Is there a method to record a transfer of a member's
interest (rather than a withdrawal)?

In our case, a withdrawing member's interest was transferred
to new members because, at the time the member desired to
withdraw, the club's investments were largely illiquid and a
decision was made to admit new members who were willing to
pay the withdrawing member for his interest rather than
liquidate investments to pay the withdrawing member.

Kenneth, you can accomplish what you wish without calling it buying his
interest, etc. Simply accept new members who can start off with a large
purchase of units for themselves, or let existing members buy more units at
this time. Then withdraw your member with the cash thus provided. They
don't 'buy' his interest, they simply invest in the club at its current
value. He removes his interest when he withdraws. Don't try to transfer
anything from one person to another, not necessary, and it creates a can of
bookkeeping worms if you try.

Incidentally, on the other question regarding the loan to the club, which I
misread, couldn't that have been more easily handled as simply him buying
units into the club in a large amount? Then he could do partial withdrawals
later if he needed some of this advance payment back. You know my motto,
KISS. Best wishes, Gene Rooks, SCC

Great idea for recording the transfer and, of course, great
motto.

The reason for wanting a "real" liability account rather
than cobbling one together is that otherwise the balance
sheet is all screwed up (since the liability is contra to
club assets, recording it makes it appear as a negative cash
account). This is not so important for internal club
accounting purposes, but it will make using the tax
reporting form more cumbersome (as we will have to manually
change the balance sheet information).

Thanks again for your help.

===========================================

Gene Rooks wrote:
Kenneth, you can accomplish what you wish without calling it
buying his interest, etc. Simply accept new members who
can start off with a large purchase of units for themselves,
or let existing members buy more units at this time. Then
withdraw your member with the cash thus provided. They
don't 'buy' his interest, they simply invest in the club at
its current value. He removes his interest when he
withdraws. Don't try to transfer anything from one person
to another, not necessary, and it creates a can of
bookkeeping worms if you try.

Incidentally, on the other question regarding the loan to
the club, which I misread, couldn't that have been more
easily handled as simply him buying units into the club in a
large amount? Then he could do partial withdrawals later if
he needed some of this advance payment back. You know my
motto, KISS. Best wishes, Gene Rooks, SCC