Knowledge base
The words Penny Monet uses, what they mean and how they relate. Followed by a few short articles on the ideas behind the app.
Glossary
Articles
A treasurer can hold €900 of group money and at the same time be owed €40 by the group for something they advanced. Those are two different facts, and Penny Monet keeps them apart: the €900 is in their group pot, the €40 is a receivable in their overview.
Mixing the two is how groups lose track. Keeping them apart means the group balance always matches the money that is really there, and every person can see their own position.
If an app automatically sets credits against debts, the result is one tidy number and a lot of questions: which payment went where? Penny Monet keeps every credit and every debt as its own item with its own source.
When netting makes sense, an authorised person offsets one credit against one debt on purpose. The offset is visible to everyone involved and can be reversed with a correction.
Planning is useful, but plans aren’t money. An expected item shows where the group is heading without changing the current balance. When it becomes real, it is recorded once with the actual amount and date.
The outlook assumes that all open expectations happen and that contributions are paid. It doesn’t predict the order of payments or a bank balance on a specific day.
Corrections and withdrawals are struck through and remain visible, with the new line beneath. Every change records who did what and when. That makes a group’s books easy to account for, at the annual meeting or at the end of a weekend away.
