Can I update FMV after payments are processed?

• The Fair Market Value (FMV) of a ticket or item can be updated after payments have been processed, but please note the following:
• Changing the FMV after a transaction has occurred will not retroactively update the tax-deductible amount on existing receipts. Receipts that have already been issued will still reflect the FMV that was in place at the time of purchase.
• If you update the FMV and need corrected receipts to go out, you’ll need to manually reissue updated receipts to affected donors or purchasers. Learn how to Re-send Receipts. 

• To correct receipts that have already been issued, click on the dollar amount of the specific transaction record.

• Calculate and Update the Tax deductible amount according to your new FMV values.

• Once you've updated the tax-deductible amount, click on Receipt > Resend Receipt Email to send the contact an updated receipt reflecting the corrected amount.

How to Update the FMV for future transactions or before you begin selling:

• Navigate to the Tickets, Sponsorships, or Auction Items section (where the FMV was originally set).

• Click the Edit icon next to the specific item.

• Update the Fair Market Value field.

• Click Save to confirm your changes

Need Additional Help?

We're here to assist you in any way we can. Don't hesitate to reach out to support@betterunite.com

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