GiftSync for QuickBooks

GiftSync seamlessly captures Stripe settlements by linking each donation to its corresponding settlement event, ensuring your financial records align with bank statements. Only settled gifts are sent to your accounting system, and GiftSync includes Stripe’s transaction costs in the process, automatically generating journal entries to allocate funds to the appropriate Virtuous projects. This streamlined approach ensures accurate bookkeeping and compliance, with detailed reporting available to track settlements and journals by date, gift ID, or donor.

An invoice is created for each Stripe settlement. There may be more than one Stripe settlement in a day.

GiftSync simplifies the processing of manual payments (Bank Transfer Donations, Cheques, Cash, EFT, and EFTPOS) by importing bank transaction data via CSV files and using configurable rules, combined with Virtuous data, to quickly identify donors and match recurring donations. This enhances Virtuous Gift and Contact Import tools, saving time on data entry, and generates daily invoices and journal entries aligned with gift splits and Virtuous projects. Comprehensive reporting tracks donations, settlements, and journals, ensuring accuracy and audit readiness.

Invoices are automatically generated after the Bank Transactions CSV is processed and gifts are imported into Virtuous via the Gift Import Tool. GiftSync runs automatically daily to generate the required invoice and journal records. Each gift is itemized as a separate line on the invoice, ensuring transparency and traceability for accounting, donor management, or compliance.

If a significant donation amount is reassigned to a new project or campaign, GiftSync sends an email detailing the change, including the amount and affected projects. This can happen if a project’s financial settings (e.g., chart of accounts) are updated in Virtuous or a substantial donation is realigned. GiftSync automatically generates new journal entries, dated on the day of the change, to record the reallocation, while preserving existing journal entries and invoices.

GiftSync preserves existing journal entries and invoices, creating new journal entries dated on the day of the change to reflect the updated allocation.

GiftSync allows you to create an unlimited number of user accounts, enabling your team to collaborate seamlessly on donation and accounting tasks.

GiftSync supports all donation platforms that use Stripe to process payments.

In addition to the annual subscription fee, GiftSync charges fees proportional to the value of donations processed. No other fees apply for features like user accounts or journal entries. For detailed pricing information, including subscription plans and per-donation fee structures, please click contact us.