adding brokerage account and showing donated securities (non-profit business)

SteveB108

I manage bookkeeping on Wave for our non-profit. We just opened a brokerage account so donors can donate securities. Wave does not allow auto-import of brokerage accounts.
1. So how do I add the account?
2. And when securities are donated, do I show their value in dollars as of the closing on the day they are received into our account?
3. And when we transfer cash from the brokerage account into our bank account (which does import entries into Wave), do I just show it as a transfer between banks? (As it will already have been shown as donation income).

Thanks for any help!
Steve

Mikeg

@SteveB108,
1. You will have to manually track the account since it cannot be connected to Wave. If your brokerage allows, you can download CSV files of the activity and import. Alternatively, you can make a monthly journal entry to reflect activity.
2. Assuming you are a qualified charity that enables donors to deduct contributions to your non-profit, the average price is used. Take the low and high for the day and divide by 2
3. If you are manually accounting for, you would record a disbursement with a description of "transfer to checking" or something like that. Now you would go to Accounting/Transactions and categorize the transaction by selecting Transfer to Bank, Credit card. It should find the matching transaction in the checking account.