Questions: How can historical gift amounts in Fundriver be corrected to agree with gift records without impacting market values (already reconciled and aligned with current investment manager statements)? What period should the corrections be made in? How do we record stock gifts going forward?
1. There are two options for correcting historical gifts. First, log in to Fundriver and click on ACTIVITY.
2. Click on TRANSACTION ENTRY.
3. The first way to correct would be to record a single transaction: Choose Non-Cash Principal Transfer.
This method willadjust the historical cost of a fund and have no cash impact.
4. Search for the endowment to which you want to apply the transfer.
5. Enter other applicable information, including amount, and click SAVE.
6. The second option for making this correction would be to record two transactions. Using the steps above, create two transaction records, one with a type of HG CASH TRANSFER and one with a type of INTERNAL TRANSFER.
This approach is recommended if you want to show both sides of the journal entry (more transparent).