Thanks for the clarification and explanation. Posts like this are an excellent example of how useful this list is.
Regards, Adrien > On Aug 2, 2019, at 2:18 PM, Mike or Penny Novack <stepbystepf...@comcast.net> > wrote: > > 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. _______________________________________________ gnucash-user mailing list gnucash-user@gnucash.org To update your subscription preferences or to unsubscribe: https://lists.gnucash.org/mailman/listinfo/gnucash-user If you are using Nabble or Gmane, please see https://wiki.gnucash.org/wiki/Mailing_Lists for more information. ----- Please remember to CC this list on all your replies. You can do this by using Reply-To-List or Reply-All.
