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Entering an In-Kind Gift

In-kind gifts refer to donations of goods and services, as opposed to gifts of cash or stock. Our best practice for recording an In-Kind gift follows the normal gift entry process in akoyaGO. For further instructions on entering Gifts in akoyaGO, reference this Knowledge Article.


  Entering Gift and Gift Payment Details in akoyaGO CRM for In-Kind Gifts

If using the Gift Quick Create form, follow your normal process to enter a gift. The gift payment type must be marked in-kind. This differentiates this gift payment as in-kind and will cause akoyaGO CRM not to automatically transfer the information to Business Central.

Once the Gift and Gift Payment(s) have been created, follow your normal process of sending the In-Kind Gift Payment to accounting. You will notice the Payment Status updates to In-Kind, so your Gift Payment will no longer appear on your Send to Accounting View. However, it will not transfer to Business Central, as noted above.

  In-Kind Gift Payment towards Larger Gift Including Cash/Stock 

If only part of a gift is In-Kind, you can signify this by breaking the gift into multiple payments. For example, my foundation received a $100 cash gift along with a donation of supplies equivalent to $50.

The Gift Commitment is the total public-facing promise of the gift. The Gift Commitment should always equal the total of the Gift Payment Amounts. In this example, the Gift Commitment = In-Kind Gift Payment Amount + Cash Gift Payment Amount, for a total of $150.

The Gift will be broken into two Gift Payments:

1. Gift Payment Type = Cash, Amount = $100. This Gift Payment will be sent to accounting and will be transferred to Business Central.

2. Gift Payment Type = In-Kind, Amount = $50. This Gift Payment will not transfer to Business Central when you click the send to accounting button.


Please note: If using the Gift Quick Create form, you can only assign one Payment Type. If you are entering multiple payments towards the same Gift with different Payment Types, you will need to open one of them to adjust the Payment Type accordingly.


 Processing In-Kind Gifts in Business Central

Gift payments where the Payment Type = In-Kind do not transfer to Business Central. If you want the activity to be reflected in the general ledger you will need to make a journal entry. (For guidance on which accounts to use, consult with your CPA/Auditor.) You should include the Gift and Gift Payment numbers, so it is clear which entries in akoyaGO CRM correspond with this journal entry.