Revenue Coding
Society revenue folders are found here.
- Cheque deposits are made on Friday, so be sure to check the folders regularly, especially on Thursdays.
Determining the Recipient of the Payment
- Inspect the cheque or any accompanying documentation to determine which project the payment is for.
For EFTs, you may need to read the fine print for clues, e.g., a government department or program. You may also find more details on the funder's remittance email or notice from the project specialist or coordinator, if applicable.
- The Donations and Revenue Coordinator is responsible for processing Donation revenue types. If you come across a small amount from an individual, anything that says donation, reimbursement, etc. in the Society Revenue folder, move it to the folder called Donations Coordinator to Review (No Awards or Grant).
Matching Payments to Salesforce Records
When reviewing payments in the revenue folder, you can use a few different methods to find and match each one to its expected payment in Salesforce.
- Check the Outstanding Payments Salesforce report for any matching payments: https://makeway.lightning.force.com/lightning/r/Report/00O3i000003I5AdEAK/view?queryScope=userFolders
- Do a global search in Salesforce for any special details of the payment, e.g. project name, reference number, or invoice number. Otherwise search for the account or open opportunities to look for a matching payment amount. Sometimes you can search reference numbers/codes/funding programs to find an exact match.
No luck?
- If no related opportunity is found in Salesforce and it doesn’t sound like a donation, check with the project specialist. While you are problem-solving, add a comment to the document in Box to say something like "under review, do not process".
- If you think you have found the correct opportunity, but it’s still in the Proposal Submitted stage, confirm with the project specialist and ask for any documentation for the file.
Rename Payment Files in Box
- Rename payment file following this format:
P0XXX [Funder] Payment [ddmmmyy]
Filing Payment Documentation
- File any payment documentation on the corresponding Salesforce opportunity. The Finance Advisor needs to see this before they approve the payments.
Complete Payment Details and Submit for Approval
- Navigate to the Payment on the relevant opportunity by selecting the Related tab and scrolling down to the Payments section.
- Click on the relevant Payment Number
- Fill in payment details:
- Payment Amount: Update the payment amount received if it's different than what was originally entered in Salesforce (e.g. if a wire fee deducted or USD conversion)
- Foreign Currency amount, if applicable
- Payment Date: Update payment date to either the date the EFT was received, or the upcoming Friday for cheques
- Cheque Number (if applicable)
- Payment Method
- Source Distribution (only applicable for grants from MakeWay Foundation). See Grants from MakeWay Foundation
- Finance Lead: This field should auto-populate with the finance lead based on the project's fund role. Confirm that it's correct if you aren't sure.
- Note: for Services-In-Kind opportunity types, the Finance Lead should always be Irene.
- If it is the first or only payment on the opportunity, you must also update the Closed Won date to match the payment date (EFTs only)
- Submit for Approval, including any comments for the Finance Advisor
- Move payment to the Completed folder
If you need to correct a submission after you've submitted for approval, you can use the Recall button to recall the payment submission.
At this stage, ensure Contact fields on Salesforce Opportunity are completed. See Primary and Receipt Contact Process for additional information.
Share Accompanying Letters with Project + Support Team
If there's a grant agreement letter, notification letter, or other attachment to the payment, send a copy to the project director and project specialist.
Intra-company Grants
For grants from one project to another, see the Intra-company Grants article.