We have 9 members in our club, and split the $99 Bivio
subscription (11 $/ea). I paid for it personally, then took
up a collection of 11$/person at the last meeting. When I
entered a $99 expense, Bivio subtracted $99 from our cash. I
remember doing this last year, and somehow, I was able to
enter it without affecting the cash balance, but was still
able to get the tax benefit of the expense. Does anyone know
how to do this?

Thanks,
Heath

Dear Heath,

You may have used a method where you were reimbursed for paying the expense with units. In that
case, no actual cash is exchanged.

To do this, you would record the expense as having been paid from a separate "suspense" account in
bivio. This removes the amount from your club assets and allocates the expense to your members but
doesn't affect the cash balance in your brokerage account. Then you would record a payment into
that same suspense account for yourself. It would be for the amount you were being reimbursed.
Instead of receiving cash, you are receiving additional units.

   Laurie Frederiksen
   bivio Inc.

Heath,

For clarification, did you deposit the reimbursement you received from your members?

       Laurie

Hi Heath,

Rip and I were coming at your issue with two different interpretations of what you were up against.
It is best if you use his suggestion to record the contributions of your members as member payments
for each person. Make sure you do not record them as "fees".

In general however, it is important for all clubs to recognize that if you have enough cash in your
club accounts to cover an expense, it is not necessary to collect a special assessment to cover it.
If you do, make sure to record the money you collect as member payments so that each person gets
the proper credit for their contribution.

If anyone is interested in learning more about Investment Club Expenses, we are running two
webinars next week where we will be discussing that topic. One will be on Sunday August 23 at
7:30PM EDT and the other will be on Wednesday Aug 26 at 1PM EDT.

You can register to attend at www.bivio.com/club_cafe

They're free and we'd love to have you join us. Rip, myself, Dave Swierenga, Candace Baker and Jim
Thomas will be available on one or both of the days and we'd be glad to answer your questions in
person.

                  Laurie Frederiksen
                  bivio Inc.

Laurie Frederiksen wrote:
> Heath,
>
> For clarification, did you deposit the reimbursement you received from your members?
>
> Laurie

Laurie,

No, I took a cash/check collection at the meeting for
myself. I still have it in an envelope, and haven't
deposited it yet. In other words, it is still reversible.

Thanks,
Heath

Laurie Frederiksen wrote:
> Hi Heath,
>
> Rip and I were coming at your issue with two different interpretations of what you were up against.
> It is best if you use his suggestion to record the contributions of your members as member payments
> for each person. Make sure you do not record them as "fees".
>
> In general however, it is important for all clubs to recognize that if you have enough cash in your
> club accounts to cover an expense, it is not necessary to collect a special assessment to cover it.
> If you do, make sure to record the money you collect as member payments so that each person gets
> the proper credit for their contribution.
>
> If anyone is interested in learning more about Investment Club Expenses, we are running two
> webinars next week where we will be discussing that topic. One will be on Sunday August 23 at
> 7:30PM EDT and the other will be on Wednesday Aug 26 at 1PM EDT.
>
> You can register to attend at www.bivio.com/club_cafe
>
> They're free and we'd love to have you join us. Rip, myself, Dave Swierenga, Candace Baker and Jim
> Thomas will be available on one or both of the days and we'd be glad to answer your questions in
> person.
>
> Laurie Frederiksen
> bivio Inc.
Laurie/Rip,

Thanks for all of the attention. I feel guilty that I
haven't been on the cafe for a week to respond.
Here is what I did; I entered an "expense" of (99), and for
each member, I entered a fee of 11. You said not to enter it
as a fee. How should I edit to correct my error?

I do plan to register for Sundays webinar, I just need to
check my schedule first.

Thanks again,
Heath Neely

Hi Heath,

Enter it as member payments rather than fees.

Hope to see you Sunday!

   Laurie