Can members pay ahead ?

Sometimes you may run into a situation where a member asks if they can pay ahead for one or more months. If the club decides to accept the member paying ahead, there are two primary ways you can handle this with our Accounting system:

1. The easiest way to handle an advance payment is to enter it when it is collected (if not post-dated). This is the recommended method. In this case, the member acquires all their units for the advance payment at the current value. This will result in the member ending up with different units from other members who do not pay in advance and acquire their units on the regular schedule. Depending on when the deposit is made, and how the value of the club changes due to security values, the member paying in ahead of time may earn more or less units than those paying in on a regular schedule.

2. Have the member give you a post-dated check for each advance payment. Deposit the post-dated checks and enter the payments at the same time you deposit and enter the other members' checks for the same dates. In this way, all members receive their units and distributions at the correct time with no advantage or disadvantage to any of the members.