how do you handle pre-paid pledges?
by Connie N
(Fort Worth TX)
Each spring we have a pledge drive, asking members to commit to a specific amount they plan to give in the next fiscal year (July - June). Some like to pay part or all of this amount before the beginning of the fiscal year. How do we record this so the payment does not count as income when it is paid, but is set aside to count as income later, when the new fiscal year begins?