sort out bank accounts

[chadwhitacre]

Right now money goes into Zeta Design & Development, LLC's checking account with New Alliance Federal Credit Union. We need to separate the account that the sum of gittip balances are held in from the account out of which Zeta pays for Gittip's operational costs. I believe this may already be the case, but if so it's because I'm paying for Heroku out of my personal checking account. Straighten it out.

[chadwhitacre]

See also: #9, #171, #265, and #1040.

[chadwhitacre]

Working on this. Logging into Ally ...

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[chadwhitacre]

Okay, I'm into the Ally account.

[chadwhitacre]

I've verified the New Alliance account at Ally. I can now transfer funds from New Alliance to Ally.

[chadwhitacre]

My plan at this point is to use New Alliance as the marketplace account for Balanced, and Ally for everything else.

We'll transfer money each week from Balanced to New Alliance as part of payday (#1092). Balanced will take their fee back out from there. We should transfer enough each week to cover the Balanced fee and also have enough to pay out via PayPal. New Alliance is the bank account connected to our PayPal account.

I have connected the Ally account to Gittip's Gittip account, so starting tomorrow the extra money left over after gifts are given and takes are taken should go into Ally. Our Gittip balance is $1,202.07, and we have $8 in giving and $210.23 in estimated receiving. After takes we're getting about $80 a week, so I would expect to see about $1,280 deposited to our Ally account on Friday.

Once we have money in Ally we need to switch to paying vendors out of Ally instead of New Alliance (reticketed as #1506).

Once we are no longer paying operations out of New Alliance, we should figure out whether and how much we've eaten into escrow to cover operations while the funds were co-mingled in New Alliance. We'll need to transfer money from Ally to New Alliance to make good (it looks like I am able to push money from Ally to New Alliance through Ally's web UI). Hopefully any error is small enough that we can correct the error with a one-time transfer. If we don't have enough in Ally to correct the error all at once then we'll have to make regular payments from Ally to New Alliance until we're back on track.

I'll close this current ticket if/when the $1,280 initial deposit clears on Friday.

[chadwhitacre]

The figuring out of whether and how much we've eaten into escrow and the rectifying of same is #265.

[chadwhitacre]

Ran payday (#1509). Gittip history page shows a withdrawal of $1,276.69 to Ally. On track to close this ticket tomorrow.

[chadwhitacre]

Blam!

[chadwhitacre]

🏦