Expense Reimbursement

Leonard J Delmolino on

We are planning to reimburse one of our club members by
writing a check against our brokerage account. What is the
proper way to do this in Bivio? Do we just enter it using
the Expense transaction against our brokerage account? Or is
it similar to a member withdrawal where we initially enter
it into a special Account using the Expense transaction
("Reimbursements" in this case) and balance back against
this account when the check is cashed.

Thanks in advance for your help!

Len Delmolino
Treasurer, Oak Point Investment Club
Middleboro, MA

Laurie Frederiksen on

Hi Len,

You could enter the expense in a temporary account and then add a transfer entry when the check is cashed to close it out. You might want to do this if you expect it might be a while before the member cashes the check.

It's up to you. It's also fine just to enter the expense directly in your brokerage account. Put a note in the description field to document that the amount was reimbursed with a specific check number. As long as you know the reason for any cash balance discrepancies when you reconcile your brokerage account account, you will be fine.

Laurie Frederiksen
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On Tue, Sep 30, 2014 at 1:40 PM, Leonard J Delmolino <> wrote:

We are planning to reimburse one of our club members by
writing a check against our brokerage account. What is the
proper way to do this in Bivio? Do we just enter it using
the Expense transaction against our brokerage account? Or is
it similar to a member withdrawal where we initially enter
it into a special Account using the Expense transaction
("Reimbursements" in this case) and balance back against
this account when the check is cashed.

Thanks in advance for your help!

Len Delmolino
Treasurer, Oak Point Investment Club
Middleboro, MA

Len Delmolino on

That's what I needed to know - thanks Laurie!

Len Delmolino

From: "Laurie Frederiksen" <laurie@bivio.biz>
To: "The Club Cafe" <club_cafe@bivio.com>
Sent: Tuesday, September 30, 2014 2:01:49 PM
Subject: Re: [club_cafe] Expense Reimbursement

Hi Len,

You could enter the expense in a temporary account and then add a transfer entry when the check is cashed to close it out. You might want to do this if you expect it might be a while before the member cashes the check.

Laurie Frederiksen
Invest with your friends!
www.bivio.com

Become our Facebook friend! www.facebook.com/bivio
Follow us on twitter! www.twitter.com/bivio
Follow Us on Google+

Click here to Subscribe to the Club Cafe email list. Click here to Unsubscribe

On Tue, Sep 30, 2014 at 1:40 PM, Leonard J Delmolino <> wrote:

We are planning to reimburse one of our club members by
writing a check against our brokerage account. What is the
proper way to do this in Bivio? Do we just enter it using
the Expense transaction against our brokerage account? Or is
it similar to a member withdrawal where we initially enter
it into a special Account using the Expense transaction
("Reimbursements" in this case) and balance back against
this account when the check is cashed.

Thanks in advance for your help!

Len Delmolino
Treasurer, Oak Point Investment Club
Middleboro, MA

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