Hi all- we have a new Dir of Finance here at Roundabout and he wishes a Fund, created in 2012, to be given a new GL Account number. I am concerned as we have MANY pledges and gifts to this Board Capital Campaign Fund, and am not clear on the ramifications of doing this for him.
Does anyone have any ideas on the long term ramifications (or short term) of a change like this?
Would appreciate any feedback.
Thanks,
Lise
Definitely tricky. If memory serves, changing GLs on an existing fund does not affect any previously entered gifts or posts, only entries going forward. That may mean that pledge payments you take are suddenly affecting a different set of GLs than the pledge receivables were booked to. I would get into Test and do some experiments--change the GL, pay off some pledges, examine the posting reports, etc. But yes, be concerned. :)