How can my club or company use BillMonk?
Sometimes you need to track expenses between an organization and its members. For clubs, this may mean membership dues, reimbursing members, and for members to log out-of-pocket expenses to be paid back. For companies, this could mean tracking founder capital and expenses. To do this, create a separate account for the institution with its own email address (e.g. drama-club@myschool.edu). Then you can create bills and debts to this user just like you would with any other. The person in charge of managing finances should be the one to control this account. It’s a great idea to use BillMonk for this purpose. Not only does it make it easy to track member account balances, but you can also categorize expenses with tags and download a spreadsheet for your accounting. Companies in particular can use this spreadsheet to help prepare taxes. If you have any suggestions for how to make BillMonk better suited for club and company use, please contact us.
