Hi:
Does it matter if purchases by members made in 2018 have a
valuation date in 2017 are entered before the books are
closed on 2017?
Thanks,
Scott
Laurie Frederiksen on
You do not want to determine any withdrawal payout amounts or enter any withdrawals until you have verified that your records are accurate and up to date through the withdrawal valuation and transaction dates.
Laurie Frederiksen Invest with your friends! www.bivio.com
Hi:
Does it matter if purchases by members made in 2018 have a
valuation date in 2017 are entered before the books are
closed on 2017?
Thanks,
Scott
Scott Freeman on
Good information. Sounds very different than member payments. I guess partner will have to wait until the books are closed on 2017.
scott
On Fri, Jan 5, 2018 at 12:35 PM, Laurie Frederiksen <laurie@bivio.biz> wrote:
You do not want to determine any withdrawal payout amounts or enter any withdrawals until you have verified that your records are accurate and up to date through the withdrawal valuation and transaction dates.
Laurie Frederiksen Invest with your friends! www.bivio.com
Hi:
Does it matter if purchases by members made in 2018 have a
valuation date in 2017 are entered before the books are
closed on 2017?
Thanks,
Scott
Laurie Frederiksen on
It is different because you can't undo an incorrect withdrawal payout so you don't want to make them until you are sure everything is verified.
You also wouldn't want to do taxes until you had everything verified.
The best way to do this is to do the annual audit we recommend. We'll be doing a presentation on how it is done on Saturday January 13. You can register for the webinar here:
Good information. Sounds very different than member payments. I guess partner will have to wait until the books are closed on 2017.
scott
On Fri, Jan 5, 2018 at 12:35 PM, Laurie Frederiksen <laurie@bivio.biz> wrote:
You do not want to determine any withdrawal payout amounts or enter any withdrawals until you have verified that your records are accurate and up to date through the withdrawal valuation and transaction dates.
Laurie Frederiksen Invest with your friends! www.bivio.com
Hi:
Does it matter if purchases by members made in 2018 have a
valuation date in 2017 are entered before the books are
closed on 2017?
Thanks,
Scott
Peter Dunkelberger on
Scott--It seem that you have a couple of things going on and the terminology you are using is confusing. When you say "member payments" do you mean payments to the club or do you mean payments to a resigning member?
Either way, your payment date (or deposit date, whichever the case) should be when the payment/deposit is made, not as of a valuation date. This keeps your cash balances accurate and makes it much easier to reconcile the bank account.
Good information. Sounds very different than member payments. I guess partner will have to wait until the books are closed on 2017.
scott
On Fri, Jan 5, 2018 at 12:35 PM, Laurie Frederiksen <laurie@bivio.biz> wrote:
You do not want to determine any withdrawal payout amounts or enter any withdrawals until you have verified that your records are accurate and up to date through the withdrawal valuation and transaction dates.
Laurie Frederiksen Invest with your friends! www.bivio.com