Future Receivable GL

Mainly they aren’t linked because they are not same thing.   Future receivable just means that it is expected to be received in more than 12 month from the time of the pledge.   If you want to have an accurate payment schedule – linking the two would also not be a good thing since you could have a pledge that is not going to be unrestricted for 3-4 years but payment will happen before that.  

Likewise you could have   pledge that is for the current year that will be paid over 3-4 years and never be temp restricted.

One thing you might want to set out (depending upon the GLs you have set up for the funds)   is use the feature that allows you to edit whether the scheduled payment is Current or Future.   So that you could put June 1, 2017 as scheduled payment date – which will show Current BUT there is an option to change it to Future – here this change moves the receivable to the Future/TR receivable GL.

From: Tessitura Finance Forum [mailto:forums-finance@tessituranetwork.com] On Behalf Of Mark Frey
Sent: Monday, May 08, 2017 1:42 PM
To: McKinley, Leslie <LMcKinley@nycitycenter.org>
Subject: [Tessitura Finance Forum] Future Receivable GL

Hi, I've always assumed that the Future Receivable GL was tied to the Restricted Income GL. So that when a contribution is time restricted, the Restricted GL and the Future Receivable GL would be the GLs used for the posting. This does not seem to be the case though, right? Why wouldn't they be linked and more importantly, is there a way to link them? For us, neither the Default (after 12 months) nor the Fixed Date method will work 100% of the time and we need something to always be accurate. Thanks, Mark

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Mainly they aren’t linked because they are not same thing.   Future receivable just means that it is expected to be received in more than 12 month from the time of the pledge.   If you want to have an accurate payment schedule – linking the two would also not be a good thing since you could have a pledge that is not going to be unrestricted for 3-4 years but payment will happen before that.  

Likewise you could have   pledge that is for the current year that will be paid over 3-4 years and never be temp restricted.

One thing you might want to set out (depending upon the GLs you have set up for the funds)   is use the feature that allows you to edit whether the scheduled payment is Current or Future.   So that you could put June 1, 2017 as scheduled payment date – which will show Current BUT there is an option to change it to Future – here this change moves the receivable to the Future/TR receivable GL.

From: Tessitura Finance Forum [mailto:forums-finance@tessituranetwork.com] On Behalf Of Mark Frey
Sent: Monday, May 08, 2017 1:42 PM
To: McKinley, Leslie <LMcKinley@nycitycenter.org>
Subject: [Tessitura Finance Forum] Future Receivable GL

Hi, I've always assumed that the Future Receivable GL was tied to the Restricted Income GL. So that when a contribution is time restricted, the Restricted GL and the Future Receivable GL would be the GLs used for the posting. This does not seem to be the case though, right? Why wouldn't they be linked and more importantly, is there a way to link them? For us, neither the Default (after 12 months) nor the Fixed Date method will work 100% of the time and we need something to always be accurate. Thanks, Mark

This message was sent automatically to you by www.tessituranetwork.com because you subscribed to the Tessitura Finance Forum. You may reply to this message to post to the Finance 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!