How to Capturing In-Kind Gifts in Nonprofit Cloud Fundraising

Hi Expert,

We have a requirement to set up the In-Kind Gift process in Salesforce Nonprofit Cloud (NPC). While going through the documentation, I noticed the following steps:

1. First, create a Gift Commitment.
2. Then, create a non-recurring Commitment Schedule under it.
3. Within that schedule, create a Gift Transaction with the status set to Unpaid.
4. Once the gift is received, update the Gift Transaction status to Paid and set the Payment Method as In-Kind.

Could you please confirm if this process is correct for recording In-Kind Gifts in Salesforce NPC?

Also, I have a few questions:

• Is it mandatory to create a Gift Commitment for In-Kind Gifts?
• Can we directly create a Gift Transaction, add custom fields for In-Kind Gift details, set the Payment Method as In-Kind, and mark the status as Paid?
• Is it acceptable to only create a Gift Commitment without a schedule and transaction, just for tracking the In-Kind Gift?

Please help me understand the best practice for capturing In-Kind Gifts in NPC. 

@Nonprofit Hub @Agentforce Nonprofit (Nonprofit Cloud) @Salesforce.org System Administrators