Best Practices - Invoices and Payments

Each club / class organization is unique.  Best practices for invoices and payments are as follows:

• Adopt a policy of FULL AUDIT TRAIL.  If an invoice has been sent and/or payments applied against the invoice, do not edit/change the invoice; if changes are needed, create a new invoice.
  • Changing an existing invoice may cause issues with synchronizing with a ledger system
  • Changing an existing invoice may cause issues associated with installments
  • Changing an existing invoice may make it harder for an accountant and/or auditor to manage their responsibilities
• Limit the number of admins that can create/edit/delete invoices and/or payments
• Set up Nominal (ledger account) codes for each invoice line item
• When setting up a new installation of SailingClubManager (SCM), if the old system(s) have significant invoicing/payment issues you may want to consider:
  • Setting up brand new Nominal (ledger account) codes; creates a firewall between the old platform(s) and SCM
  • Giving enough room between Nominal code numbering to allow for future growth in financial reporting needs

Your club / class organization may have different policies/practices.  The above are recommended best practices.

Last updated 15:06 on 9 February 2024