I understand the concept that each member has a number
attached to their dues - member1 pays $dd.01, member 6 pays
$dd.06.

Two questions about how this works in practice.

1. does each member have to link their personal checking
account to buyandhold or other broker, then use the deposit
feature to deposit their $dd.nn?

2. does bivio have a method to automatically link a person
with a transaction deposit in this format?

We are current using my checkbook - the treasurer - for all
accounts, and I know that is a bad policy, but we've done it
for our 4 years. I only deposit and transfer the checks,
but occasionally use the float :)

- bettyd

Elizabeth Darling writes:
> I understand the concept that each member has a number
> attached to their dues - member1 pays $dd.01, member 6 pays
> $dd.06.

You got it!

> Two questions about how this works in practice.
>
> 1. does each member have to link their personal checking
> account to buyandhold or other broker, then use the deposit
> feature to deposit their $dd.nn?

No. However, we recommend you send the checks directly to BUYandHOLD
or whichever broker you use. You can fill out one deposit slip, and
mail it directly to your broker.

> 2. does bivio have a method to automatically link a person
> with a transaction deposit in this format?

bivio memorizes your member transactions automatically. After the
first time, it will figure out who paid what and all you have to do is
click OK. If you do it in alphabetical order by last name, bivio will
get it right the first time!

> We are current using my checkbook - the treasurer - for all
> accounts, and I know that is a bad policy, but we've done it
> for our 4 years. I only deposit and transfer the checks,
> but occasionally use the float :)

This is not illegal, but I would save yourself some work and send the
checks directly to the broker. All of the AccountSync brokers accept
multiple checks if they are made out correctly. Contact your broker
to be sure you get your details right.

Rob

Rob Nagler wrote:

A lot of good responses!

I was not aware that the clubs mailed the checks monthly to
the broker. I assumed each member transfered money
electronically, and I thought that would give too many hands
access to the brokerage account. Currently only my checking
account has access. Members write checks to me, I deposit
in my checking account, then log onto the brokerage account
to electronically transfer. As I said, I don't like this,
so that's why I am looking for a different method. Now I get
it.

Thanks for the help!