Pledge to a church -- how to account for it?

Robert Uhl ruhl at 4dv.net
Thu Dec 23 01:25:01 EST 2004


Matej Cepl <cepl at surfbest.net> writes:
> 
> I have an accounting problem. We have pledged a year with my wife to
> pay to the church some fixed amount up front and then monthly $50 for
> building campaign. However, I have not managed to create a way how to
> account for it properly. I have created a special account
> Liabilities/Building Campaign and put there all money we pledged
> (minus the amount we paid immediately).  Then I decreased that amount
> monthly by $50 against the checking account.  The problem is that I do
> not get increased Expense:Charity:Building Campaign account so these
> payments are not reflected in our expenses. I have to probably make
> one more account somewhere, but I have not figured out where and which
> one.

The expense was incurred when you made the pledge and created the
liability: money moved from the $0 balance liability account into your
Expenses:Charity:Building Campaign account.  When you pay off the
liability, money moves from chequing (or whatever) and into the
negative-balance liability account until it is at $0 again, in which
case you have paid off your liability.

-- 
Robert Uhl <http://public.xdi.org/=ruhl>
I don't want to achieve immortality through my work.  I want to achieve
it by not dying.                                          --Woody Allen


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