club_cafe: Time Based vs. Snapshot
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club_cafe: Time Based vs. Snapshot In a message dated 10/22/2006 12:53:29 P.M. Eastern Standard Time,
tarascon@bivio.com writes:
We're converting from CA, so our club treasurer is I wouldn't necessarily assume that you've been using the Snapshot method in
CA. NCA2/CA3 both have snapshot and time-based allocation and both recommend
time-based allocation.
Ira Smilovitz Ok, I'll rephrase. We have in fact been using the Snapshot method. Are you implying that since we've already made that choice, we should stay with it? -- Otherwise your comment does not help answer my original question: what reason is there for preferring one to the other? Mike Carroll Oro Valley, AZ Mike,
<< Otherwise your comment does not help answer my original question: what reason is there for preferring one to the other? >> Fairer, more in keeping with Irs requirements, no reason
for using the snapshop method now that we have computers doesn't do it for
you?
<<
There really is no reason to choose the snapshop method.
Time-based is fairer to members coming in and out during the year [actually
fairer for everyone whose monthly contributions vary], and is more in keeping
with IRS requirements.
The snapshot method is left over from the days before
computers when it was much easier for treasurers to allocate, just once, on the
basis of ownership at the end of the year.
>> Rip West Saint Paul, MN ----- Original Message ----- From: MICHAEL CARROLL To: club_cafe@bivio.com Sent: Sunday, October 22, 2006 5:57 PM Subject: club_cafe: Re: Time Based vs. Snapshot Ok, I'll rephrase. We have in fact been using the Snapshot method. Are you implying that since we've already made that choice, we should stay with it? -- Mike Carroll Oro Valley, AZ Rip, Ok, put it that way, we'll go with Time Based. Mike |
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