What do people do about expenses and dues? Should we keep a
seperate spread sheet? We do not want the expenses and dues
used when figuring the valuation. I hope I'm explaining this
correctly!

To add to the below:
If you're posting this on Bivio's Club Cafe, you must be
using Bivio's software. So, why not follow Bivio's rules?

Further, just as club members/partners have proportionate
shares in the investments, they have equally proportionate
shares in the income and expenses. If you aren't currently
using "the expenses and dues " to figure the valuation, you
are not properly accounting for valuations. If you continue
to not account correctly, be sure that the club purchases an
officer's and director's liability insurance policy for the
complaint and concomittant liability that will inevitably be
rendered.

There's no need for a separate spreadsheet to record dues,
income, or expenses. That's why Bivio has the member fees
procedure separate from the club expenses procedure.

I suspect that, in view of what you ARE doing, you've never
taken "the tour" of how to use Bivio. I encourage you to do
so. If you're adamant in not changing, at least ask yourself
this question: Why are you 100% right, and 10,000 other
investment club members in Bivio 100% wrong? Both methods
cannot be right, so either you're right, and 10,000 people
are wrong (but the IRS agrees with them), or you're wrong,
while the IRS and 10,000 other people are right. Me, I'll
bet my money on the crowd.

Laurie Frederiksen wrote:
> Dear Jill,
>
>  
>
> To add to what Ira has said,  all member contributions to
> your club should be entered as member payments.    
>
>  
>
> Any cash which is is part of your club assets is available to
> use for investing or club expenses.    These should only be
> expenses that apply to all the members of the club.
>
>  
>
> While you have a club financial account,  any expenses
> which might pertain to only certain members of the club should be paid by them
> directly.  There is no advantage to running them through your club
> accounts and if you do,  accounting for the cash flow will make your
> treasurers job more complicated. 
>
>  
>
>          Laurie
> Frederiksen
>
>          bivio Inc.
>
>  
>
>  
>
>  
>
>
>
>
>
> From: club_cafe@bivio.com
> [mailto:club_cafe@bivio.com] On Behalf Of iras1
> Sent: Wednesday, April 15, 2009 2:39 PM
> To: The Club Cafe
> Subject: Re: club_cafe: Expenses & Dues
>
>
>
>
>
>  
>
>
>
> While
> you're explaining what you want to do clearly, you are just as clearly mistaken
> in your desire to do what you explain. The cost of operating the investment
> club is part of its valuation and must be a part of it if your members are to
> get the full tax benefits.
>
>
>
>
>
>  
>
>
>
>
>
> Ira
> Smilovitz
>
>
>
>
>
>  
>
>
>
>
>
>  
>
>
>
>
>
>  
>
>
>
>
>
> In a message dated 04/15/09 13:13:02 Eastern Daylight Time,
> jillt@bivio.com writes:
>
>
>
>
>
>
>
> What do people do about expenses and dues? Should we keep a
> seperate spread sheet? We do not want the expenses and dues
> used when figuring the valuation. I hope I'm explaining this
> correctly!
>
>
>
>
>
>
>
>  
>
>
>
>
>
>  
>
>
>
>
>
>
>
> Great
> deals on Dell's most popular laptops - Starting at $479

> There's no need for a separate spreadsheet to record dues,
> income, or expenses. That's why Bivio has the member fees
> procedure separate from the club expenses procedure.

Just to be clear, the "member fee" in bivio is NOT intended as a way to
collect money that will be used to pay expenses. With rare exceptions, all
money collected from members should be recorded as a "member payment". (The
exceptions are for circumstances where the intent is to single out one
member to be charged a penalty.)

-Jim Thomas

I appreciate the input, I am just taking over for the treasurer. He has done
it this way for 30 some odd years and I am trying to bring us into the 21st
century. Everything was done on spreadsheets and they were set in their
ways. I will take the tour again and be more observant. Again thank you all
for the input.

-----Original Message-----
From: club_cafe@bivio.com [mailto:club_cafe@bivio.com] On Behalf Of Thomas
Hardy
Sent: Wednesday, April 15, 2009 11:27 PM
To: club_cafe@bivio.com
Subject: club_cafe: RE: Expenses & Dues

To add to the below:
If you're posting this on Bivio's Club Cafe, you must be
using Bivio's software. So, why not follow Bivio's rules?

Further, just as club members/partners have proportionate
shares in the investments, they have equally proportionate
shares in the income and expenses. If you aren't currently
using "the expenses and dues " to figure the valuation, you
are not properly accounting for valuations. If you continue
to not account correctly, be sure that the club purchases an
officer's and director's liability insurance policy for the
complaint and concomittant liability that will inevitably be
rendered.

There's no need for a separate spreadsheet to record dues,
income, or expenses. That's why Bivio has the member fees
procedure separate from the club expenses procedure.

I suspect that, in view of what you ARE doing, you've never
taken "the tour" of how to use Bivio. I encourage you to do
so. If you're adamant in not changing, at least ask yourself
this question: Why are you 100% right, and 10,000 other
investment club members in Bivio 100% wrong? Both methods
cannot be right, so either you're right, and 10,000 people
are wrong (but the IRS agrees with them), or you're wrong,
while the IRS and 10,000 other people are right. Me, I'll
bet my money on the crowd.

Laurie Frederiksen wrote:
> Dear Jill,
>
>  
>
> To add to what Ira has said,  all member contributions to
> your club should be entered as member payments.    
>
>  
>
> Any cash which is is part of your club assets is available to
> use for investing or club expenses.    These should only be
> expenses that apply to all the members of the club.
>
>  
>
> While you have a club financial account,  any expenses
> which might pertain to only certain members of the club should be paid by
them
> directly.  There is no advantage to running them through your club
> accounts and if you do,  accounting for the cash flow will make your
> treasurers job more complicated. 
>
>  
>
>          Laurie
> Frederiksen
>
>          bivio Inc.
>
>  
>
>  
>
>  
>
>
>
>
>
> From: club_cafe@bivio.com
> [mailto:club_cafe@bivio.com] On Behalf Of iras1
> Sent: Wednesday, April 15, 2009 2:39 PM
> To: The Club Cafe
> Subject: Re: club_cafe: Expenses & Dues
>
>
>
>
>
>  
>
>
>
> While
> you're explaining what you want to do clearly, you are just as clearly
mistaken
> in your desire to do what you explain. The cost of operating the
investment
> club is part of its valuation and must be a part of it if your members are
to
> get the full tax benefits.
>
>
>
>
>
>  
>
>
>
>
>
> Ira
> Smilovitz
>
>
>
>
>
>  
>
>
>
>
>
>  
>
>
>
>
>
>  
>
>
>
>
>
> In a message dated 04/15/09 13:13:02 Eastern Daylight Time,
> jillt@bivio.com writes:
>
>
>
>
>
>
>
> What do people do about expenses and dues? Should we keep a
> seperate spread sheet? We do not want the expenses and dues
> used when figuring the valuation. I hope I'm explaining this
> correctly!
>
>
>
>
>
>
>
>  
>
>
>
>
>
>  
>
>
>
>
>
>
>
> Great
> deals on Dell's most popular laptops - Starting at $479

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