How the Past Due Report is used and how it calculates
This report includes:
- All families who have a pledge with a start date on or before today's date and a balance greater than $0.00 for the selected funds.
- They must also have a shortfall amount greater than $0.00, which is calculated by the following:
- (Total Expected Payments X Payment Amount) - Total Paid
- If this amount is greater than the balance, then the balance is used instead.
Total Expected Payments is calculated by projecting out the pledge payment schedule via a function (which will provide a "simulated" payment schedule from the pledge start date to the date in which the balance will become $0.00) and counts the number of payments which "should" have taken place before today's date.
Payment Amount is calculated by the following: (Adjusted Total Pledged - Down Payment) / Total Payments.
- Adjusted Total Pledged is just the total pledge amount
- The adjustment amount and Total Payments are calculated by the following:
- if payments per year are 1 and months amortized is less than or equal to 12, then it's 1
- if gift type is "one time" or "one time gift", then it's 1; otherwise, it's (months amortized / 12) X payments per year.
Total Paid is just the total paid to date.