Yes, Lynn. That would be the easiest way to handle it. We don't need to
make this any more complicated then it has to be. You could also simply
credit a liability called "due from partners" and debit it when they pay the
Club back. We carry an account on bivio (it is a negative balance) for just
such a purpose.

-----Original Message-----
From: Lynn Ostrem [mailto:lynn@bivio.com]
Sent: Thursday, October 24, 2002 8:55 AM
To: club_cafe@bivio.com
Subject: club_cafe: Re: A wash expense??


Rob, are you out there??

Thanks to Ira and Juan, but you didn't understand my
question.

The money was not club dues. Every year, our general fund
picks up the tab for the NAIC $40. But each member pays for
their own club membership. It was the annual $14 due to NAIC
that I needed to cover for these two members. I couldn't
wait around for them because I already had the invoice for a
month, and I didn't want our magazines to get suspended. I
used club funds to cover this NON-CLUB expense.

My inclination would be to charge Misc. Expense for this
money, then simply credit it with their checks. The expense
would be a wash, and it wouldn't affect the members
"Paid-In" or "Unit" columns on the Member Status Report.

Is this the correct way to handle this??

Lynn
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Thank you Ira. Your original response didn't seem to
address what I was trying to accomplish. But I understand
what you are saying now.

Unfortunately, I don't like it! <G> I'm suppose to collect
monies that were specifically made the responsibility of the
members (in the bylaws). I'm suppose to follow those
payments and account for them in club recordkeeping. If
members are late in making these payments, it affects the
Paid-In amounts that I have to reconcile.

Ira, some members pay $14 and some will be paying $25 due to
OPS. Some were individual members before joining the club,
and will NEVER be combining their dues with the club's. I
don't want to be responsible for keeping track of why some
membres' Paid-In capital changed and why some didn't.

I think I'd rather make a simple wash entry and be done with
it. Besides, it's not my responsibility, as club treasurer,
to make sure each member deducts all the right investing
expenses on their taxes. That's a job for their tax
preparer.

Am I being a pest yet?! <G>

Lynn