Christmas Club

Contributing User Whanau-Meats
11 Posts
Contributing User
New Zealand
Solved: Go to Solution

Christmas Club

Hi all!  I am such a noob that I never quite know where to post lol...

 

Has anyone set up a Christmas Club before?  We are a small butchery in the Far North of NZ and had numerous customers requesting a Christmas club type account which we have set up and run via an 'invoice' type system so an invoice is set up to say $100 and whenever they deposit money then this comes off the overall amount.  Being such a newby and just learning as I go though - I can't seem to work out how to change the invoice if they spend some of what's in their account as opposed to just using it all up at Christmas time??  So say they have $80 'paid' off their 'invoice' i.e. $80 in their account and then they come in and spend $37.44 - how would I adjust the invoice to reflect this?  I'm guessing it's a spend money or something along those lines but I am barely on my Learners license when it comes to all of this accounts business so any help, much appreciated thank you!

 

PS Sorry I posted this in the 'ideas' stream and don't know how to delete it...

2 REPLIES
Contributing User Whanau-Meats
11 Posts
Contributing User
New Zealand

Christmas Club

Hi all!  I am such a noob that I never quite know where to post lol...

 

Has anyone set up a Christmas Club before?  We are a small butchery in the Far North of NZ and had numerous customers requesting a Christmas club type account which we have set up and run via an 'invoice' type system so an invoice is set up to say $100 and whenever they deposit money then this comes off the overall amount.  Being such a newby and just learning as I go though - I can't seem to work out how to change the invoice if they spend some of what's in their account as opposed to just using it all up at Christmas time??  So say they have $80 'paid' off their 'invoice' i.e. $80 in their account and then they come in and spend $37.44 - how would I adjust the invoice to reflect this?  I'm guessing it's a spend money or something along those lines but I am barely on my Learners license when it comes to all of this accounts business so any help, much appreciated thank you!

Ultimate Partner jenniek
2,072 Posts
Ultimate Partner
New Zealand
Accepted Solution Solved Solution

Re: Christmas Club

Hi there @Whanau-Meats

The only solution I can think of is to create an account for each customer in the current liabilities in the balance sheet (Accounts List) so that you can receive a payment against this account - through banking - receive money. Then at the end of the year when they spend the money, you will invoice them for the goods, then credit the amount already paid off this account leaving the invoice with a nil balance of some still owing. It's not an ideal method, because Essentials doesn't allow for credit amounts to be processed on an account with no invoices outstanding. it depends o how many customers you are talking about to. It might be better to maintain this outside of Essentials.

Regards,
Jennie Kingma
JK Business Systems Ltd, Hamilton, NZ
Email: jennie@jkbusiness.co.nz
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