Sponsorship Finances

Managing sponsorship finances can be a little tricky. You can have various people paying for a single sponsorship, or you can have an organization paying for an employee's sponsorship. Or you can have sponsorship payments in a different currency than expected. There's also the problem of determining which sponsors are behind in their payments, and how far behind are they? You may also have sponsors that are unable to make payments for a few months but wish to continue sponsorship, and you need to forgive those unpaid charges.

Delightful Labor can help with all these situations!

When you add a sponsorship, Delightful Labor creates an account for that sponsorship. Think of it like your phone bill. Every month, the phone company applies a charge against your account. When you (or anyone else, for that matter) makes a payment to that account, the phone company recalculates your balance.

Note that if a donor has more than one sponsorship, each sponsorship is treated as a separate account.

In Delightful Labor, you can use a utility that automatically applies charges to each sponsorship once a month. The charge is based on the individual sponsorship commitment and the accounting country associated with the sponsorship. You can also manually add a charge against a sponsorship account, but this would be done only in special circumstances. You can also manually edit individual charge records (for example, if a sponsor needed to skip a month, you could set that month's charge to 0.00).

As sponsorship payments arrive at your office, you can enter the payments into Delightful Labor. The sponsor's account is automatically updated, and you can see their account balance. You can also apply third-party payments to a sponsorship account. For example, a sponsor's business may make a payment to an employee's sponsorship. Delightful Labor keeps track of the various donors and applies the payments to the correct sponsorship.

Delightful Labor also provides a report to help identify sponsors who have fallen behind in their payments. You can learn more about the past-due report here.