Accounting For Deposits

There are three types of deposits:

Deposit To Member Account

The example on the left shows a "Deposit To Member Account" transaction.

This is how you should handle any funds received from a troop member, regardless of whether the purpose is to pay for past expenses or to add to their account to cover future expenses.

The Transaction Date is the date you received this payment from the troop member.

The Deposit Date is when you expect to deposit this payment in your troop bank account.

The Description should indicate the name of the person as a cross-check for the Credit To Person selection.

Reference is a good place to enter the check number.

Amount is the amount of the deposit.

Credit Troop Account should be set to the bank account to which you plan to deposit this payment.

This payment will also credit this member's account, which you select under Credit To Person.

Credit Subaccount will default to the default personal subaccount.

If you are doing fund accounting, you should also select the Credit Fund whose balance will be increased by the amount of this deposit.

Deposit To Troop Account

Sometimes your troop will receive funds from an outside source, like a donation.

When these funds are deposited, they should only credit the troop account, not any individual members.

As shown at right, use a "Deposit To Troop Account" transaction to record this deposit.


Deposit To Troop Account From Fundraiser

When you receive funds from a fundraiser, those deposits should be posted both to your troop checking account and to the fundraising event.

Use the "Deposit To Troop Account From Event" transaction type to record this deposit, as shown at left.