Access setting up database to keep track of money
I work for a non-profit and we have children in custody that receive allowances. I need an easy way to track the money that goes into their account and money that they request out of their accounts. The funds for all the children are deposited in to one bank account and we keep track of each child's balance. Currently they are using an Excel spreadsheet but I think we can do a better job of entering deposits, withdrawals and producing reports for the children with a database. I have limited knowledge of Access but I believe I could create a database for this situation but wanted some expert advice to make sure someone else thinks this is feasible.
Thanks,
Gloria
Thanks,
Gloria
SOLUTION
membership
This solution is only available to members.
To access this solution, you must be a member of Experts Exchange.
ASKER CERTIFIED SOLUTION
membership
This solution is only available to members.
To access this solution, you must be a member of Experts Exchange.
PatHartman
I agree with Jeff. If you need separate bank accounts or you need to pay interest, this is more complicated.
Yes,
I just want to be clear that I am not trying to change the focus of the question.
Again, Pat's basic design is still valid, and a great approach here.
I am sure no matter what the situation, she can get you sorted.
I only bring this up because my company does something similar, and we are "required" to maintain separate accounts.
So, while it may be "easier" to just have one account, ...It becomes a nightmare when a parent asks about how interest is divided, ...or the auditors start asking questions about who actually owns the account, and how the "separate" balances are maintained, and who can make withdraws, ..and for what reasons.
Suppose one child needs to "cash out", ...how would you proportionally assign them their portion of any interest (or deduct proportionally, any penalties)
I guess my real question is:
Why aren't there separate accounts for each child?
If something goes awry with this one account, all the children are then affected.
With separate accounts the database will only be marginally more complex, ...but the potential administrative (and possibly, legal) concerns are minimized.
Perhaps I am overthinking this, ...so I will step aside now to avoid confusion, so that Pat can continue on helping you through with this.
;-)
Jeff Coachman
I just want to be clear that I am not trying to change the focus of the question.
Again, Pat's basic design is still valid, and a great approach here.
I am sure no matter what the situation, she can get you sorted.
I only bring this up because my company does something similar, and we are "required" to maintain separate accounts.
So, while it may be "easier" to just have one account, ...It becomes a nightmare when a parent asks about how interest is divided, ...or the auditors start asking questions about who actually owns the account, and how the "separate" balances are maintained, and who can make withdraws, ..and for what reasons.
Suppose one child needs to "cash out", ...how would you proportionally assign them their portion of any interest (or deduct proportionally, any penalties)
I guess my real question is:
Why aren't there separate accounts for each child?
If something goes awry with this one account, all the children are then affected.
With separate accounts the database will only be marginally more complex, ...but the potential administrative (and possibly, legal) concerns are minimized.
Perhaps I am overthinking this, ...so I will step aside now to avoid confusion, so that Pat can continue on helping you through with this.
;-)
Jeff Coachman