Splitting Transactions Between PACs

Overview:

Some organizations have PACs that need to share or split PAC donations from a donor between two PACs. Quorum PAC Management software has the ability to take receipts (transactions) entered into a “holding PAC” and then split these receipts into two separate PAC transactions based on a percentage split defined in the Quorum system.  Quorum offers three levels of Transactional Splits which include a system-wide split, Organization-level splits and Individual-level splits.

Typically, organizations using Quorum PAC Management software will setup and configure the Split Transactions feature set at the time of implementation of their instance of Quorum PAC Management software.  However, the Split Transaction tools are available for configuration at any time for any client that has the PAC Management software. 

It should be noted, that if you have been using Quorum PAC Management software for some time and then decide to configure the Split Transactions features, there may be special considerations that will require assisted data manipulation based on how your receipt data and donors are already configured in your Quorum system.  In that case, you should discuss your plans and timing of setup of the Split Transactions with your Account Executive and/or Technical Support in advance of setting up these features.

Quorum offers professional service projects for a fee to help clients manipulate data and configure the Split Transactions feature set if assistance is requested or required to successfully implement your Split Transactions.

Metadata: Created November 2024, Product:  PAC Classic

Introduction

Many organizations managing Political Action Committees (PACs) often need to split or share donations from a donor between two PACs. Quorum PAC Management software provides a solution for this by allowing users to split receipts entered into a "holding PAC" into two separate PAC transactions based on predefined percentage splits. This article provides a step-by-step guide on how to set up and utilize the Split Transactions feature in Quorum Pac Classic.

Step-by-Step Guide

1. Define your Holding PAC:
   
   • Create or designate a holding PAC where all receipts will be posted and split into two Child PACs.
     If a holding PAC already exists, define the Child PACs accordingly.
   • Important: Edit administrative profiles to link and manage the newly created PAC.
2. Set up the Splits in the Holding PAC Account:
   
   
   • Navigate to the settings area and change the Split Type to EXTERNAL.
   • Specify the percentage split calculation method.
   • Choose from three Split Type options: System, Organization, or Individuals.
3. Connect a Bank Account to the Holding PAC:
   
   
   • Access the ADMIN area and navigate to the PAC Support Files.
   • Select the bank account associated with the split and ensure consistency across associated CHILD bank accounts.
4. Enter Receipts:
   • Manually enter receipts or import them using the standard process.
   • Conduct a test to ensure successful splits.
5. Run Split Transactions Job:
   • Go to the ADMIN area and access JOBS.
     
     
   • Add a Job to Generate Splits, specifying the date range and naming convention for the split.
     
     
     
     
     
   • Verify job success on the Jobs Screen.

FAQs

Q1. Can I split between more than 2 PACs from a Holding PAC?

A1. No, the Split Transactions feature only allows a split from a holding PAC into 2 separate PACs. For additional splits, custom routines or multiple Holding PACs may be necessary.

Q2. What happens if you add an individual or organization split to a record when the Split Type "system" split is in place?

A2. The Split Type defined in the Holding PAC overrides any additional splits added to individual or organization records.

Troubleshooting

• Issue: Split job failure due to inconsistent ImportID in associated bank accounts.
  • Solution: Ensure consistency in ImportID across all relevant bank accounts to avoid split job failures.