Dear Linda Wiltse/All:

I am joining this thread late, but our Club has 25 members and about $450,000 in assets and has been in existence for more than 60 years without a break of any kind. The Old Guys ( like me!) believe that we have never missed a monthly meeting - could be true!  As Treasurer, I have used Bivio for some 8 years.

I prepare our annual tax return, after we have our Audit Party, in a very few minutes. Unless there are foreign tax issues or some unusual distribution, our tax return takes less than five minutes to prepare.

Bivio's tax program most certainly does account for different deposits/withdrawals by different members at different times. You must, of course, select the time-based option in the tax program set-up.

The K-1's are prepared automatically for each member - there is no manual input of data required, with the possible exception of correcting a name spelling, SSN or street address. Even those are one-time events.

There are no issues with rounding errors. None.

I do file a paper return, but it is fairly simple and easy and consists of about 30 pages ( there are 25 K-1's as part of that count of 30 pages).

I am not a CPA or any kind of Accountant, but it does seem as you are creating a huge amount of unnecessary and, perhaps, error-prone, tax work that is simlply not required.

Hope this helps.

Best regards,

Leo Cardillo

Treasurer, 711 Investment Club

---------------------------------------------------------------------------------------------------------