Pledges are promises to pay a certain amount over a defined period of time. For example, a donor might pledge $4800 to be paid over four years, by installments of $100 per month. Pledges can be “conditional”, meaning payment comes due only when a condition is met or “unconditional” where there are no strings attached. Pledges need further details like the total amount of the pledge, the payment frequency, the number of installments to be paid, and whether it will be paid by credit card or not. Follow the steps below to add a pledge:
- Start a new donation.
- Select the payment type of Pledge, and press the Tab key. Once you select the Pledge payment type, the donation amount cannot be edited.
- Select the Details button. The Pledge Details screen opens.
- The Total Pledge Amount is automatically populated for you if it was filled in on the previous page. Otherwise fill in the total pledge amount and press the Tab key.
- Select the Frequency of the installments, and press Tab.
- Type the Starting date or select the Calendar button, select the date, select OK.
- Select the # of Installments manually type the expected number of installments or select the up arrow button to increase the number of installments. The Ending Date field will adjust according to the number of installments you enter. Choosing the Ending Date instead of the number of installments automatically determines the number of installments.
- Choose the Distribute Unpaid Salsa CRM will calculate equal payments based on the frequency selected and the total pledge amount entered.
- Select a Reminder either 1-20 days in advance of the installment due date, on the day the installment is due or choose not to be reminded.
Note: Pledge reminders are only created for 'unpaid' installments. Reminders are not set for installments which have been written off.
- Select either Determine payment when installment arrives or Use this card to assign a credit card to the pledge.
- Click the OK button. The Pledge Detail screen will close, returning you to the new donation screen.