• Record a Pledge Gift
• Create Initial Pledge Gift Payments
• Send to Accounting
• Generate a Payment Schedule

 Record a Pledge Gift

The pledge Gift record forms the basis for all future pledge related payments and adjustments.

1. Locate or create the donor in akoyaGO CRM.
2. Create a new Gift record:
   1. Set the Gift Type to 'Pledge'.
   2. Enter the Total Commitment (pledged amount).
   3. Select the fund(s) to receive the pledge. If more than one fund is selected, specify the Amount each fund should receive in total.
      

 

3. Optionally, enter pledge schedule fields to auto create scheduled payments
   1. Pledge Payment Schedule Start Date – The date of the first anticipated payment
   2. Pledge Payment Frequency – Choose from Weekly, Monthly, Quarterly or Annually
   3. Pledge Payment Schedule Type – Choose from Amount of Payments or Number of Payments
   4. Amount of Pledge Payments/No of Pledge Payments – Specify either amount or quantity of payment installments
      
      

 

 Creating the Initial Gift Payment(s) for the Pledge

Once the pledge Gift is saved, the system creates a single Gift Payment with type 'Pledge' for the total committed value per selected fund. This Gift Payment represents the pledged amount that will be distributed over time via the anticipated payment schedule.
Key points:

1. The Payment Type is 'Pledge' and the Amount is the total pledged amount for that fund.
2. This payment may be sent to accounting as part of the pledge accrual process.
3. It serves as the parent amount from which anticipated installments are derived.

 

 

Sending the Pledge Accrual to Accounting

This step ensures that pledged revenue is recognized according to your revenue recognition policies.

1. From the pledge Gift Payment (payment type 'Pledge'), initiate the process to send it to accounting.
2. When processed as a Pledge Accrual, the accounting impact is:
   1. Payment Status = Posted
   2. Credit revenue
   3. Debit customer (a receivable or equivalent customer balance)

 

Generating the Anticipated Payment Schedule

Using the pledge schedule data you entered on the pledge Gift, the system can generate an anticipated schedule of individual pledge payments based on:

1. Total Commitment.
2. Number of installments or installment amount.
3. Frequency of payments.

The system creates anticipated pledge Gift Payments with payment type 'Pledge Payment'.
Each item in the anticipated schedule:

1. Represents one expected payment on the pledge.
2. Is associated with the pledge Gift record.
3. Serves as the placeholder to which actual incoming payments will be applied.