We have a couple of members who put in the full amount of
their contributions for the upcoming year in a lump sum.
What is the proper way to enter this transactions and how
should i treat their payment entry each month? Thanks in
advance.

Tim Thomas wrote:
> We have a couple of members who put in the full amount of
> their contributions for the upcoming year in a lump sum.
> What is the proper way to enter this transactions and how
> should i treat their payment entry each month?
 
One way to do this is to use a Suspense account to track the
amount. Record a transfer for the full amount from the Suspense into
the account which received the deposit. Then record the member's
payment into the Suspense account for the future payments. The real
account should remain in balance, and at the end of the year the
Suspense account will return to a zero balance.
 
You can find more info here:
 
https://www.bivio.com/trez_talk/mail-msg?t=6779200003
 
https://www.bivio.com/hp/suspense-account.html
 
Paul Moeller
bivio, Inc.

I would say it depends first on your partnership agreement or bylaws,
and then, if not contraindicated by those documents, I would use the
entire lump sum to purchase units immediately. Your partnership
agreemnt should address the frequency of contributions. For example, an
agreement may specify regular, monthly contributions which would
prohibit a single lump sum annual contribution.

John Munn

Tim Thomas wrote:

>We have a couple of members who put in the full amount of
>their contributions for the upcoming year in a lump sum.
>What is the proper way to enter this transactions and how
>should i treat their payment entry each month? Thanks in
>advance.
>
>
>