
2. Open the Gift Payment and update the Account to be your desired receivable account. Update the Receivable Account to be a revenue or expense account (in my example I choose 4010: Contributions Spendable).
   

3. Fiscal transfer the payment to Business Central using either the Execute or Send to Accounting Button.
   
   

1. G/L Entries: The receivable account (Account from the gift payment) will receive a credit, reducing its value. Undeposited Funds (account 19999) will receive a debit, indicating there is an amount to deposit. The account listed as the Receivable Account on the gift payment receives an equal debit and credit, netting to zero.
   
2. Donor/Customer: The donor/customer is reduced by the amount of the gift payment.