Preparing and Conducting a Shareout

Preparing and Conducting a Shareout

This guide is designed to help DreamSave users understand the necessary steps to prepare for conducting a shareout. A shareout is a crucial event where members receive returns on their savings and contributions. Proper preparation ensures a smooth and transparent process.

Preparing for Shareout

  1. Initiate a Meeting. Complete attendance, opening summary and savings steps.
  2. Under 'Loan Repayments,' the bookkeeper must start by confirming with each member whether they can repay with cash before proceeding. If they can, select the respective member, scroll down, and choose 'Pay Balance from Savings.' Fill in the payment details and click 'Done.'
  3. Ensure all members have paid any outstanding fines under 'Fines'.
  4. The group must finish this meeting with no outstanding money owed. This includes loans or fines.
Loan Repayment Options: Members with loan amounts larger than their savings can either pay the balance in cash or clear the amount their savings can cover and pay the remaining balance in cash.
Paying Fines: Currently, paying fines from savings is not an option, but it may be developed in future updates.

Conducting a Shareout

Meeting Status: Ensure no meeting is open when conducting a shareout.
Outstanding Balances: All outstanding loans or fines must be settled before proceeding with the shareout. Refer to Preparing for Shareout

  1. Access Shareout Calculator:

    1. Return to the 'Meetings' tab and select 'View Shareout Calculator'.
    2. Review the current totals 'By Group' and 'By Members'. Then click 'Continue to Shareout'.
    3. Follow the on-screen steps to proceed with the shareout'.

    • Related Articles

    • Updating Shareout Date

      This guide is for DreamSave Groups seeking to update the shareout date mid-cycle. For example, if a group decides to extend a 6-month cycle to a full year, this can be accomplished with ease. Begin by accessing the 'Setup' section in your DreamSave ...

    • Updating Constitution Policies: Interest Rates

      This article guides DreamSave users on how to update their group's Constitution policies, specifically focusing on adjusting interest rates and understanding its implications on members. For instance, if a group decides to increase their interest ...

    • DreamSave Insights Glossary

      DreamSave Insights Glossary Definitions and Formulas for Terms found in DreamSave Insights Last Updated: November, 06, 2023 Below is a list of terms (in alphabetical order) from DreamSave Insights along with their descriptions and formulas. If you ...

    • DreamSave And SMS Notifications

      DreamSave Messages Can Replace Passbooks The DreamSave app helps savings groups grow faster by making it easy to keep records, achieve financial goals, and build credit history. But DreamSave was also designed to send SMS receipts and notifications ...

    • DreamStart Labs Data Privacy Policy

      DreamStart Labs Commits to Protecting Your Privacy DreamStart Labs, Inc. is committed to protecting the privacy of our users and being a proactive advocate for consumer protection. Our data privacy policy is based on the European Union’s General Data ...