On 8/2/2019 1:21 PM, Adrien Monteleone wrote:
Yes, I understand they are different. The Business Features *could* still be
used, just not considered in a formal way.
But certainly, manual entries are possible.
The tough part of pledges is they really don’t go anywhere in the account tree
that I can see.
They are not assets, not AR from a legal standpoint, not liabilities, not
income, and since none of those, not equity either. Perhaps they should be
tracked separately since trying to do so in GnuCash requires shoehorning
something of the app to fit. But if one likes using shoehorns...
Regards,
Adrien
Sorry, but PLEDGES (unlike membership dues, etc.) are receivables. But
only according to the terms of the pledge. If you pledge $X
(unconditionally) that is a current receivable of $X. If you pledge $X
in each of the years 2019, 2020, and 2021 then only $X is receivable
now, $X more becomes receivable after Jan 1, 2020, etc.
Membership dues are not receivable when billed because legally a member
can quit at any time. Rules of the organization may require notice,
permission to demit, etc. but are not enforceable unless the member
later seeks to rejoin.
HOWEVER --- charities and other non-profits rarely seek to enforce
pledges because except in the circumstances where would not cause bad
publicity. Thus if somebody (who clearly had the money) pledged 10
million to their college endowment fund but dropped dead of a heart
attack before sending it they probably WOULD approach the executor of
the estate asking for it. But might not go to court if turned down.
Michael D Novack
PS: This is the reason why charities, etc. like to have you make a
pledge (and set up automatic payment) of $Y/month. Because it IS then a
receivable for them.
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