Club Dispursement

System Management System Management Club Dispursement

This document provides technical guidance for users of the FLEX system regarding the Club Disbursement program. This program facilitates the disbursement of funds from club accounts (e.g., Holiday Club, Vacation Club) through checks or transfers, based on account coding.

Note: Running Club Disbursements does not automatically post dividends prior to disbursement.

1. Club Disbursement Worksheet

The Club Disbursement Worksheet generates a preview of all disbursements that will be posted when the Club Disbursement option is executed. It is highly recommended to run this worksheet before the actual posting.

1.1. Accessing the Worksheet

The Club Disbursement Worksheet can be found in the FLEX Main Menu under Transfers.

  • FLEX Main Menu
    • Transfers
      • Club Disbursement Worksheet

1.2. Worksheet Parameters

When running the worksheet, you will be prompted to enter the following parameters:

  • Share type to disburse:
    • Indicate the specific type of share account for disbursement (e.g., VC for Vacation Club, HC for Holiday Club).
  • Bank Number (Checks Only):
    • If bank numbers are utilized, specify the cash-in-bank general ledger account that checks should affect.
  • Retain Minimum Balance? (Y/N):
    • Indicate whether the account balance should be reduced to zero or if a minimum balance should be retained (if applicable).
  • CHOOSE 1 OPTION: (Select one of the following two options for accounts coded as “Blank” for Annual Disbursement Options)
    • Default to Suffix Number:
      • Specify the suffix to which funds for accounts with a blank Annual Disbursement Option should be transferred.
    • Default to Check (Y=Yes for checks):
      • Enter Y to indicate that accounts with a blank Annual Disbursement Option should generate checks.

Important Note: Both “Default to Suffix Number” and “Default to Check” options will cause all accounts to disburse unless they are specifically coded N (No Distribution) in Share Maintenance. If an account is coded T (Transfer), the disbursement will be directed to the account/suffix specified in Share Maintenance. The “Suffix option” (Default to Suffix Number) will produce checks for accounts coded C (Check) in Share Maintenance. Refer to Share Maintenance for details on coding the referenced fields.

1.3. Generating Worksheets

After entering the appropriate parameters, press Enter to generate the worksheets. FLEX will produce two worksheets:

  • One detailing transfers that will occur.
  • One detailing checks that will be printed.

2. Club Disbursement Posting

The Club Disbursement program posts all disbursements listed in the previously generated worksheet.

2.1. Accessing the Program

The Club Disbursement program can be found in the FLEX Main Menu under Transfers.

  • FLEX Main Menu
    • Transfers
      • Club Disbursement

2.2. Posting Parameters

The parameters for posting are similar to the worksheet, with additional options for check printing:

  • Share type to disburse: (Same as worksheet)
  • Bank Number (Checks Only): (Same as worksheet)
  • Retain Minimum Balance? (Y/N): (Same as worksheet)
  • CHOOSE 1 OPTION: (Select one of the following two options for accounts coded as “Blank” for Annual Disbursement Options)
    • Default to Suffix Number: (Same as worksheet)
    • Default to Check (Y=Yes for checks): (Same as worksheet)
  • Print checks alphabetically (Y/N):
    • N = Print checks in account number order.
    • Y = Print checks in alphabetical order.
  • Print check amount in words (Y/N):
    • N = Do not print words for the amount on checks.
    • Y = Print words for the amount on checks.

2.3. Confirmation and Execution

After entering the parameters and pressing Enter, a screen will display:

  • The number of checks to be printed.
  • The number of accounts that will have a transfer performed.

You will then have the following options:

  • F1 = Disburse and Print: Press F1 to proceed with the Club Disbursement, update all relevant files, and generate checks.
  • F3 = Exit: Press F3 to exit the procedure without printing checks, performing transfers, or updating accounts. This will cancel the Club Disbursement process.

3. Share Maintenance

Share Maintenance allows for individual account overrides of the default suffix number and default check parameters set in the Club Disbursement option.

3.1. Annual Disbursement Options

Within Share Maintenance, the “Annual Disbursement Options” section controls how funds are disbursed for a specific account.

  • Transfer or Check: Select the method of disbursement from a dropdown:
    • No Distribution: Funds remain in the account.
    • Transfer: Funds are transferred to the account/suffix specified in the next two fields.
    • Check: Funds will be disbursed in the form of a check.
  • Account Transfer To: If “Transfer” is selected, enter the account number to which funds will be transferred.
  • Suffix Transfer To: If “Transfer” is selected, enter the suffix to which funds will be transferred.