Delving into the intricacies of Ribbon's functionalities, this article provides clarity on how wire donations are monitored and managed within the platform.
Wire Donation Monitoring with Ribbon:
Automatic Tracking: Ribbon ensures effortless monitoring of wire donations entering the program's bank account. This applies specifically to donations initiated through the Stripe invoices associated with either the sponsor's "Add Funds" feature or the program's "New Donation" feature.
Streamlined Fund Capture: Funds received via credit card, ACH, or wire are automatically captured by Ribbon when utilizing the designated features. These funds are promptly directed into the sponsor operating account designated for the specified program.
Ensuring Proper Tracking:
Usage of Stripe Invoices: To leverage Ribbon's automatic monitoring, it is essential to use Stripe invoices associated with the "Add Funds" feature or the program's "New Donation" feature.
Wire Transfers to Non-Ribbon Accounts: In cases where funds are wired to an account not associated with Ribbon, manual tracking becomes necessary. Utilize the "Add Funds" feature to transfer these external funds into the program's Ribbon account for proper monitoring.