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Tracking Partial Payments on an Opportunity

Sherry Aldrich

I'm wondering how others track partial payments on an opportunity.

For example, if we ask someone for 15K (asked amount) and they agree (expected amount) but they pay 10K and will pay the remaining 5k at a later date, how do you track that? How do you report out accurately?

One option is to to close the opportunity with 10K and open a 2nd for 5k, however that doesn't really reflect the situation. It was one ask just paid in 2 payments.

another option is to apply the one payment, but then the expected amount of 15 is now inaccuate because 10K is already in the door.

Thanks for any ideas on how you manage this.

Sherry

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John Damer

Perhaps you thought of this already...Can you enter a pledge for $15K, then link the opportunity to the pledge?

Sherry Aldrich

@ John Damer @ We only put something in as a pledge when we have a signed pledge form. We use opportunities to track where people are in the moves management process, how much we asked, how much they committed to and how much is funded etc.

Sometimes they make a partial payment and send the remainder in later. Right now i close the one opportunity and create a 2nd for the remainder, but when I pull reports / information, the information isn't accurate. We didn't ask twice, it all stemmed from the single ask.

Thanks

Sherry

Daniel Bayer

If someone has made a payment and indicated they will be paying more later, we updated the "Amount Funded" on the Proposal to indicate how much they've paid and the date on which they paid (and also link the gift to the Proposal), and update the "Status" field to indicate "Payment Plan". Once it's paid in full, we update the Status to be "Paid In Full".

Sherry Aldrich

Daniel Bayer‍ That's a great solution, not sure why we didn't think of that!

Thank you so much.

Sherry