Historical Values Overview
GiftWrap allows you to maintain historical values for FASB liabilities, market values, and annuity reserves, in addition to current values. You can store as many historical values for a gift as you wish. The only requirement is that each historical FASB value, each historical market value, and each historical reserve value for a specific gift must have a unique valuation date. A gift's historical values are not overwritten when you update its current values with more current data.
The ability to store historical values makes it easy for you to analyze these values over time, recover past values, and fulfill certain financial reporting requirements.
Populating historical FASB liabilities, market values, and reserve amounts
In order to be able to analyze, recover, or report historical FASB liabilities, market values, or reserve amounts, you must first populate GiftWrap with historical gift values. There are several ways to do this.
Maintaining historical FASB liabilities, market values, and reserve amounts for one gift at a time
You can edit, add, or delete a historical value for a specific gift under Actions > Maintain Historical Gift Values. If you have just a few charitable remainder trusts or lead trusts, for example, adding their historical values one at a time may be the most efficient way to maintain them.
See Entering historical FASB and market values for a group of gifts below for the most efficient approach to entering historical values for gift annuities, pooled income fund gifts, and large groups of charitable trusts.
Maintaining historical FASB liabilities, market values, and reserve amounts for a group of gifts
You can add a copy of your current FASB liability, market value, or reserve amount information for a group of gifts to your set of historical gift value information under Actions > Copy Gift Values to Historical Gift Table. You also can use the FASB Liabilities and Gift Annuity Reserves - State Method functions to save newly computed FASB liabilities and reserve amounts as historical values for their respective gifts.
You can use CashTrac CGA Market Values or Compute PIF Market Values to add newly calculated market values for a group of gift annuities or pooled income fund gifts to your set of historical gift value information.
Correcting current FASB liabilities, market values, and reserve amounts with historical values
You can update the current FASB liability, market value, or reserve amount information stored for a group of gift records with FASB liability, market value, or reserve amount information selected from your historical gift value data by clicking 
under Actions > Maintain Historical Gift Values.
You can use this feature to fix incorrect FASB values, market values, or reserve amounts by recovering correct historical ones. For example, you can use this feature to recover your previous gift annuity market values if you store incorrect new market values by mistake when running CashTrac CGA Market Values. Once you've recovered the historical market values, you can run CashTrac CGA Market Values again to compute the new gift annuity market values correctly.
Reporting historical FASB liabilities, market values, or reserve amounts
You can generate a number of different reports of historical FASB liabilities, market values, and reserve amounts. These reports will help you maintain accurate historical data, review past values, and analyzes changes in values.
Review historical FASB liability, market value, or reserve amount information
The Historical Gift Values maintenance report, available under Actions > Maintain Historical Gift Values, prints all of the historical gift information listed in the Search list of the Maintain Historical Gift Values window. This report gives you an easy means for reviewing a particular set of historical data, such as for a specific gift, a specific valuation date, or a specific gift type.
Report historical FASB liabilities, market values, or reserve amounts
The Historical Gift Values report displays the historical FASB liabilities, market values, or reserve amounts for a specific valuation date and selected group of gifts. It can be sorted as you wish and provides totals as well as detail information. This report is handy for reviewing the FASB liabilities assigned to all of your planned gifts as of a specific past valuation date, for example.
Analyzing the change in FASB or market values between two dates
The Historical FASB/Market Values for Two Dates with Differential report displays the historical FASB liabilities or market values for two specific valuation dates and computes the difference between them for each selected gift. This report is useful for reviewing annual changes in the FASB liabilities assigned to all of your planned gifts, for example. This information must be included in your charity's annual financial statement.
Uploading FASB liabilities and annual changes to your general ledger
You can create a file of FASB liability information that is suitable for uploading to your organization's general ledger software. You may save this file in comma and quotes text format (.csv) or fixed-length text format (.sdf). Depending on your general ledger software, some additional formatting of the file might be required.
This function makes it easy to update your general ledger with last year's FASB liabilities, this year's FASB liabilities, and the difference between them. All of this information is vital when assembling your charity's annual financial statement.