Question About Entering Pledges

Question

I am excited to enter gifts/pledges via NXT. Two questions:

* Our organizations doesn't use the split pledge feature for tracking multi-year pledges. We allocate the pledges to the Fund and Fiscal Year we expect payment. Is this something that we can now do in NXT?
* What is the recommended way to learn how to do this? I imagine the learning curve and the mistakes that might be made along the way. Is it now possible to delete a mistaken gift entry?

Thanks so much, Valerie

Alex Wong · Answer

Split pledge (in RE NXT split specifically means splitting between different Campaign/Fund/Appeal/Package) is not advised in my opinion, as it is terribly difficult to report and manage.

Pledge and Pledge Payment are different gift records, linked together in a way that's not easily reportable without data warehousing and SQL. That said, the issue:

Pledge $100K (split with Fund 2025 $50K and Fund 2026 $50K), when a payment is made, say for $30K, and the pledge payment fund is Fund 2025, there is no easy report to tell you the pledge of $100K is missing $20K in Fund 2025 and $50K in Fund 2026.

If you accounting practice requires the use of fund that's "year" specific, I would do multiple pledges one for each fund.

JoAnn Strommen · Answer

@Valerie Van Selous  When you say "allocate the pledges to the Fund and Fiscal Year we expect payment" do you mean you set up a payment schedule with payments due on a date in future FY?

This is an example of a multi-year pledge I entered. Yes, this can be done in NXT.

As to learning how to do, there may be a training out there specifically on entering pledge installments. IDK. Just try it. Not too complicated. If you've done it in db view, it's just a bit different.

As to deleting - you should be able to edit and or delete. In batch you can delete a line before approving the batch. Most recent questions about deleting seem to have more to do with credit card payments and the backend details attached.