Review the liability account balance for your members.
Reporting Tab >Scroll all the way down to the Accounting Section >
Liability Account Balance> Run.
What is "Liability" Income?
Liability usually means that you are responsible for something, and it can also mean that you owe someone money or services. For example, You collect a Security deposit from your members. That is income that you have to return to the member once their lease is up and they move out.
How do I assign Liability Income on greekbill?
When you assign a charge to a member there are some options in the provided COA "Chart of Accounts" in the drop-down that is coded as a "Liability" income. Based on if you select this chart of accounts you will be able to view the charges on this report.
Typically the Liability Income is considered any type of deposit such as a Key, Room, or Security... Etc but it can be any type of income that your chapter can not spend.
Liability Account Balance report will track:
- Liabiity income - Amount Billed
- Liabiity income - Amount Paid
- Liabiity income - Amount Owed
- If the chapter has Reimbursed / Deducted any Libaility Income to the member
- Balance of any liability Income
This will help you keep track of liability Income collected and paid back to your members.