Created with Sketch.Learn about PPP and Loan Forgiveness, stay informed with the latest changes.
Created with Sketch.Questions about how to close your books for 2020? Visit our Year End Resources page.
Created with Sketch.New to QuickBooks or using a new product? Visit our Get Started resource page to help you get going.
Created with Sketch.Need to make changes to your account? Visit the Account Manager Portal.
cancel
Showing results for 
Search instead for 
Did you mean: 
Level 1

Network For Good payment processing

Our NFP has started using Network For Good as a Donor Management System.  

NFG post receipts daily, but pays monthly in the next months banking cycle.

1.) Anyway to post receipts to a Accounts Receivable accounts in NFG name and then follow up with funds, so that current months transaction clear unapplied funds and appear in current months income?

2.) And NFG allows the donor to pay the bank processing fees on their donation.  NFG sends a daily receipt transaction with the donation, the banking fee paid on the donation, and an (negative) offset to the fee donated.  The negative offset/fee has no where to go in the receipt processing as the negative will not post on the backend, as I cant use an expense account as a receipt item in the receipt screen.

 

Any suggestions?

5 Comments
Moderator

Network For Good payment processing

I might have a way to get through with the situation, LeatherDog.

 

If I understand the scenario correctly, here are the steps that I'll take to achieve what you want with the transactions:

  1. When recording the receipts from NFG, you can enter them as invoices in QBO. You can use this link for reference: Create invoices in QuickBooks Online.
  2. When you receive the payments by the end of the month, make sure you deposit them to the Undeposited Funds: Deposit payments into the Undeposited Funds account in QuickBooks Online.
  3. To deduct the bank fees, you can do it while creating a bank deposit. You can refer to the Include bank or processing fees section for the detailed steps: Record and make bank deposits in QuickBooks Online.

If you're referring to something else, additional details about it would be much appreciated.

Level 1

Network For Good payment processing

The issue for NFG is they send a preformatted feed as a Sales Receipt, so I would have to delete every transaction and re-enter it as an Invoice. 

In that transaction, they have a negative amount for the fee they charge for the payment processing, which is not congruent with a Sales Receipt to have a negative product/service posting item.  Again, I would have to go through each transaction and delete the negative fee, which is what I had to do the first month.

EX:

A donor who makes a $100 donation, and then also covers the credit card processing fee of $3 creates a Sales Receipt as follows:

Donation     General          $100

Donation   Credit Card Fee   $3

Credit Card Fee                     ($3)

The NET donation we receive is $100, but since the two donations ($100 and $3) pick up and the Credit Card Fee charge drops off, we get $103 posted to income.

 

They advertise their system is compatible with QBO, but they can't tell me what to do with the negative  Credit Card Fee amount to get it to post in their standard transaction file. QBO online will process the Sales Receipt, the negative fee just gets discarded and doesn't post as an expense (as it's coming through as a Sales Receipt, not an expense)

Level 1

Network For Good payment processing

The issue for NFG is they send a preformatted feed as a Sales Receipt, so I would have to delete every transaction and re-enter it as an Invoice. 

In that transaction, they have a negative amount for the fee they charge for the payment processing, which is not congruent with a Sales Receipt to have a negative product/service posting item.  Again, I would have to go through each transaction and delete the negative fee, which is what I had to do the first month.

EX:

A donor who makes a $100 donation, and then also covers the credit card processing fee of $3 creates a Sales Receipt as follows:

Donation     General          $100

Donation   Credit Card Fee   $3

Credit Card Fee                     ($3)

The NET donation we receive is $100, but since the two donations ($100 and $3) pick up and the Credit Card Fee charge drops off, we get $103 posted to income.

 

They advertise their system is compatible with QBO, but they can't tell me what to do with the negative  Credit Card Fee amount to get it to post in their standard transaction file. QBO online will process the Sales Receipt, the negative fee just gets discarded and doesn't post as an expense (as it's coming through as a Sales Receipt, not an expense)

QuickBooks Team

Network For Good payment processing

I can provide the steps on how to handle the transaction in QuickBooks Online, LeatherDog.

 

You can record the $103 donations as an invoice. Then, receive a full amount and deposit it to the Undeposited Funds account. This way, you have a $103 income for  your sales. See the attached screenshot below for your visual guide.

 

 

After that, navigate the Bank Deposit feature so you can add a line item for the processing fee. Enter a negative amount to deduct it and post it to the right bank account.

 

 

On the other hand, I recommend contacting NFG and check with them if there's a setting that won't discard the negative amount moving forward.

 

I also check from our QuickBooks App store that NFG isn't supported with QuickBooks. You can look for another third-party app that is already integrated with us through the said store.

 

Stay in touch with me  by commenting below if you have follow-up questions about the solution I've shared above. Just tag my name, and I'll get back to you @LeatherDog.

Level 1

Network For Good payment processing

Thanks, but the data file that NFG sends, posts as a "Sales Receipt", so I would have to Void every automated posting, and then manually re-enter as an Invoice, as I don't think QB will let me just change the type from Sales Receipt to an Invoice. NFG's automation doesn't seem to sync with QBO functionality?  Unfortunately, NFG can't explain how their users utilise/process the file data.  Makes their data feed pretty much useless, unless I let it post the full $103, discard the Credit Card Fee ($3), which will not post on a Sales Receipt file, and then add up the monthly Credit Card Fees and do a JE from Donation Income and Expenses off to our Banking Fees and Charges account.

Need to get in touch?

Contact us