Per the Knowledgebase, Blackbaud's suggested solution to apply soft credits to pledge payments is as follows (https://kb.blackbaud.com/articles/Article/61979):

1. Enter the gift on the Community Foundation account and soft credit that gift to the donor "John Smith" that has the pledge.
    
2. Navigate to John Smith's account and enter a payment for the same amount as the foundation gift. 
    
3. In that donor's account (John Smith), also enter a disbursement for the same amount as the payment you just entered. 

However, this then skews some query and report results.

For example, if I wanted to see all gifts received in FY17, Blackbaud recommends using this query criteria (https://kb.blackbaud.com/articles/Article/61952)

Journal Entry Date = 7/1/16 to 6/30/17

AND Individual Transaction Received > 0.01

The problem is that this query (and many others) only includes the Journal Entries captured in #1 and #2 above.  It does NOT include the disbursement entry (#3 above) to properly net against #2.  Thus, the query or report results are overstated by the amount of the soft credit pledge payment(s).

Since we REALLY don't want to have to rewrite many of our queries or have to remember to net out all the soft credit pledge payments, it would be great if Blackbaud could create a better solution for handling these types of transactions.