The bivio method is "better" in that it is less confusing. If a club had a loss for the year, you would take units away. Under certain extreme conditions you could get very weird results. Both of ICLUBs software products now allow you to choose to NOT distribute units at year end.

 

Ira Smilovitz

 

Ira,

I see it thanks.  One addtional question/observation.  Under
our old "club accounting", it would distrbute the
gains/losses in units and alter the unit value as well as
altering the tax basis.  Bivio doesn,t seem to alter the
units or value. Do you see any imact of this difference?


IraS1@aol.com wrote:
> It happens on 12/31. Compare the tax basis for each member on 12/30 with
> that on 12/31.
>  
> Ira Smilovitz
>  
>
> In a message dated 02/07/08 1:11:58 P.M. Eastern Standard Time,
> g_cudd@bivio.com writes:
> At what
>   point in the end of year processing does the tax
> allocation actually post
>   to the members individual account.
> tax basis get altered.  When I look
>   at the tax basis on
> 12/31/07 and then in January, it is the same.  Do
>   I need to
> exercise some function to post the gains/losses to
>   the
> individual?
>
> Geoff
> Cudd
>
>
>
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