Regular payments

Can someone please advise the correct method for handling regular payments by members (customers) that are not immediately invoiceable for a specific purpose.

Equally the payments received do not belong to the business until invoiced and there is always a balanced left at the end of the year which is carried over to the next or refunded.

It is important to know how much each member has deposited and the balance on their account at any time.

Are customer deposits the approach. At the moment I use a liability account for each member. Also is there any way not to show the names of the account and just the Group on the balance sheet.

Many thanks

read this guide https://www.manager.io/guides/10555

Instead of individual member accounts:

  1. Activate under Customise the Special Accounts tab
  2. Then create a BS - Liability account called “Members Balances”, tick the Control Account box and select made up of Special Accounts.

0000000 Bug 6

  1. Now create member accounts under the Special Accounts tab and nominate Member Balances as the control account.

0000000 Bug 6a

  1. When you receive money from members the Receive Money Account line would be

0000000 Bug 4would be

  1. When you create an invoice for the customer, you create a zero invoice via a negative contra line.

Now you have all requests
a) Handling regular receipts from members that are not yet invoice able for a specific purpose.
b) The receipts are not income until invoiced.
c) You can tell how much each member has deposited.
d) The balance on their account at any time.
e) The balance left at the end of the year can be carried over or refunded.