Client Money Calculator
Use this simple tool to track a running balance for a single client. Enter an amount and choose whether to add it to the balance (e.g., payment received) or subtract it (e.g., expense paid on their behalf).
The balance resets when the page is reloaded. Ensure consistent currency units for all transactions.
Record Transaction
Understanding Client Money
What is Client Money?
Client money refers to funds held by a business or professional on behalf of their clients. This could include prepayments, deposits, funds for specific projects, or money held in escrow. Managing client money accurately is crucial for trust, legal compliance, and financial transparency.
Why Track Client Money?
Proper tracking ensures you always know how much money you hold for each client, when funds were received or spent, and what the current balance is. This prevents errors, disputes, and ensures regulatory requirements are met in industries like law, real estate, finance, and agencies.
Client Money Examples
Here are some common scenarios for tracking client money:
Example 1: Initial Client Deposit
Scenario: Client A pays an initial deposit.
Action: Enter 500 in the Amount field and click "Add Amount".
Result: Balance becomes 500.00.
Conclusion: You now hold $500 for Client A.
Example 2: Receiving a Payment
Scenario: Client B makes a payment towards an invoice.
Action: Assuming the balance was 200, enter 350 and click "Add Amount".
Result: Balance becomes 550.00.
Conclusion: The client's balance is now updated.
Example 3: Paying an Expense on Client's Behalf
Scenario: You use client funds to pay a filing fee.
Action: Assuming the balance was 1000, enter 75 and click "Subtract Amount".
Result: Balance becomes 925.00.
Conclusion: The balance reflects the spent funds.
Example 4: Multiple Transactions
Scenario: Track several transactions for a client.
Actions: Start at 0. Add 200 (Balance: 200). Subtract 50 (Balance: 150). Add 150 (Balance: 300).
Result: Final Balance is 300.00.
Conclusion: The calculator tracks the running total.
Example 5: Zero Balance
Scenario: A client's funds are fully used or returned.
Action: If the balance is 100, enter 100 and click "Subtract Amount".
Result: Balance becomes 0.00.
Conclusion: The balance is zero, indicating no funds held.
Example 6: Small Amounts
Scenario: Handling transactions with decimals.
Actions: Start at 0. Add 15.75 (Balance: 15.75). Subtract 3.20 (Balance: 12.55).
Result: Final Balance is 12.55.
Conclusion: The calculator handles decimal values.
Example 7: Adding Zero
Scenario: Recording a transaction of zero (perhaps an error correction or note).
Action: If the balance is 500, enter 0 and click "Add Amount".
Result: Balance remains 500.00.
Conclusion: Adding zero doesn't change the balance.
Example 8: Subtracting Zero
Scenario: Recording a zero subtraction.
Action: If the balance is 500, enter 0 and click "Subtract Amount".
Result: Balance remains 500.00.
Conclusion: Subtracting zero doesn't change the balance.
Example 9: Balance Going Negative (if allowed)
Scenario: Subtracting more than the current balance.
Action: If the balance is 100, enter 150 and click "Subtract Amount".
Result: Balance becomes -50.00.
Conclusion: The calculator can show a negative balance (indicating client owes funds or an error occurred).
Example 10: Using Different Currencies (Conceptual)
Scenario: Tracking USD funds for a client.
Action: Use the tool as normal, e.g., Add 75.20. Mentally treat all values as USD.
Result: Balance shows 75.20. (This tool doesn't convert currencies).
Conclusion: Consistency is key. Use one currency per use of the tool.
Important Notes
This is a *basic* calculator. It runs only in your browser window. The balance is *not* saved permanently and will reset if you close or refresh the page. It does not handle multiple clients simultaneously or track transaction history. For robust client money management, dedicated accounting software is required.
Frequently Asked Questions about Client Money Calculators
1. What is the purpose of this calculator?
Its basic purpose is to provide a quick way to sum up transactions (payments in, expenses out) to see a running balance for a single client or project within your browser session.
2. Is the balance saved if I close the page?
No, this is a simple client-side tool. The balance is stored only in the browser's memory while the page is open. If you refresh or close the page, the balance will reset to zero.
3. Can I track multiple clients with this tool?
No, this basic version is designed to track a single running balance. To track multiple clients, you would need to use separate instances of the tool (on different pages/tabs) or use proper accounting software.
4. What kind of transactions can I record?
You can record amounts to add (like payments received) or subtract (like expenses paid on behalf of the client). The input field takes a non-negative numerical value, and the buttons determine whether it's added or subtracted.
5. Does it handle different currencies?
The calculator itself does not handle currency conversions. You should enter all amounts in a consistent currency (e.g., all USD, or all EUR) for a meaningful result.
6. What if I enter text or an invalid number?
The calculator includes basic validation. If you enter something that isn't a valid non-negative number, it will display an error message.
7. How accurate is the calculation?
The calculations use standard JavaScript floating-point arithmetic. For very complex financial tracking with high precision requirements, dedicated financial software is always recommended.
8. Can the balance go negative?
Yes, if you subtract an amount larger than the current balance, the result will be a negative number.
9. Is this tool suitable for formal accounting records?
Absolutely not. This tool is for quick, temporary calculations within a browser session only. Formal client money tracking requires compliant accounting systems and proper record-keeping.
10. How do I clear the current balance?
Simply refresh the page. The balance resets to zero on page load.
