club_cafe: Questions: do i need to do this?

iras1 on

In a message dated 8/16/2007 9:26:24 A.M. Eastern Daylight Time, etana_finkler@bivio.com writes:

I'm looking at the "don't do that" presentation on iclub
about CAO

in bivio, is this automatic or do I need to enter it, and if
so, where?:
DON'T
1. ...forget to enter your monthly valuations
The consequences
Your unit value won't change
Any new units purchased will be incorrect
Withdrawn members get paid the wrong amount
How to fix
Enter a valuation for every month for the life of the club

In bivio, you have to specify the valuation date whenever you make an entry that changes the number of valuation units. The valuation dates aren't saved in the same way they are in Club Accounting.

2....enter extra valuations

This isn't a problem since valuations aren't saved, however, the system used in bivio does create a separate pitfall. When you enter a transaction which changes the number of units, you are asked for a valuation date. You have to make sure that you enter the valuation date consistently in accordance with your Partnership Agreement. bivio will default to the transaction date. This will have the effect of entering extra valuations if, in fact, you should be using a different valuation date.

bivio and ICLUB have chosen different ways to get to the same endpoint. Neither is intrinsically better than the other, though individuals will certainly have their preferences.

3. ...forget to enter your Allocation?????Allocation of Income
and Expenses - used to be called DoE

bivio handles this differently than Club Accounting. You can generate a tax allocations report (similar to the Club Accounting Allocation of Income and Expense report), but the actual allocation within the software is done automatically.

Hope this helps. If you have further questions, keep asking.

Ira Smilovitz

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