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How do Donations reach a Charity? (Charity Payment process)

In Australia and New Zealand, GoFundraise pays out funds to beneficiaries on the platform fortnightly - referred to as a Charity Payment (CP). See below for payout schedule and what financial records are provided with each payout.

 

Payout Schedule

Funds are normally paid out 10 days after the end date of a payment period. Below is the expected payout schedule with funds usually paid out the week commencing the date listed:

 

FY 2021-2022 Payout Schedule

CP Range Name Start Date   End Date   Paid out week commencing*
26 CP 12621-30621 12/06/2021 Sat 30/06/2021 Wed 7/07/2021
1 CP 1721-9721 1/07/2021 Thu 9/07/2021 Fri 19/07/2021
2 CP 10721-23721 10/07/2021 Sat 23/07/2021 Fri 2/08/2021
3 CP 24721-6821 24/07/2021 Sat 6/08/2021 Fri 16/08/2021
4 CP 7821-20821 7/08/2021 Sat 20/08/2021 Fri 30/08/2021
5 CP 21821-3921 21/08/2021 Sat 3/09/2021 Fri 13/09/2021
6 CP 4921-17921 4/09/2021 Sat 17/09/2021 Fri 27/09/2021
7 CP 18921-11021 18/09/2021 Sat 1/10/2021 Fri 11/10/2021
8 CP 21021-151021 2/10/2021 Sat 15/10/2021 Fri 25/10/2021
9 CP 161021-291021 16/10/2021 Sat 29/10/2021 Fri 8/11/2021
10 CP 301021-121121 30/10/2021 Sat 12/11/2021 Fri 22/11/2021
11 CP 131121-261121 13/11/2021 Sat 26/11/2021 Fri 6/12/2021
12 CP 271121-101221 27/11/2021 Sat 10/12/2021 Fri 20/12/2021
13 CP 111221-241221 11/12/2021 Sat 24/12/2021 Fri 3/01/2022
14 CP 251221-7121 25/12/2021 Sat 7/01/2022 Fri 17/01/2022
15 CP 8121-21121 8/01/2022 Sat 21/01/2022 Fri 31/01/2022
16 CP 22121-4221 22/01/2022 Sat 4/02/2022 Fri 14/02/2022
17 CP 5221-18221 5/02/2022 Sat 18/02/2022 Fri 28/02/2022
18 CP 19221-4321 19/02/2022 Sat 4/03/2022 Fri 14/03/2022
19 CP 5321-18321 5/03/2022 Sat 18/03/2022 Fri 28/03/2022
20 CP 19321-1421 19/03/2022 Sat 1/04/2022 Fri 11/04/2022
21 CP 2421-15421 2/04/2022 Sat 15/04/2022 Fri 25/04/2022
22 CP 16421-29421 16/04/2022 Sat 29/04/2022 Fri 9/05/2022
23 CP 30421-13521 30/04/2022 Sat 13/05/2022 Fri 23/05/2022
24 CP 14521-27521 14/05/2022 Sat 27/05/2022 Fri 6/06/2022
25 CP 28521-10621 28/05/2022 Sat 10/06/2022 Fri 20/06/2022
           
*CP is normally paid out 10 days on the Monday after FN CP period ends

 

Financial Records for each Payout

Documentation related to each CP payout are uploaded to the Invoices and Payments admin area within 2-5 business days from the date of deposit. For each CP, there are three types of files that relate to the amount remitted into the charity's nominated bank account for that fortnight. These are:

To access the files related to a Charity Payment, click here to see how.

To change the nominated bank account for your charity, click here.

See related downloads section for example files.

 

What do each of these files mean?

Remittance Advice

Outlines the Gross Total, Merchant Fees and Merchant Transaction Fees and any amounts "Withheld" such as where there is a rebate etc. Generally most of this will be remitted back to you once reconciled (download example).

NOTE ABOUT GST

For Australian Charities - if you are registered for GST you can claim back the GST included in the Processing Fee, Merchant Fee and GoFundraise Service Fee (all amounts displayed on the remittance are GST inclusive where applicable).

For New Zealand Charities - if you are registered for NZ GST you can claim back the GST included in the GoFundraise Service Fee.  The service fee amount displayed on the remittance is GST inclusive. The processing fee and merchant fee charged by various credit card providers and payment gateways are NZ GST exempt. 

Payout Summary

Itemised breakdown of transactions paid out to the beneficiary for that fortnight (download example).

Invoice

Breaks down the GoFundraise Service Fee including GST, general donation Invoices have already been paid from funds collected, however Event Creator and Annual Hosting fee invoices will be sent to you separately and require payment (download example).

 

RELATED DOWNLOADS

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