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Module Guides10 min read

Member Ledger

Operational guide to tracking member capital accounts, recording buy-in payments, reviewing capital history, and logging manual identity (KYC) verification.

Individual Member Capital Accounting

While the Financial Core tracks the cooperative's overall financial health, the Member Ledger tracks individual member holdings: each member's role, class, status, buy-in, capital balance, and the history behind that balance.

1. Capital Account History

Every change to a member's capital balance is recorded as a dated entry tagged with a year, the amount, the resulting balance, and a note. Entries come from:

  • Buy-Ins & Contributions: Amounts recorded at onboarding, later capital contributions or withdrawals, and probationary activations.
  • Patronage Allocations: Retained allocations posted by the Patronage Engine, tagged with the distribution year (e.g. a "2024" allocation) to help track board redemption policies.
  • Other Modules: Approved share trades, housing rent equity credits, equipment maintenance cost shares, and time-credit conversions.

2. Buy-In Tracking

Each member profile shows the buy-in paid next to the buy-in their class requires:

  • Recording Payments: Log capital contributions as they arrive. Each one updates the capital account and posts a matching general ledger entry.
  • Outstanding Balances: Use the paid vs. required figures to follow up on incomplete buy-ins. OwnFold does not send automatic payment reminders or suspend voting rights on its own; those decisions stay with your board.

3. Reviewing Capital Balances

Administrators open a member's profile to see their total paid-in equity, capital balance, year-by-year capital history, and buy-in status. OwnFold does not generate a separate member-facing equity statement, so share these figures with members as your bylaws require.

4. Identity Verification (KYC) Records

Some activities, such as share trades, require confirming a member's identity. OwnFold doesn't run identity checks itself, but it records the outcome of your own review:

  • An administrator marks a member as verified (or revokes verification) with an optional note, and the change is recorded in the audit log with who made it and when.
  • Each member shows a KYC status of PENDING or VERIFIED. Share Trades only accepts requests from verified members.