Adding New Members
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Adding New Members Our club's bylaws have consitently said that all members will have an equal share in the club, and to-date we have kept that philosophy. We added three new members (July 25), and in an effort to keep their shares and investment in line with the remaining members of the club, we took a Valuation and printed a Member Status report which showed each member's share to be valued at $6,358.50 for 632.248698 shares. For each of the three new members, we deposited $6,358.50, for a total of $19,075.50. When I input them into the system, their Investment and Shares do not equal the other members - it actually shows less. Is there a way to get the new members in sync with the old ones? William, you would have to enter their deposits as of the same date used for the valuation statement. Lucky you to find not one, but three, new members who could and would put up that much money to buy into the club. It is not really necessary to have all members equal. The software is designed to take care of members entering the club at different times, and with different amounts of contributions and percent of membership. You can still let all members have an equal vote in the club. Gene Rooks, SWIM, Orlando |
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