I had a member withdraw this year. His account on the valuation date was worth 21276.57. We charge a 3% fee to withdraw and the software calculated the fee to be 658.04. But 658.04 is not 3% of 21276.57. What could have gone wrong?

Several things that I can think of. You may have entered a transaction after you calculated the withdrawal that actually took place before the valuation date of the withdrawal. This would have affected the calculation. You may have entered the wrong dates when you entered the withdrawal. Did you check that the valuation date of the withdrawal is the date you intended to use? If you review the valuation report in conjunction with the valuation and member status reports for the correct dates, things should become obvious.

 

If not, I would suggest contacting support@bivio.com.

 

Ira Smilovitz