I would change all the valuation dates for 2007 and 2008. It isn't a big deal. HOWEVER, before you do anything, make a backup of your data and print out copies of the 4 withdrawal reports. Hopefully, you won't need the backup, but it's good to have "in case". You'll need the withdrawal reports in a bit.

 

Then start at the beginning of 2007 and change the valuations one month at a time. When you get to the first withdrawal, delete it and reenter it. You will have to adjust the withdrawal fee (up or down, whether you had one originally or not) so that the net withdrawal remains the same as it was when you first entered it. Continue month by month and withdrawal by withdrawal until you get to the present.

 

Then rerun your taxes and you should be done and ready for your audit.

 

Ira Smilovitz

 

arghhh thanks Gene and Ira. Got it wrong for the past year.

So the Treasurer Carol and I are not going to go back to the
4 withdrawals of the past year, that would be horrendous
re-work...
.... but what should we do? We are about to be audited by
the club.

1. Change valuation dates for all of 2007 & 2008?
2. Change valuation dates for just 2008 and go forward with
our education?

I prefer the second, of course.
thanks, Etana

Gene Rooks wrote:
> Etana, you have the cart before the horse here.  You don't deposit payments,
> and then do a valuation at a later date to apply to them.  bivio is looking
> for a valuation date earlier than the date your payments were entered, not a
> later date.
>
> Your January payments should be valued according to what you said your PA
> calls for on the Friday before they were collected.   The valuation you did
> on Feb. 8th will be used for the payments you collect next week.
>
> Payments buy units at the value on the last valuation taken, not the next
> one.    Gene