What is the best way to handle prepaid dues for the entire
year? Or for that matter for several months?



Judith Greenberg

Judith, since the club will have the money in their account to use for
purchases or expenses, and the member no longer has it in her bank account,
the only equitable way is to post it for her as member payment when she pays
it, and make a note in comments that she is paid up until x/x/xx. Many
clubs have members who prefer to prepay annually or quarterly, or before a
long vacation. Gene Rooks, SWIM Club, Orlando

How does the member's money get allocated by month to share units along
with the other member's payments?

Gene Rooks wrote:

> Judith, since the club will have the money in their account to use for
> purchases or expenses, and the member no longer has it in her bank
> account, the only equitable way is to post it for her as member
> payment when she pays it, and make a note in comments that she is paid
> up until x/x/xx. Many clubs have members who prefer to prepay
> annually or quarterly, or before a long vacation. Gene Rooks, SWIM
> Club, Orlando
>
>
>

It doesn't, and there is no need for it to. Most clubs have members who
have joined at various times and with different levels of beginning
contributions. All that matters is that you post payments to buy units for
each person when they pay, and those units are priced at the valuation they
are that month. You will expect them to pay at least the minimum required
by your PA over the year without being behind. Investing more, or ahead of
time, doesn't hurt a thing. Make notes in comments, and audit Individual
Unit Ledgers occasionally to be sure everyone is current, and that those
paid ahead are noted as to when they need to resume payments. If you are
trying for 'equal' membership, forget it ;-) . The software is designed
to keep up fairly with each members contributions at the time they are
posted. Gene

Thank you!!!!!

Gene Rooks wrote:

> It doesn't, and there is no need for it to. Most clubs have members
> who have joined at various times and with different levels of
> beginning contributions. All that matters is that you post payments
> to buy units for each person when they pay, and those units are priced
> at the valuation they are that month. You will expect them to pay at
> least the minimum required by your PA over the year without being
> behind. Investing more, or ahead of time, doesn't hurt a thing.
> Make notes in comments, and audit Individual Unit Ledgers occasionally
> to be sure everyone is current, and that those paid ahead are noted as
> to when they need to resume payments. If you are trying for 'equal'
> membership, forget it ;-) . The software is designed to keep up
> fairly with each members contributions at the time they are posted.
> Gene
>
>
>