We set up a pledge with an incorrect fund, and the first of 10 installments was also recorded to the incorrect fund. I've searched the help tools, documentation and the forums and do not see the steps needed to adjust a pledge that has existing payments. The pledge payment was a credit card transaction.
What step is first? Adjust the pledge, or adjust the pledge payment (on account)?
Thank you in advance for your help. Still a relative newbie to Tessitura's methodology for gift adjustments.
Hello Norma,
Ah yes; this is always fun!
Our first step for our methodology is to take the pledge payment(s) off of the line item (either by refunding and recharging, putting the amount On Account, or putting the amount to an Adjustment payment method) and then to remove the pledge entirely.
I don't believe it is possible to go in the opposite order (adjusting the pledge first) because the actual receivable needs to be removed first.
Thank you,
Brian
All in the way you want to see things and if you have crossed a fiscal year. If this has crossed a fiscal year you may need to consider the way receivables are tracked and recorded. You may need to back date the pledge when you reenter.
Assuming it was all in this fiscal year. You can adjust the entire pledge and the payments in the same Adjust transaction and then repost to the correct fund number. As you reenter you may want to just enter the 10 payments as a single payment and delete the receipt/ack (these can still be printed from the old transactions). Putting the money On-Account would the correct way to handle the payment. You can set up the remaining credit card payments as if it were a new pledge.
Recommend putting good notes in both the new and old pledge explaining what was done.
If this is your first time doing this sort of thing – I also recommend doing it in TEST first so you can see how things appear and will post in the GL.
From: Norma Burandt [mailto:bounce-normaburandt9480@tessituranetwork.com] Sent: Wednesday, December 14, 2016 2:25 PM To: McKinley, Leslie <LMcKinley@nycitycenter.org> Subject: [Tessitura Development Forum] fund adjustment of a pledge and its existing payments
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