If you have a pledge transaction for $100 and you get a check for $120, the system will create a $100 pledge payment fulfilling the $100 pledge transaction. It will also create a new $20 pledge transaction and a pledge payment of $20 to fulfill it.
When you receive a payment gift from a donor who has made a pledge, you are notified that they have an open pledge. This is clear on the Advanced Gift Entry Options window. Click the Open Pledge Exists button to open the Select Pledge to Pay window. Displayed is a list of the pledge payments that are expected.
Select one or more of the pledge transaction(s) that the donor's gift will fulfill. The amount of the pledge transaction will be entered automatically for you in the Gift Data Entry window if you did not enter it initially.
Remember that expected pledges are in the database as pledge transactions (Gift Class of PT) and that pledge transactions are fulfilled when a pledge payment is received. Pledge payments are stored in the Gift Transactions table with a Gift Class of PP.
Pledge payments are treated like cash gifts, and soft credit can be applied. Soft credit will automatically be applied to the donor's spouse if the system is configured for that. You may also enter soft credit manually for other related entities.
If the amount of the donor's gift exceeds a pledge transaction amount, the system will create two pledge payments.
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If you have a pledge transaction for $100 and you get a check for $120, the system will create a $100 pledge payment fulfilling the $100 pledge transaction. It will also create a new $20 pledge transaction and a pledge payment of $20 to fulfill it. |
Also, you can specify that a donor's gift is a payment for another donor's pledge.