What's the best way to go about expensing the $99 club fee
to all members. Say that one member puts the subscription
on their credit card. Obviously, the club owe's them $99,
minus their portion. Since the fee comes out of all member
units, should you just issue a check from the brokerage
account for $99 to the member and then record an expense in
the accounts section?

thanks for the help...

Micah Sampson writes:
> What's the best way to go about expensing the $99 club fee
> to all members. Say that one member puts the subscription
> on their credit card. Obviously, the club owe's them $99,
> minus their portion. Since the fee comes out of all member
> units, should you just issue a check from the brokerage
> account for $99 to the member and then record an expense in
> the accounts section?

There's a detailed example and explanation in The One Minute
Treasurer(tm) manual:

http://www.bivio.com/club_cafe/files/TheOneMinuteTreasurer.pdf

It starts on page 29.

In short, you need to expense the $99, because it is a club expense.
However, you reimburse the member with units in the club. The two are
unrelated transactions in that the club gets to deduct the expense,
which is then allocated to the members, and the reimbursement for the
expense is a cashless transaction between the member who pays the
expense and the club, which in effect is a loan that's paid back in
units.

I hope that makes sense. :-)

Cheers,
Rob

Micah Sampson writes:
> What's the best way to go about expensing the $99 club fee
> to all members. Say that one member puts the subscription
> on their credit card. Obviously, the club owe's them $99,
> minus their portion. Since the fee comes out of all member
> units, should you just issue a check from the brokerage
> account for $99 to the member and then record an expense in
> the accounts section?

There's a detailed example and explanation in The One Minute
Treasurer(tm) manual:

http://www.bivio.com/club_cafe/files/TheOneMinuteTreasurer.pdf

It starts on page 29.

In short, you need to expense the $99, because it is a club expense.
However, you reimburse the member with units in the club. The two are
unrelated transactions in that the club gets to deduct the expense,
which is then allocated to the members, and the reimbursement for the
expense is a cashless transaction between the member who pays the
expense and the club, which in effect is a loan that's paid back in
units.

I hope that makes sense. :-)

Cheers,
Rob