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Author Topic: Contribution  (Read 1846 times)

Ralph

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Contribution
« on: April 18, 2016, 01:30:38 AM »
Hi,

I've started a new band project with 11 people and we rented a rehearsal room so we Have expenses.
now we decided that everyone pay's contribution till the gigs come in. and compensate when we have income from the gigs.

how can I book this the best way in Bandhelper? in theory the Contribution is an expense for every band member that payed but on the other hand is it an income for the band. I already made a Fund with the name of contribution.
 

arlo

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Re: Contribution
« Reply #1 on: April 18, 2016, 08:27:12 AM »
I wouldn't create a fund for this. Someone in the band (probably you) paid for the rehearsal room, so you should log that as an expense paid by you and shared by everyone in the band. Then on the Finance > Totals page, you will see that everyone else in the band has a negative balance.

Then as you get paid for gigs, someone in the band (probably you again) will receive the money, so you should log that as income received by you and shared by everyone in the band, and keep the money. Each time this happens, the negative balances will decrease.

When the balances on the Finance > Totals page turn positive, that's when you would start distributing the money you receive to your bandmates. You would log that as a distribution.

The Tracking Finances tutorial goes into this in more detail:

http://www.bandhelper.com/tutorials/tracking_finances.html

Ralph

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Re: Contribution
« Reply #2 on: April 19, 2016, 03:16:47 AM »
Hi Arlo,

This was my first plan only now I don't have track who have made a contribution and who don't . and not all band members are at the rehearsal room every time. for instance we have a brass section that is there once a month so they don't have to pay for every time.

everybody brings in 10 euros and when day are there I put them on the expense list of the rehearsal room

for now i made a spreadsheet for that matter but it is not ideal.

arlo

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Re: Contribution
« Reply #3 on: April 19, 2016, 10:02:55 AM »
I don't understand your requirements. If I come to practice four times and pay $40 total, and someone else comes to practice once and pays $10 total, will we both receive the same amount when it is time to get paid, or should I receive more to cover my larger contribution?