Gifts are items that are donated to your library. Exchanges are items you receive from other libraries in exchange for material from your library. You can create purchase orders to track the items you receive as gifts and exchanges.
Follow these procedures for gifts and exchanges:
• | First, evaluate the worth of creating a purchase order for the gift. In some cases, it may cost more in staff time than the gift or the tracking of it is worth. |
• | Create a purchase order for the gift or exchange items. Enter a description of the source of the gift or exchange in the Note field. Add a line for the gift or exchange and enter its value in the Unit Price field. You can use the purchase order to record all gifts or exchanges received from the donor during a certain time period. |
Alternatively, you can create one or more budgets (with a budget amount of 0.00) for gifts and exchange items, and then assign the budgets to the line items. (However, be aware that this option will skew your total budget amounts.) If you do this, set the Spent Event field on the PO header to “Create Invoice at PO Line Approval (Prepaid)” so the Spent amount is updated when you add the lines to the purchase order and approve the proforma statement (without having to order, receive, and invoice the purchase order). The budget’s “spent” amount shows the total value of the gifts or exchange items.
• | Generally, you do not need to order, receive, or invoice gifts or exchange items. However, if the gift or exchange is for a continuous item (for example, the donor pays for a serial subscription), you do need to order and receive it, and then process claims for unreceived issues. In this case, the procedures are similar to those for subscriptions. |
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