If you receive donations in multiple currencies from international donors, Sumac is able to capture the amount they gave, and the original currency used for the amount they gave.
You can indicate conversion rates for each different currency you accept so that Sumac can calculate the amount you received in the currency you use. For example, if you work in USD and track money in USD, but get a donation from an international donor in EUR, you can record the amount donated in EUR, and Sumac can calculate the amount received in USD.
Before you can use this capability, you should configure two customization options in your database:
1) Define Currencies: Log into Sumac as an Administrator. From the main Sumac console, click Utilities > Customize Database > Lookup Lists. Choose the Area: Donations, then choose the Lookup List: Currencies. Click New to define a currency, and its conversion factor. Continue these steps for each different currency that your donors might use when making donations to your organization.
2) Activate the Original Currency Field: Log into Sumac as an Administrator. From the main Sumac console, click Utilities > Customize Database > Field Preferences. Under Fundraising, click "Donation," and next to "Original Currency," ensure there is no "X" in the Hide option. You might also want to rename this field to something other than "Original Currency" (for example, perhaps "Currency donor used" is more meaningful to you than "Original Currency), or you may want to make this field Mandatory if you frequently receive donations in multiple currencies. Click OK to save these changes.
Once you've made those adjustments, restart Sumac for these changes to take effect!
How does Sumac process payments in multiple currencies?
To be able to track contacts from different countries and process payments for them in their local currency, use a feature of Sumac called Segments. In Sumac, you can group contacts together under different segments, and you can define as many ...
Can you split donations across multiple funds?
A donation can be split into multiple funds if you enter the donation info into Sumac manually. In the Donation Record, there is a “Fund” field that allows you to specify that the donation should be allocated to a fund, or if it should be allocated ...
Can I use multiple databases to segment my contact list?
Sumac stores data in one main database. However, Sumac can readily segment your database into multiple groups. For example, some Sumac customers keep their donor contacts in one segment and their client contacts in another segment because they need ...
Sumac CRM - Sumac Basics - Virtual Instructor-led Training October 22, 2021
The video below shows a slightly older version of Sumac, In a recent release, we added a new Simple Search option which is not shown in the video. To expand the search options, click "Advanced Search" (see screenshot below): "Advanced Search" enables ...
Can you track donations by church envelope number?
You can track envelope numbers in contact records. We recommend doing this by adding an extra field to contact records called "Church Envelope Number," for example, and put the envelope number for each donor into this field in their contact record. ...