[GNC] Club membership fees and charitable contributions - Business Features or Assets?

[Tom Reynolds]

Perhaps you could look at this
https://www.accountingtools.com/articles/accounting-for-pledges.html
regards
DrTom

On 8/2/2019 12:21 PM, Adrien Monteleone wrote:
> Yes, I understand they are different. The Business Features *could* still be used, just not considered in a formal way.
>
> But certainly, manual entries are possible.
>
> The tough part of pledges is they really don’t go anywhere in the account tree that I can see.
>
> They are not assets, not AR from a legal standpoint, not liabilities, not income, and since none of those, not equity either. Perhaps they should be tracked separately since trying to do so in GnuCash requires shoehorning something of the app to fit. But if one likes using shoehorns...
>
> Regards,
> Adrien
>
>> On Aug 2, 2019, at 7:09 AM, Mike or Penny Novack <stepbystepfarm at comcast.net> wrote:
>>
>> On 8/2/2019 3:34 AM, Adrien Monteleone wrote:
>>> I’m not sure about keeping track of member donations in an Asset account.
>>>
>> There are difficult issues doing financials for non-profits which can require some fiddling using gnucash (or any alternative).
>>
>> For example -- the members  may want to receive "statements" (invoices) and want these to reflect a unified statement (membership as well as pledges) BUT membership dues are NOT a receivable for such organizations <<which may be keeping books on a cash basis, but more important, a member can withdraw at any time, does not OWE the billed dues. They DO owe pledges, but only according to the terms of the pledge* >>
>>
>> ONE solution is to bite the bullet and keep multiple books for different purposes. Main books on a cash basis NOT tracking members but just the source of the income (dues, donations, pledges, etc.) and the other used just to be able to invoice and track which members have paid, etc. In the example situation above where members may contribute (get credited for contributions actually made by others) that is another level of complexity.
>>
>> Michal D Novack
>>
>> * Thus if a pledge is $5000 in the form of $1000 a year for five years they do not owe $5000 immediately
>
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