Why Me?!
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Why Me?! Bivio says, "The brokerage cash balance differs from the bivio balance by $ 1,043.05. This may indicate a missing or erroneous transaction in your bivio account. Please review your brokerage statement to identify the source of the discrepancy." Does bivio miss transactions frequently and how can I prevent from having to go back over every transaction in the future? I am getting ready to work on the K-1 stuff and I assume I need this corrected prior to doing that. Any advice is appreciated! Thanks! Johnny Johnny.. I I've been treasurer of 2 clubs using Bivio for at least 15 years (total) and Bivio rarely makes any errors. We use Schwab for brokerage. The Schwab account handles both our brokerage and checking accounts. What you should do is each month check your Bivio account balance against your brokerage acct balance on the monthly broker's statement. You can quickly locate any errors if you do this faithfully each month. During a one month period there shouldn't be too many transaction to check. Also, I have found that the best thing to do with Bivio is nothing. In other words, do not make any manual transactions unless absolutely necessary.all of ...let Bivio download the transactions from the broker. If further information has to be entered on a particular transaction, do it manually after Bivio had downloaded them .I found that most errors are made at my end. For $99 per year Bivio is unbeatable. Arthur Klages, Treasurer Senior Investment Club Greensboro NC -----Original Message----- From: club_cafe@bivio.com [mailto:club_cafe@bivio.com] On Behalf Of Johnny Sent: Monday, February 16, 2009 2:46 PM To: club_cafe@bivio.com Subject: club_cafe: Why Me?! Bivio says, "The brokerage cash balance differs from the bivio balance by $ 1,043.05. This may indicate a missing or erroneous transaction in your bivio account. Please review your brokerage statement to identify the source of the discrepancy." Does bivio miss transactions frequently and how can I prevent from having to go back over every transaction in the future? I am getting ready to work on the K-1 stuff and I assume I need this corrected prior to doing that. Any advice is appreciated! Thanks! Johnny Johnny,
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Does bivio miss transactions frequently and how can I prevent from having
to go back over every transaction in the future?
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I have no idea if missed transactions occur frequently. I suspect not, but
I don't know of anyone who would recommend that you not reconcile your statement
against bivio monthly. In other words, you SHOULD go back over every
transaction in the future.
Rip West Saint Paul, MN I second Arthur. People think that AccountSync will save them the task of auditing their books. It doesn't. Tax time is a terrible time to have to go back and find errors. I recommend that you grab all of your broker statements, pull up your "broker" under Accounts, and simply check off each and every entry from the beginning of the year. If yours is like most clubs, there aren't that many transactions. You will probably find the error quickly. Then, do it monthly.
Lynn Ostrem
Crow River Investment Club
Sorry...a few typos on the original Arthur Klages -----Original Message----- From: club_cafe@bivio.com [mailto:club_cafe@bivio.com] On Behalf Of Arthur Klages Sent: Monday, February 16, 2009 3:46 PM To: 'The Club Cafe' Subject: RE: club_cafe: Why Me?! Johnny.. I I've been treasurer of 2 clubs using Bivio for at least 15 years (total) and Bivio rarely makes any errors. We use Schwab for brokerage. The Schwab account handles both our brokerage and checking accounts. What you should do is each month check your Bivio account balance against your brokerage acct balance on the monthly broker's statement. You can quickly locate any errors if you do this faithfully each month. During a one month period there shouldn't be too many transaction to check. Also, I have found that the best thing to do with Bivio is nothing. In other words, do not make any manual transactions unless absolutely necessary. ...let Bivio download the transactions from the broker. If further information has to be entered on a particular transaction, do it manually after Bivio had downloaded them .I found that most errors are made at my end. For $99 per year Bivio is unbeatable. Arthur Klages, Treasurer Senior Investment Club Greensboro NC -----Original Message----- From: club_cafe@bivio.com [mailto:club_cafe@bivio.com] On Behalf Of Johnny Sent: Monday, February 16, 2009 2:46 PM To: club_cafe@bivio.com Subject: club_cafe: Why Me?! Bivio says, "The brokerage cash balance differs from the bivio balance by $ 1,043.05. This may indicate a missing or erroneous transaction in your bivio account. Please review your brokerage statement to identify the source of the discrepancy." Does bivio miss transactions frequently and how can I prevent from having to go back over every transaction in the future? I am getting ready to work on the K-1 stuff and I assume I need this corrected prior to doing that. Any advice is appreciated! Thanks! Johnny |
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