With a donor-advised fund, a donor gives money/assets to create a charitable fund and usually gets an immediate tax deduction. The fund is managed by a third-party, such as a community foundation, a religious foundation, or a financial organization. Common donor-advised funds are Network for Good, Fidelity, and Schwab. The organization holds the money, and the donor gives by directing ("advising") the organization to distribute funds (often called "grants") to specific charities.
When you receive a gift from a donor-advised fund, it's important to review any accompanying information with the payment. Often, the donor has already been receipted by the organization who holds the funds. So any follow-up from your organization should be regarding that the directed funds have been received and not be a "receipt" with tax language since it's usually a "grant" and not an outright gift.
It's also important to review the accompanying information because some employers direct their matching gift programs through donor-advised funds (such as Network for Good). The payment could be the employee's gift and the employer's matching gift, just the employer's matching funds for a gift already made, or just the employee's gift that they made through their employer that did not qualify for a match.
How to enter gifts from donor-advised funds is a procedural question that is best addressed by your organization. Please consult with your financial area, advancement services, and other appropriate resources on how to handle these gifts as there are many legal, financial, stewardship, and other considerations around donor-advised funds that Blackbaud Product Support cannot advise on.
The Raiser's Edge can support multiple ways to enter these gifts, but what is most important is to come up with a documented, consistent means so gift entry is smooth, mail merges run efficiently, and querying/reporting data is meaningful. To find out what other organizations are doing, check out The Raiser's Edge Community to ask fellow users how they enter/manage these gifts. Blackbaud also offers consulting services that can assist your organization in developing these processes.