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Level 1

How to book a multi-year pledge in Quickbooks, with a Pledge Discount (Desktop Version)

Hello there-

 

I work for a NFP, and we recently received a 5 year pledge commitment from a donor. I have computed the associated pledge discount, but how do I go about;

 

1) Making that entry in QB (desktop  version) for year 0,

2) The subsequent years when the discount is being amortized?

3) When the cash comes in, do I just apply that receipt directly against the pledge?

 

Thank  you for your help!

4 Comments
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Level 15

Re: How to book a multi-year pledge in Quickbooks, with a Pledge Discount (Desktop Version)

It depends on the type of pledge and the conditions attached as to whether or not it is a binding contract.  On this one you need the help of a non profit tax cpa

 

 

Level 1

Re: How to book a multi-year pledge in Quickbooks, with a Pledge Discount (Desktop Version)

Hello Rustler- it is an Unconditional Promise to Give. I have all the details sorted out, but not sure how to make the actual entry in QB desktop version, since I'm sort of not very familiar with QB.

 

Thanks,

Sheilla

Level 1

Re: How to book a multi-year pledge in Quickbooks, with a Pledge Discount (Desktop Version)

The pledge is an Unconditional Promise to Give, and I have all the details sorted out. I just need to make the actual JE in QB desktop version, and help help going about that.

 

Thanks

QuickBooks Team

Re: How to book a multi-year pledge in Quickbooks, with a Pledge Discount (Desktop Version)

Hey there, @215WIL.

 

Great job on getting the details on Entering Pledges! I can offer some help with entering the Journal Entry.

 

Here's how:

 

  1. Go to the Company menu and select Make General Journal Entries.
  2. Fill out the fields to create your journal entry. Make sure your debits equal your credits when you’re done.
  3. Select Save & Close.

 

Although we do offer general information on how to enter a Journal Entry, it's always best to consult with your accountant for further help to be sure it's recorded the best way possible for your business.

 

Let me know if you have any additional questions, I'm here to help.

 

 

 

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