Recording Payments on Imported Pledges
Pledges imported from a legacy CRM/Accounting system do not a have a live link with Business Central and thus cannot be received via the typical Business Process Flow. These gift payments must be manually recorded inside of akoyaGO.
Update the CRM Record
- Locate the gift payment record corresponding for the outstanding pledge. If this is an imported gift payment there should be a value in folio (examples include CRXXXX, CRJAXXX, HISTORY).
- Select the Payment Confirmation Step without using the “Next Stage” button. Update the Folio to “Deposited”, the Deposit Date to actual date the deposit will/did take place, and add the Deposit Account where funds were deposited. Save the gift payment when done.
Record Payment in business Central
- Navigate to Finance>General Journals>Default and write a journal entry to record the receipt of the pledge payment. The Posting Date will be the day you received the payment. Enter the Fund and Department that should be receiving this gift. Enter the donor name in the Description.
a. If the pledge was accrued in your legacy accounting system credit Accounts Receivable for the value of the payment and debit 1999, Undeposited Funds.
b. If the pledge was not accrued in your legacy accounting system credit a revenue account (4XXX) for the value of the payment and debit 1999, Undeposited Funds.
- Additionally, we recommend updating the Payment No., Gift/Request to the appropriate record numbers from CRM (prefix the Payment No. with “GPMT-“). Update the Memo to be the donor name.
- Post when ready by choosing Post/Print>Post.
- This payment is now available to be deposited as part of the normal deposit process and will listed in the Transfer Undeposited Funds window.