Sometimes pledges will be created in batch according to a given schedule, but not all donors will want to follow the same payment schedule. This situation can arise if you create pledges in batch to be paid in only 1 installment, but one or more donors would like to pay in monthly installments; or if a donor requests an extended period of time to pay off the balance due on a pledge as a result of financial hardship. Use the following method to modify the entire or remaining pledge payment schedule of any pledge:
- Access the back office.
- Click the Finances menu.
- Click Pledges, then Find Pledges.
- Enter the name of the contact for whom you would like to change a pledge payment schedule (or other criteria that will allow you to retrieve the pledge you want to change in the search results).
- Select the pledge (or pledges if the same change can be applied to more than 1 pledge).
- In the Actions drop down menu, select Modify Pledge Payment Schedule.
- Click Go.
- Depending on the changes you would like to make to the schedule, enter the following information:
- Pledge Payment Start Date
Entering a date in this field will change the date of the first or next expected installment on the pledge to match. If you do not want to change the date, leave the field blank.
Ex.: To correct a pledge was mistakenly created with a start date of June 1 instead of July 1, you would enter July 1.
- Pledge to be Paid In...Installments
Enter the number of installments that the pledge is to be paid in (e.g. 1, 4, 12, etc.). If you do not want to change the number of installments, leave the field blank.
Ex.: A pledge was created to be paid in 1 installment, but the donor requests to switch it to a quarterly schedule, you would enter the number 4.
- Pledge to be Paid In...Installments... Every
Enter the frequency in which payments will be made (e.g. every 1 month, every 3 months (quarterly), every 1 year (annually), etc.). If you do not want to change the frequency of installments, leave the field blank.
Ex.: A pledge was created to be paid in 1 installment, but the donor requests to switch it to a quarterly schedule, you would every "3" and select "month(s)".
- Pledge Payment Start Date
- Click the Modify Schedules Now button. A confirmation message that pledge schedules have been changed will appear.
- Access the contact record's pledge tab to verify that changes have been made as desired.
Note: It might take a little trial and error if a pledge is in progress and you are altering the schedule for the remaining balance or if this is the first time you are performing this action. There is no limit to the number of times this process can be used to change the payment schedule for a given pledge.