Hello,
My organization is making a big push to do multi-year pledges, for example $3000 per year, for 5 years. Our accounting team prefers that these are all entered into the separate campaign years, but does not need the gifts to be otherwise restricted.
The only way I have found to do this is to change the start dates on campaigns and funds so that I can enter a gift in, say the 17-18 Giving Campaign, now. Is there a better way to accomplish this?
Also, if I am entering these pledges into these future campaigns, but not otherwise time restricting them, do I need to do anything to change them from future to current once the time comes?
Thank you,
Karen
Development Associate
Portland Center Stage
Ah ha – but there is a great cash flow report that is a standard report in Tessitura that will tell you exactly when the cash is supposed to come in, based on the schedule you set up when you enter the pledge. It’s the Yearly Cash Planning report in the Finance folder. I use it all the time.
____________________________
Julie P. Hamre
Staff Accountant
Strathmore
5301 Tuckerman Lane
North Bethesda, MD 20852-3385
www.strathmore.org
301-581-5136
jhamre@strathmore.org
In office Monday-Tuesday-Thursday
Support what you love. Strathmore Stars enjoy
10% off Strathmore performance tickets, advance
ticket purchase, discounts in the Shops at
Strathmore and in Tea Room, and access to special events.
From: Tessitura Development Forum [mailto:forums-development@tessituranetwork.com] On Behalf Of Karen Johnson Sent: Monday, November 24, 2014 10:51 PM To: Julie Hamre Subject: RE: [Tessitura Development Forum] Entering Multi-Year Pledges
Hi Julie,
Our Accounting department wanted it this way specifically for cash flow reporting from Tess, but they are not changing any of their procedures for Quickbooks entry. I think in this way, they are remaining GAAP compliant (though this isn't my area of expertise).
Best,
From: Julie Hamre <bounce-juliehamre9206@tessituranetwork.com> Sent: 11/21/2014 6:23:52 AM
I would double check with your accounting folks because what they want isn’t exactly kosher. The full amount of the pledge is supposed to be shown in the year it was made, even though the cash comes in over five years. If you enter it as five separate pledges, that does not comport with GAAP.
(Yes, I think it’s a stupid way to do it but GAAP is GAAP.)
From: Tessitura Development Forum [mailto:forums-development@tessituranetwork.com] On Behalf Of Karen Johnson Sent: Tuesday, November 11, 2014 3:16 PM To: Julie Hamre Subject: [Tessitura Development Forum] Entering Multi-Year Pledges
This message was sent automatically to you by www.tessituranetwork.com because you subscribed to the Tessitura Development Forum. You may reply to this message to post to the Development forum or visit the site to search, read and post to the forums. In the interest of keeping the forum posts from becoming cluttered, we encourage you to delete previous message text from your reply before sending. Thank you!