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Our giving program – July to Sept 2017 report

Our giving program has been running for one whole quarter so far. It’s a very simple program and very easy to administer. Here are the results for the July to September 2017 period. *Spoiler alert* – the charities win out! 😆

Before looking at the results, here’s a reminder about how this giving program works.  Our business donates $50 per month to each of our 4 chosen charities. At the same time we are keeping a tally of 2% of each client sales invoice which will be offset against our $200 monthly gift. If the total of client invoice deductions is more than the quarterly total donated, we will send the excess to one of the charities. If it is less, then we can be satisfied that our monthly donations are covering client invoice deductions. More than this, however, if the latter occurs, e-BAS Accounts cannot claim a tax deduction for the donation as the offset amount from client invoicing makes the donation null and void. Clear as mud? Okay, let’s take a look at the results – the figures should make this easier to understand.

 

July to September 2017 Donations

 

Donations Quarterly Report

MONTH2% OF CLIENT INVOICESE-BAS MONTHLY PREPAID DONATIONSVARIANCENOTES
July 2017$201.43$200.00$1.43
August 2017$463.97$200.00$263.97
September 2017$230.99$200.00$30.99
TOTAL$896.39$600.00$296.39This amount to be donated to Orange Sky Laundry
October 2017$210.05$200.00$10.05
November 2017$346.22$200.00$146.22
December 2017$272.43$200.00$72.43
TOTAL$828.70$600.00$228.70This amount to be donated to St Vincent de Paul

 

Report Summary

Basically, the table above shows that for the quarter ended September 30 2017, more funds were donated from client invoicing than were prepaid by us – $296.39 to be exact! This is good news for the charities because it means they will receive a bigger donation from us and our clients. As there are 4 quarters and 4 charities, we have decided to donate the full amount to one charity each quarter rather than split it between each one. This time, we will donate the excess amount to Orange Sky Laundry. We will also send our clients a report showing these results so that they can see how the program is progressing because let’s face it, without them, none of this would be possible. We are very blessed.