Dealing with club membership fees

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billrodgers
billrodgers Member Posts: 3 ✭
edited August 2020 in Reckon One
Have just started using Reckon One for accounts for an Incorporated Association (Club). I have Bank Feeds set up.
If we have a deposit of,say,5 new member fees then how can I split that and assign it to each of the Contacts/Members?
Thanks!

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  • Spilly
    Spilly Member Posts: 182 ✭✭
    edited August 2020
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    Use a cash on hand account to enter the individual transactions to, then transfer the total amount as a deposit to your bank account
  • Spilly
    Spilly Member Posts: 182 ✭✭
    edited August 2020
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    All money handled by your club should be run through 'cash on hand' bank account unless directly deposited to your bank account, floats & petty cash should have their own accounts setup.
  • billrodgers
    billrodgers Member Posts: 3 ✭
    edited August 2020
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    Thanks. I was thinking similar just before I read the reply. 
    Cash received needs to be banked ASAP. So,with that I'd use Transfer if the records are in the Cash On Hand Account?
  • Spilly
    Spilly Member Posts: 182 ✭✭
    edited September 2015
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    Yes that's correct, its basically a log on how your handling the money, sometimes you may need larger floats etc, so if you use cash on hand to produce the float you should record so by transfer from 'cash on hand' > 'floats'.

    I'm am also a club treasurer, for the clubs protection and your own you should record all movement of money no matter how small.
  • billrodgers
    billrodgers Member Posts: 3 ✭
    edited September 2015
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    Thanks for that. I know Clubs can be difficult. 

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