How best to record pledge fund changes across fiscal years..

Melissa Worthington

Good morning,

Last December, a donor made a pledge for this calendar year that is paid down throughout the year via payroll deduction.  Our fiscal year ended 6/30/15 and now the donor has asked that all payroll deduction donations from August to December be put in a different fund.  Since the total contribution was recognized in the old fiscal year when the pledge was booked, how and when should we make the adjustment for the fund change?  FYI...the old fiscal year ended 6/30/15 is still open for entries. 



Any advice would be much appreciated on how best to handle!

Thanks much,

Melissa





 

JoAnn Strommen

Answer partially depends on how you handle accounting - are you integrated with RE or some other? 



What we would do is an adjustment on the pledge changing the fund and marking the adjustment to post to the GL so accounting records get changed.  Essentially, it will just change the account receivable in accounting to new fund and your pledge in RE.



If you're not integrated, talk to finance & HR office as they will have to make manual changes needed on their end.

Melissa Worthington

Hi JoAnn,



We are integrated with RE. Thanks so much for your help!



Best,

Melissa