Setting up Pledges for new year & Prepaid Pledges

[trinityfinance]

This is my first year of entering pledges for a new year. We will be receiving pre-paid pledges as well. I would like a step-by-step for the process. I did not find a video on the website or on You Tube. I want to be sure I understand this because for the current year there are some prepaid pledges from 2016 that aren't showing on donor's 2017 contribution statements. I can't figure out how to fix those. Maybe that is where we should start. Your help would be appreciated.

Patty

[NeilZ]

This is my first year of entering pledges for a new year. We will be receiving pre-paid pledges as well. I would like a step-by-step for the process. I did not find a video on the website or on You Tube. I want to be sure I understand this because for the current year there are some prepaid pledges from 2016 that aren't showing on donor's 2017 contribution statements. I can't figure out how to fix those. Maybe that is where we should start. Your help would be appreciated.

Patty

First off .. if the pledge was 'prepaid' in 2016, the amount will not show up on the 2017 statements because it was paid in 2016. They should have shown up on the 2016 statement as contributions for 2016. You cannot claim donations made in a prior year, in the current year, per IRS rules.

As far as a 'step-by-step' process, get out the Powerchurch User Manual and turn to page 153, Understanding Pledges. This gives you a great overview of the process, along with step-by-step directions on adding new pledges.

As far as prepaid pledges, this is covered on page 158 of the manual under, Prepaid Pledges.

If you can't find the printed manual, Powerchurch includes a PDF copy of the manual under the \Powerchurch\PCPLUS115 directory, the name of the file is pcplus115.pdf.


Does this help?

[trinityfinance]

This information is great, thanks.
I understand what you are saying for tax purposes on prepaid pledges.
We have a donor who made a pledge for 2017 during our stewardship drive in 2016. Then she paid towards that pledge in December 2016.
- Nov 2016 - made pledge for 2017
- Pledge was entered
- She made a payment towards the 2017 pledge
- When I print out her contribution statement for 2017, it does not show the donation, thus leaving her a balance of the pledge that she actually paid towards.
- We have more than one person like this. The balance due under pledge payments is incorrect.

How can I resolve this? Plus I don't want to make the same mistake this year.

Thanks

[NeilZ]

This information is great, thanks.
I understand what you are saying for tax purposes on prepaid pledges.
We have a donor who made a pledge for 2017 during our stewardship drive in 2016. Then she paid towards that pledge in December 2016.
- Nov 2016 - made pledge for 2017
- Pledge was entered
- She made a payment towards the 2017 pledge
- When I print out her contribution statement for 2017, it does not show the donation, thus leaving her a balance of the pledge that she actually paid towards.
- We have more than one person like this. The balance due under pledge payments is incorrect.

How can I resolve this? Plus I don't want to make the same mistake this year.

Thanks

You will have to manually update the pledge to reflect that prior year payment. Again, this is covered on page 158 of the manual. When you print out the 2017 statement that 2016 payment to the pledge you made according to the instructions in the manual will show that there is no pledge balance because the new year (2017) started off with the pledge reflecting the contribution made last year.