Menu - Accounting
Aug 4, 2023 06:55 AM
This can be considered as a locked account or a security deposit that ensures each member always has funds available to cover any potential debts or expenses related to the property. This amount is refunded to the member when they leave the property or can be used to make payments in case of unpaid debts.
In summary, "Treasury" is a locked guarantee on each member's personal account to cover any potential debts or expenses related to the property. This ensures that each member has the necessary funds to fulfill their financial obligations within the property.