How do I Cancel, Reverse or Adjust a Gift?

There are two options to resolve a gift created in error. The first option will discuss how to reverse a gift and the second option will discuss how to adjust a gift. Please read through the instructions thoroughly to determine which best fits your scenario.

If a Gift is posted in error or if you entered it twice and need to reverse the second instance, use the Gift Reversal routine to create a reversal Gift that will cancel out both the original Gift in Gifts module, and in the General Ledger.  

Important: Never make the reversing entry directly in General Ledger. Always use the Gift Reversal routine.

This routine will correct both Gift History and General Ledger keeping the information synchronized between the modules.

1. In the Gifts module, click the Gift History supertab.
2. Use the Gift History Browser to locate the Gift that has an error.
3. Select the desired Gift in the browser and then click the Adjustment tab.
4. Read the text on the Adjustment tab that describes the adjustment process.
5. Click the Reverse Gift button.
6. The Gift Reversal Date window opens. Enter the Reversal Date you want to use to reverse the Gift. 
7. Click OK
8. FIMS will create an un-posted adjusted gift that will be created in the Un-posted Gifts tab.
9. Post the adjusted gift record and now reversal will be complete.

Additional information:

• If the period is still open in General Ledger, you should enter the original Gift Date in this field. If that period is not open, enter a date from the current period. Click OK . FIMS creates a reversal Gift in Unposted Gifts.   Run the edit and post the reversal Gift.   Your changes will not affect General Ledger or update Gift History until you post.
• The reversal will not be included in the Gift Acknowledgement Export.  
• The title bar for the Gift indicates whether it is the original Gift or the reversal. The original Gift's title bar will display the Gift number for the reversal Gift, and the reversal title bars will display the Gift number for the original Gift.  
• After reversing the Gift, the original Gift will get an Adjustment Type code of S (source gift).  The reversing Gift will get an Adjustment Type code of R (reversal).

If the Gift has a mistake in the gift date, donor idcode, GL accounts used  or Fund, then you will want to adjust the gift:

• If a Gift is posted with an error, you must correct it in gift history and post the changes to the GL
• If the errors are Donor or Fund related (financial data), use the Gift Adjustment routine.  
• If the errors are in the Gift coding or text fields, you can make the changes directly on the Gift tab (Gift History supertab). (The fields are still available for modification)

Important: Never make Gift corrections directly in General Ledger. Always use the Gift Adjustment routine. This routine will correct both Gift History and General Ledger - keeping the information synchronized between the modules.

1. In the Gifts module, click the Gift History supertab.
2. Use the Gift History Browser to locate the Gift that has an error.
3. Select the desired Gift in the browser and then click the Adjustment tab.
4. Read the text on the Adjustment tab that describes the adjustment process.
5. Click the Adjust Gift button.
6. The Gift Adjustment Date window opens.
7. Enter the Reversal Date you want to use to reverse the Gift. (Note: If the period is still open in General Ledger, you should enter the original Gift Date in this field. If that period is not open, enter a date from the current period. Choose your dates wisely.)
8. Enter the desired Adjustment Date.
9. The default value is today's date, but you can enter a different date if necessary.
10. Click OK.
11. The Gift tab opens, where you can make the necessary adjustments (for example, changing the Fund ID or entering a different amount).  
12. Make the desired changes, and then click the Save button on the toolbar.
13. FIMS creates two new unposted Gift records: a reversal Gift to cancel out the original Gift, and an adjusted Gift to replace the original Gift.
14. After reviewing the records, run the edit report, and post the reversal and adjustment. (Note: Your changes will not affect General Ledger or update Gift History until you post.)

Note: The reversal and adjustment will not be included in the Gift Acknowledgement Export.

Note: The title bar for the Gift indicates whether it is the original Gift, a reversal, or an adjusted Gift. The original Gift's title bar will display the Gift number for the adjusted Gift, and the reversal and adjustment title bars will display the Gift number for the original Gift.  

• After adjusting the Gift, the original Gift will get an Adjustment Type code of S (source gift). 
• The reversing Gift will get an Adjustment Type code of R (reversal). 
• The new adjusted Gift will get an Adjustment Type code of A.

Tip: Reversals and Adjustments: While the adjustment and/or reversal are still unposted, if you determine that an error was made (e.g. wrong reversal date), simply delete one of the records and the other will disappear.   Then start the process over.