Tracking Contact Balances: The Basics

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If your group charges dues or sends out statements, it’s helpful to understand how to track contact balances in MoneyMinder. 

In this quick overview, we’ll walk through the basic process. For detailed, step-by-step instructions, click here. 

Start by making sure all of your contacts are entered into MoneyMinder. If you already have a contact list, you don’t need to enter them one by one—we can import the list for you. Be sure to review the import guidelines for detailed instructions on how to format and submit your contact list. 

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Activity Accounts

To track balances and send statements, each contact needs an Activity Account. This is where you’ll record charges and payments, and where you can view each contact’s balance history. 

You can add Activity Accounts individually. 

Or in bulk to multiple contacts at once.

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Obligation Templates

Obligation Templates are used to apply specific charges to your contacts. 

For example, if you’re collecting HOA dues, you’d create an HOA Dues Obligation Template with the amount owed. 

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Once the template is created, apply it to your contacts to add that charge to their accounts. 

Just like Activity Accounts, Obligation Templates can be applied individually or in bulk. 

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Statements

After charges are applied, you’re ready to send statements. 

MoneyMinder includes a default statement template, or you can create your own and include your logo and a link for online payments. Statements can be emailed or downloaded, and sent individually or to a group.

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Payments 

When a contact makes a payment—for example, for HOA dues—you’ll record that payment as a deposit in the banking section and apply the payment to the contact. 

Once applied, it will appear in their Activity Account. 

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Let’s recap

To track balances and send statements in MoneyMinder: 

• Each contact needs an Activity Account 

• Obligation Templates must be created and applied 

• Statements can be emailed or downloaded 

• And payments should be applied when deposits are recorded 

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