Post To Question

Robert Smits labour at telus.net
Sat Apr 14 16:21:36 EDT 2007


On Thursday 12 April 2007 18:17, Arthur Dyck wrote:
> Technically, it's not the correct usage of a AR account which is assets
> expected but not yet received.  I would create an asset account like
> Undeposited Funds to record the checks and then make a transfer to your
> checking account when deposited.  It would make your balance sheet
> easier to understand for your members.

I have a somewhat similar problem here. I do the accounts for a small labour 
council. Dues for the council are $.25 per member per month. I've been 
dealing with dues in a spreadsheet to give me an idea of what to expect, but 
I'd like to set up accounts receivable and billing. 

I can certainly create accounts receivable for each local union, even though 
I'd need to estimate the amounts based on previously received dues. (The 
number of members fluctuates according to the time of year, etc.)

I don't understand, I guess the nature of what's incorrect about what he 
proposed. Could you expand on that?

Bob
-- 
Robert Smits Nanaimo, Duncan & District Labour Council
Phone 250-753-0201 Fax 250-753-2954 E-mail labour at telus.net


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