Pledges are one of the many convenient ways for donors to show their commitment to your organization. However, what happens if you need to write off the balance of an incomplete, or unfulfilled pledge?
Follow the steps outlined below so that these pledges do not negatively impact your financial reports and ensure the information you may need to reference in the future is retained.
Step 1: Navigate to 'Pledges'
From your 'Donor Management' Dashboard, select the 'Giving' tab on the left navigation panel. Then, select 'Pledges' from the newly expanded drop-down list.
Step 2: Click to edit the pledge
Next, click the 'Actions' button next to the pledge you want to adjust and select 'Edit' from the drop-down list.
Step 3: Edit the 'Pledge Details'
In the 'Pledge Details' section, update the 'Total Pledge Amount' to reflect how much of the original pledged amount has been paid.
For example, if the donor originally pledged $500 and has paid $350 towards the balance, you would update the amount to $350.
Step 4: Make a note for your records
Under the 'Notes' section, add a note that includes the original intended amount of the pledge, how much of the initial pledge will be written off, and the date on which the write-off was approved.
Step 5: Save your updates
When you are finished, click the 'Update and Save' button. This should update the outstanding amount of the pledge to $0 but still retain the original details for future reference.
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