Chit Group Set-up, Seats and Status
A chit group is opened with its value, duration, seats, monthly subscription and commission rate. Seats are filled one by one, and the group is locked before its first auction.
What the group record holds
Each group has one page, opened when the group is decided and closed after the last auction. Nothing is held elsewhere.
Draft, active, completed
A group in draft is still filling, so subscribers can be added or moved off it and its figures changed. Locking it makes it active, raises the first instalment and puts the first auction on the calendar. After the final auction the group marks itself completed and stops raising dues.
What stays with your office
- Deciding who is suitable for a seat in a large group
- Filling the last few seats before the planned start
- Groups already half run are brought across with their tickets, auctions and ledgers, so work resumes from the next instalment
- No alert warns that a group is short of seats, so someone opens the page and checks
Frequently asked questions
Can groups of different values run at the same time?
Yes. Each group carries its own value, duration, seats, subscription and commission rate, and the groups run side by side.
What happens if a seat stays empty?
The group stays in draft and no dues are raised. A group that starts a seat short leaves the figures wrong for every month it runs.
Can the commission rate be changed after the group starts?
No, it is not meant to move. The rate is entered when the group is opened, and every auction afterwards works from it. Before go-live, the auction screen is checked against a group you closed by hand.
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