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't, 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.
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Loan Repayment Options: If a member’s loan is bigger than their savings, they have two options. They can pay the full amount in cash. The other option is to use their savings to pay part of the loan and pay the rest in cash.
If they can't pay the remaining amount, the group may have to mark it as a group loss in DreamSave.
Paying Fines: Currently, paying fines from savings is not an option, but it may be developed in future updates.

Conducting a Shareout

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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'. Make sure the savings + profit amount on the “By Group” page matches the loan fund balance in the cashbox. Then click 'Continue to Shareout'.
    3. Follow the on-screen steps to proceed with the shareout'.