Student Activities: Processing Transactions when utilizing the Recommended Setup

Deposits:   Deposits are recorded as a refund against the individual account line.  When posting the refund, you can create a vendor titled ‘Student Activities” and post all of the student activity refunds to the same vendor.   When the Refund is applied, the Cash is increased and the refund is reflected in the Expense account as a negative disbursement (and a corresponding positive balance).

Checks:  Checks are processed through the normal purchase requisition / purchase order process. You have the option of setting up account groups and approval chains for each individual Student Activity club or sport and assigning the individual account group to the respective club advisor. The building principal should be assigned all of the account groups and approval chains for his/her building so all of the Student Activity purchase requisitions route to the principal for approval.  

Individual Account Balances:  If the respective club / sport has a positive balance, that means the deposits (or refunds) are in excess of the checks & purchase orders and if there is a negative balance it is an indicator that the club / sport has spent / committed more funds than they have raised for the school year.