club_cafe: Broker Statement and Bivio cash balance different

iras1 on

In a message dated 10/1/2007 5:17:01 P.M. Eastern Daylight Time, jhe2@bivio.com writes:

How is the best way to bring the brokers statement in
balance with the bivio balance? I have been told to go back
and get each broker statement and compare to each month of
the club history. I know that would be the preferable way.
But I am talking a small difference on a $180,000.00 balance
account and ten years of history. I simply want to make an
adjustment. How is the best way to do it?

If you aren't willing to actually find the error, you can adjust the balance using Administration>Tools>Adjust Opening Balances.

Ira Smilovitz

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Rip West on

If you aren't willing to actually find the error, you can adjust the balance using Administration>Tools>Adjust Opening Balances.
>>

Or, alternatively, you could record it as a non-taxable income or non-deductible expense item, as the case may be. This has the advantage of adjusting the cost basis of members' capital accounts.

Rip West
Saint Paul, MN

John H Ellison on

Rip,
Thanks, you given me the answer. I will consider a
non-taxable expense. I have been on Bivio for a year now and
the same amount of imbalance has shown up so I just want to
make the adjustment and then I will continue to assure
balances of account and stocks are reconciled monthly. This
difference was brought forward from NOCA and it could be
anyplace in five to ten years of history.
Jack

Rip West wrote:
> <<
> If you aren't willing to actually find the error, you can
> adjust the balance using Administration>Tools>Adjust Opening Balances.
>
> >>
>  
> Or, alternatively, you could record it as a non-taxable
> income or non-deductible expense item, as the case may be. This has the
> advantage of adjusting the cost basis of members' capital accounts.
>
> Rip West
> Saint Paul,
> MN

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