Giving won't replace your general ledger, so you'll still need a basic bookkeeping software to handle your payable and receivable accounts.
Giving has a basic CSV export that should be importable by your general ledger. However, we advise against keeping every individual donation in your general ledger. Instead, use journaled entries in your general ledger and leave the individual gifts in Giving.
In practice, here's how Giving fits into your workflow, along with your general ledger (GL):
Batches for Checks, Cash & Payment Sources
Donations are collected by your staff, divided into batches, and counted (in either individual batches or in batch groups). When everything is counted, your batches and batch groups are committed. If your batch represented a physical deposit to your bank, then that deposit will need to be entered into your GL. This entry in your GL will be a journaled entry, referencing the batch or batch group in Giving.
Batches are also used for tracking external Payment Sources, such as PushPay, F1, PayPal or any other systems you might have in place for receiving donatons. This allows you to keep track of all donor activity in one place and provides a single application from which to issue Donor Statements. Depending on what your church uses as Payment Sources, these may or may not need to be tracked within your GL.
Stripe Payouts for Cards & ACH
Credit/debit card and ACH donations occur outside of the batch processing. They can happen any time and are initiated by the donor directly. Every few days, Stripe will automatically deposit these donations into a single transfer. When the deposit posts to your bank account, you can enter it into your general ledger and balance that entry with the matching Payout Report.
For a detailed view of Giving income for each Stripe Payout, you can use the Stripe Payout Report in Giving. This will include an itemized list of donations in the selected payout.
For an overview of Registrations, Giving, and Other Stripe Income for each Stripe Payout, you can use the Stripe Payout Report in Accounts. This will include Registrations totals for each event, and Giving totals broken down by fund.
You should have two types of entries in your general ledger:
- Stripe deposits - These are all the online donations.
- Batches (or batch groups) - These are all the check and cash donations that have been counted in batches.
In your general ledger you'll only need to record something like this:
- Giving: Stripe Deposit - 7/29/2017
- Giving: Stripe Deposit - 7/28/2017
- Giving: Batched Group #74 - 7/26/2017
- Giving: Stripe Deposit - 7/25/2017
- Giving: Stripe Deposit - 7/24/2017
- Giving: Stripe Deposit - 7/23/2017
- Giving: Stripe Deposit - 7/21/2017
- Giving: Batched Group #73 - 7/21/2017