1. Overview
Group Fund is a feature that helps users record and manage shared income and expenses for a group such as a class, family, couple, colleagues, or a community group. This feature supports tracking the fund balance, each member’s contribution amount, fund transaction history, and sending fund contribution reminders when needed.
Group Fund has a separate tracking scope, used to manage a group’s shared fund, and is not included in the app’s overall personal financial reports.
The overview includes: Create Group Fund, Edit Group Fund, Delete Group Fund, Create Fund Collection Round, Record Fund Contributions, Record Fund Expenses, View Fund History, and Export Fund Data.
2. Definition
Standard feature name: Group Fund
Abbreviation: GF
Definition: Group Fund is a feature designed to record shared income and expenses for a class, couple, family, colleagues, or a community group. It helps track members’ contributions, shared income and expenses, fund balance, and supports contribution reminders when needed.
Target users: All users of the MISA MoneyKeeper app.
Related concepts
- Group Fund: A shared fund used to record income and expenses incurred for a group of people.
- Member: People participating in the group fund and whose contribution status can be tracked.
- Fund Collection Round: A collection event used to track fund contributions by purpose or by collection period.
- Fund Contribution: Money paid by members into the fund.
- Fund Expense: Money spent from the fund for a shared purpose.
- Fund Balance: The remaining amount in the group fund after income and expenses.
- Fund Transaction History: A list of all income and expense transactions recorded in the fund.
- Contribution Reminder: An action used to remind members who have not completed their contributions.
3. Steps to Follow
3.1. Create a Group Fund
Purpose: Create a new shared fund to track group income and expenses.
Step 1: Open the MISA MoneyKeeper app.
Step 2: Go to the More screen.
Step 3: Select Group Fund in the Feature List.
Step 4: Select Add New Group Fund.
Step 5: Enter the basic information, including: Fund Name, Opening Balance, Members, and Notes.
Step 6: Select Save to complete.
3.2. Edit a Group Fund
Purpose: Update fund information when there are changes.
Step 1: Open the MISA MoneyKeeper app.
Step 2: Go to the More screen.
Step 3: Select Group Fund in the Feature List.
Step 4: Select the fund you want to edit.
Step 5: Tap the three-dot icon in the top-right corner.
Step 6: Select Edit.
Step 7: Update the information you want to change.
Step 8: Select Save.
3.3. Delete a Group Fund
Purpose: Delete a fund that is no longer in use.
Step 1: Open the MISA MoneyKeeper app.
Step 2: Go to the More screen.
Step 3: Select Group Fund in the Feature List.
Step 4: Select the fund you want to delete.
Step 5: Tap the three-dot icon in the top-right corner.
Step 6: Select Delete Fund to proceed.
3.4. Create a Fund Collection Round
Purpose: Create a collection round to track contributions for each collection event.
Step 1: Open the MISA MoneyKeeper app.
Step 2: Go to the More screen.
Step 3: Select Group Fund in the Feature List.
Step 4: Select the fund for which you want to create a collection round, then create the collection round.
Step 5: Enter the required information, including: Collection Round Name, Contribution Reminder Date, Amount to Collect, and Collector.
Step 6: Select Save to complete.
3.5. Record a Member’s Fund Contribution
Purpose: Record the amount a member has contributed to the fund.
Step 1: Open the MISA MoneyKeeper app.
Step 2: Go to the More screen.
Step 3: Select Group Fund in the Feature List.
Step 4: Select the fund you want to record income for and the corresponding collection round.
Step 5: Select Record Fund Contribution.
Step 6: Enter the required information, including: Amount, Contributing Member, Receiving Account, and more.
Step 7: Select Save.
Note: You can track the remaining amount due and the number of members who have not yet contributed in the Collection Rounds section.
3.6. Record a Fund Expense
Purpose: Record money spent from the group fund.
Step 1: Open the MISA MoneyKeeper app.
Step 2: Go to the More screen.
Step 3: Select Group Fund in the Feature List.
Step 4: Select the fund for which you want to record an expense.
Step 5: Select Record Fund Expense.
Step 6: Enter the required information, including: Amount, Category, and Payment Account.
Step 7: Select Save.
3.7. View Fund History
Purpose: Track all income and expense transactions of the fund.
Step 1: Open the MISA MoneyKeeper app.
Step 2: Go to the More screen.
Step 3: Select Group Fund in the Feature List.
Step 4: Select the fund you want to track.
Step 5: View the fund income/expense history on the fund detail screen.
3.8. Export Group Fund Data
Purpose: Export all income and expense transactions of the fund to a file for storage or sharing with others.
Step 1: Open the app and select the More tab on the navigation bar.
Step 2: Select Group Fund in the Feature List.
Step 3: Select the fund whose data you want to export.
Step 4: Tap the three-dot icon in the top-right corner.
Step 5: Select Export Data and choose the export period.
Step 6: Select PDF or Excel format and enter the recipient email address to export the file.
4. Notes
Checklist
- Have you created a Group Fund yet?
- Have you entered the correct Fund Name and Opening Balance?
- Have you selected the correct Receiving/Payment Account when recording fund income or expenses?
- Have you selected the correct Collection Round and Contributing Member?
Business notes
- Group Fund is a shared fund, not a personal spending fund.
- Group Fund data is tracked separately and is not included in overall personal financial reports.
- All users can create a Group Fund.
- There is currently no limit on the number of Group Funds or the number of members in each fund.
- Group Fund does not support account sharing, so other people cannot directly operate or track the fund in the app.
- Users can only export files to send to others for tracking.
- When recording a fund contribution, make sure to select the correct Collection Round, Contributing Member, and Receiving Account.
- When recording a fund expense, make sure to select the correct Category and Payment Account.
- When a Group Fund is deleted, all related transactions and fund history will also be deleted.