Our club uses account sync, I seem to have trouble most
months when we by stock.
We add funds to our Broker account with an ACH deduction
from the treasurer's account. (we do not use a seperate bank
account for the club)
I recorded the payments for the members as to the brokers
account.
We bought stock the same day, using the money deposited in
broker account, and the stock holdings increased. But the
cash with the broker was not reduced.
I can normally find a way to get the payment entered
correctly, but am not sure what to do now. If I enter the
purchases manually, it may incorrectly increase our
holdings.
If I delete the purchases shown for the last date and enter
them again manually will this correct my problem.

Joe Chambers writes:
> Our club uses account sync, I seem to have trouble most
> months when we by stock.
> We add funds to our Broker account with an ACH deduction
> from the treasurer's account. (we do not use a seperate bank
> account for the club)
> I recorded the payments for the members as to the brokers
> account.
> We bought stock the same day, using the money deposited in
> broker account, and the stock holdings increased. But the
> cash with the broker was not reduced.
> I can normally find a way to get the payment entered
> correctly, but am not sure what to do now. If I enter the
> purchases manually, it may incorrectly increase our
> holdings.
> If I delete the purchases shown for the last date and enter
> them again manually will this correct my problem.

Although the club doesn't have a separate account, it is using a
separate account. You need to treat the treasurer's account
separately. Create a new account called "Treasurer's Bank" or
something like that. When you make member payments, you put them in
"Treasurer's Bank" using the payment form. The ACH transfer will show
up with AccountSync, and your books should always be in balance.

If you can send the members checks directly to the broker, you should
do so. This is what we recommend, because it simplifies your work as
treasurer. It also allows you to use our Penny Payment system, which
is a trick to save you work identifying member payments. You assign
each member a different "cents" amount. When they make deposits, they
pay their normal amount plus the "cents" amount. We'll see a deposit
for, say, $50.12, and we'd know it was from the member who was
assigned the 12 cents. Another member might deposit $50.20 and so on.
Many clubs are using this method and find it a very effective way of
tracking member payments. For the system to work perfectly, it is
important for the members to pay the same cents amount regardless of
the dollar amount, e.g. missed payments should be $100.12 for the
member assigned 12 cents.

If you need more specific help, please contact support@bivio.com. You
might also want to take a look at our Getting Started Guide:

http://www.bivio.com/f/bivio-guide.pdf

The Guide has screen snapshots that explains how AccountSync works,
including the penny payment system.

Rob