member withdrawl
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member withdrawl We had a member resign in Nov 2002, we accepted her resignation at the Dec 2002 meeting. Due to surgery the treasurer was unable to get the check to payout the member until 2003. In the meantime the tax forms have been completed. Will they have to be redone (if possible)? Should the withdrawl date acceptance be changed? What other problems will this cause? Charlotte Charlotte Lindner wrote:
> We had a member resign in Nov 2002, we accepted her > resignation at the Dec 2002 meeting. Due to surgery the > treasurer was unable to get the check to payout the member > until 2003. > In the meantime the tax forms have been completed. Will they > have to be redone (if possible)? Should the withdrawl date > acceptance be changed? What other problems will this cause? I would suggest that you record the withdrawal into the Suspense account on 12/31/02. When the check is cashed, record a transfer between the two accounts. This way you won't need to supply the member with a K-1 when you do the 2003 taxes. Paul Moeller bivio, Inc. |
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