GroupCurrency

Group Currency

Group Currency is different from User Currency as it handles less transactions on a daily basis. However, a group has limited ways to get money and even more limited way to send money.

The current setup for GroupCurrency as it's being used on other grids like Secondlife is as following:

Groups do not have an account of their own, instead all group liabilities (such as land tier) and assets (such as money paid to a group-deeded object) are distributed among all members who have the ability "Pay group liabilities and receive group dividends". This ability can be found under "Accounting".

Beware, objects which are deeded to group will pay the whole group, not the original owner, if they receive money.

(Note that if the group is given money that is less than $N, where N is the number of people who will receive money, the group temporarily has an account until it gets that much money.)

Group Liability by Torley: http://wiki.secondlife.com/wiki/Video_Tutorial/What_is_a_group_liability%3F

Which pieces are what ?

• Parcel Directory Fee (Debit)

These are the fees people pay when they put a parcel in Search that is deeded to the group.

• Group Liability (Debit / Group users)

This is the liability that users with the ability have to pay, mostly Owners and Officers.

• Group Dividend (Credit)

This is what the balance in the group was divided by the amount of people that have the dividend / liability role

• Payments into the group (Credit)

This is money that comes into the group other ways like having a tipjar that is group owned. The money is being stored and then by Dividend payed out.

• Land Sales (Credit)

This is when a group owned parcel is being sold, the amount of money goes into the group and will be payed out as Dividend to the users that have the dividend / liability role