Penny accounting?

Roger Stafford on

Hi Laurie,

I work with a high school club that has about 40 members, and about 10 cash out every June and we take in about 10 every September. We currently handle the deposits by having the treasurer (an adult) enter the amounts by hand. We used to use a separate bank account, but we now send all checks directly to TDA.

To simplify further, would penny accounting work for such a large group? As the years go by we would need to eventually reassign the number to a new student. Do you foresee any problems?

Roger.Stafford@fuse.net

Laurie Frederiksen on

Hi Roger,

As long as you don't have two people in the club at the same time with the same number of cents assigned to them, you should not have a problem.

When you reassign a cents amount, you'll have to manually identify who it belongs to on the Multiple payments entry form the first time the person has a payment to record. After that, bivio will have "re-learned" whose it is.

Laurie Frederiksen
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On Mon, Jun 22, 2015 at 7:14 PM, Roger Stafford <roger.stafford@fuse.net> wrote:

Hi Laurie,

I work with a high school club that has about 40 members, and about 10 cash out every June and we take in about 10 every September. We currently handle the deposits by having the treasurer (an adult) enter the amounts by hand. We used to use a separate bank account, but we now send all checks directly to TDA.

To simplify further, would penny accounting work for such a large group? As the years go by we would need to eventually reassign the number to a new student. Do you foresee any problems?

Roger.Stafford@fuse.net

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