In our club all new members are charged a one time $100.00
fee upon joining the club. Are there any suggestions on how
I can take care of the accounting side of this transaction.
Wayne

We require the initial contribution of $100.00.
----- Original Message -----
From: "Jeanne Tieken" <jeannetieken@gmail.com>
To: "The Club Cafe" <club_cafe@bivio.com>
Sent: Friday, November 12, 2010 8:23:51 PM
Subject: Re: club_cafe: Initiation Account



We charge $25 and call it a "joining fee." 
 
.On Fri, Nov 12, 2010 at 6:38 PM, Wayne Pisanchyn < waynej3@bivio.com > wrote:


In our club all new members are charged a one time $100.00
fee upon joining the club.  Are there any suggestions on how
I can take care of the accounting side of this transaction.
Wayne

> In our club all new members are charged a one time $100.00
> fee upon joining the club. Are there any suggestions on how
> I can take care of the accounting side of this transaction.

> We charge $25 and call it a "joining fee."

> We require the initial contribution of $100.00.

Requiring a minimum initial investment is OK, as long as it all buys club
units. Record it like any other member investment in the club.

In all club accounting software, "fee" means "penalty". Use a "fee" ONLY to
penalize a member for doing something wrong (like writing an NSF check).

Be aware that attempting to charge a "non-refundable" fee (or initiation
amount, or whatever you want to call it) will cause trouble later.

See http://biwiki.editme.com/ClubFees and
http://biwiki.editme.com/nonrefundablefees .

-Jim Thomas