Post Gift Aid Tax Claims to General Ledger

Your organization can post gifts on a regular basis while accounting for Gift Aid in a separate general ledger account. For example, your organization posts to the general ledger daily to account for gifts received each day. You run the R68 process to create Gift Aid tax claims for eligible gifts on a monthly or quarterly basis. When you run the R68 process, the system calculates and stores Gift Aid tax claim in a separate account until you are ready to post to the general ledger again. After you receive tax claim from Her Majesty Revenue & Customs (HMRC), you can reconcile the tax claims in your third-party financial system.

Note: You can define the type of revenue to be debited and credited for Gift Aid in Administration. To access the Transaction Mappings page, select an account system from the General Ledger Setup page. From an account system page, click Define Transaction Mappings. You must map a Gift Aid account before you can commit an R68 process. For more information, refer to Define Transaction Mappings.

When you post a gift to the general ledger that is eligible for Gift Aid, you can view the gift’s potential tax claim amount, tax claim eligibility, and Gift Aid qualification status. You can view these details from the Details tab of the revenue transaction. To calculate tax claim on the gift and assign the gift a tax claim number, run the R68 process and include the applicable gift. When the tax claim is created, the R68 process creates the necessary GL distributions to post the Gift Aid amount. You can view Gift Aid GL distributions on the GL Distributions tab of the payment record. The distributions display a status of "Not posted."

To post tax claim that appears in this grid to the general ledger, run the Post to GL process again. Gift Aid tax claims now include a status of "Posted." When you receive tax claim from HMRC, you can reconcile the tax claims in your third-party financial system.

When the R68 process includes refunds, GL distribution reversals are created for payment applications. These refunds are included the next time you run the Post to GL process.

Warning: When a payment has a post status of "Do Not Post," related Gift Aid on the applications will not be posted.

Warning: When an R68 process is run and includes Gift Aid for a payment with a post status of "Do Not Post," you may decide to edit the payment to allow for posting. If so, when you edit and save the payment, the system searches for applications without GL distributions but with previously claimed Gift Aid. When you save the payment, GL distributions are then created for the payment.