Transaction Based Disbursements

If you are having trouble reconciling your disbursements from the RMS system with your organization's accounting system(eg, QuickBooks), transaction based disbursement may help.

The default method(simple) we use for disbursement deals with the aggregate amount of money we have collected on your behalf minus credit card fees and RMS fees. This works fine when running a few regattas a year.  Once the regatta is completed and all entries are marked as paid, you can request the net amount for that regatta directly, the P&L for that regatta is shown right on the payments tab of our system.

When you run a variety of regattas that overlap or use our membership tools that have a constant stream of income through out the season., it can be difficult to translate these payments into which bins they belong, on your organization's P&L.

Transaction based disbursements allows you to specifically identify the individual transactions to paid  in each particular transaction. Each payment has a report associated with it showing the details of what is included in that payment.  Since each transaction is essentially being  "cleared" through our system it comes with some additional limitations:

On simple way to deal with these limitations is to wait a period of time 30 days before transferring the funds.  By then the transaction should be stable and not require any of the above actions. To make this simple we have a option to select all transaction 30 days or greater on the selection screen.

To set this up visit the org setup section of your admin account in our system.

Note you must be using bank to bank transfer to use this option.