New Payment

The ‘New Payment’ feature in the Finance Management module of Retention CRM allows Associations, Chambers of Commerce and Nonprofits to manually record a financial donation or contribution made by a donor or supporter. It provides a comprehensive form to capture all the essential details about the contribution and serves as a central location for managing individual donations.

General Functionality of ‘New Payment’ Feature

• Contributor Information: Identify the donor by selecting an existing contact or creating a new one. (Marked with *)
• Financial Details:
  • Financial Type: Specify the type of Payment, such as “Donation – General,” “Membership Fee,” or “Event Registration Fee.” (Marked with *)
  • Total Amount: Enter the donated amount. (Marked with *)
• Payment Details:
  • Payment Source: Indicate where the donor learned about the opportunity to give (e.g., “Website,” “Newsletter”).
  • Campaign: Associate the Payment with a specific fundraising campaign if applicable.
  • Payment Status: Set the status of the contribution (e.g., “Completed,” “Pending”).
  • Payment Date: Record the date the Payment was received.
  • Receipt Date: Enter the date a receipt was sent to the donor (optional).
• Payment Information:
  • Payment Method: Select the method used for the Payment (e.g., “Credit Card,” “Check”). (Marked with *)
  • Transaction ID: Enter the unique transaction ID provided by the payment processor (optional).
• Soft Credit: Assign partial credit for the donation to a specific fundraiser or volunteer who might have influenced the gift.
• Personal Campaign Page: Connect the Payment to a personalized fundraising page created by a supporter (optional).
• Honor Roll Recognition: Choose to display the donor’s name (optional) and add a personal note (optional) to the organization’s honor roll.
• Additional Details:
  • Payment Page: Link the Payment to a specific online donation form used by the donor (optional).
  • Notes: Add any relevant internal notes about the Payment.
  • Non-deductible Amount: Specify any portion of the donation that is not tax-deductible for the donor.
  • Fee Amount: Record any processing fees associated with the transaction.
  • Invoice ID & Credit Note ID: Include invoice or credit note identifiers for internal tracking (optional).
  • Thank-you Date: Track the date a thank-you message was sent to the donor.
  • Premium: Indicate if the donor received a premium item in exchange for their Payment.
  • Fulfilled: Mark whether any promised incentives or rewards have been delivered to the donor.

Using ‘New Payment’ Feature in Association Management

The New York State Nurses Association (NYSNA) is using the “New Payment” feature to record a donation from a member, Jane Doe. Here’s how they might utilize the options:

Contributor Information:

• Contributor: Jane Doe (Existing contact in NYSNA’s Retention CRM instance)

Financial Details:

• Financial Type: Donation – General
• Total Amount: $100

Payment Details:

• Payment Source: Website (Jane donated through the NYSNA website)
• Campaign: Nurses Education Fund (Jane specified this campaign during donation)
• Payment Status: Completed
• Payment Date: 2024-06-05 (The date Jane submitted the donation)

Payment Information:

• Payment Method: Credit Card

Additional Details:

• Payment Page: Donate to NYSNA (The specific donation form Jane used)
• Notes: (Optional – NYSNA can add any internal notes about the donation)

All other options in this scenario are not applicable.

More Use Cases for Associations

Membership Renewal Payments

When a member renews their membership by mail and sends a check, you can use “New Payment” to record their membership fee payment.

Event Registration Payments

If someone registers for an event over the phone and pays with a credit card over the phone, you can use “New Payment” to record their event registration fee.

Donation Payments at Events

If someone makes a donation at an association event, you can use “New Payment” to record their donation.

Event Sponsorship Payments

When a company sponsors an event and sends a check for their sponsorship fee, you can use “New Payment” to record the sponsorship payment.

By using the “New Payment” feature, Associations, Chambers and Nonprofit organizations can efficiently record Payments from their contacts, categorize it appropriately, and track its progress. This information helps manage member and donor relationships and acknowledge their support.