Manage Your Pledge Payments -- the Right Way
Pledges are both a financial and personal commitment from a donor to your organization. But their commitment isn't complete until payment is received. As you receive payments for the pledges donors made in the fall and before calendar year end, pay careful attention to how you enter these payments. This is especially important when the donor has more than one open pledge or the payment comes from a different payor, such as a family foundation. These tips will help you manage your pledge payments.
Pledge Payment Pecking Order
When you enter a pledge payment transaction in Gift Entry and the donor has more than one open pledge, ENTERPRISE will default the pledge it thinks you are paying off - the oldest or newest. This is a code table setting in the ENTERPRISE Codes Table called Pledge Payment Pecking Order (PLGASC). In this table, enter a value of 1 to pay off the oldest pledge first and 0 to pay off the newest first. Note that you can pay off a different pledge in Transaction Entry if the default of oldest or newest is not the one the donor is paying.
Paying off a Different Pledge
What if a donor has multiple open pledges and you want to pay off a different pledge? Or pay off a pledge on a different account?
Let's say the payment came from a family foundation and you need to pay off the pledge on that family member's account. In Transaction Entry, enter the family foundation as the payor and the pledge payment transaction type. Then click the ellipsis on the Pledge line.
This will open the Unfulfilled Pledge Inquiry window. Here you can choose a different pledge from the same donor to pay. Or, in this example, remove the Account ID from the search criteria at the bottom of the window and search for a different donor. Click on the donor's name in the Pledge List and you'll be brought back to the Transaction Entry window. Now the correct pledge information will be populated and you can continue entering the payment details.
Note that if you have the Auto-Fill Account ID Entry functionality turned on, you can type the name of the pledge donor in the Pledge Account ID field in Transaction Entry rather than using the ellipsis to search for the pledge account. If the donor has multiple open pledges, it will default the pledge to pay off according to the Pledge Payment Pecking Order. Use the ellipsis to search via the Unfulfilled Pledge Inquiry if you need to pay off a different pledge.