Hi Pam.

What I meant was that Bivio does not finish processing the 2009 tax data for
about two weeks.

In other words, you cannot produce the 2009 tax returns until around January
15th 2010.

That's presents no problem at all.

Arthur Klages


-----Original Message-----
From: club_cafe@bivio.com [mailto:club_cafe@bivio.com] On Behalf Of Pam Cler
Sent: Wednesday, November 04, 2009 4:33 PM
To: club_cafe@bivio.com
Subject: club_cafe: Re: FW: club_cafe: Switching: Online Club Accounting to
bivio

Arthur,

Can you explain further what you mean by your statement
"after Bivio digests the previous year's data, which takes
about two weeks, I can run all of the reports in about an
hour or so." What is it that takes two weeks??

Pam
Arthur Klages wrote:
> Hi Pam..
>
> I am long-time treasurer (for 15 years ) and have used Bivio since it
came
> out.
>
> For $99/yr it simply cannot be beat and I recommend it highly.
>
> We previously used an accountant and using Bivio was a big saving.
>
> Now, after Bivio digests the previous year's data, which takes about two
> weeks, I can run all of the reports in about an hour or so.
> That's less than the travel time to the accountant.
>
> The only drawback is that Bivio cannot properly process a tax return on a
> security which reports returns other than a 1099.
> I am referring to LLC's which issue K-1's .These are usually oil and gas
> partnerships, such as Kinder Morgan Energy Partners, Magellan Midstream,
> etc.
>
> This could be done manually with Bivio but it gets complicated .
>
> Also, you should let Bivio do all of the work. You won't have do any
manual
> entries except to identify member's deposits and checks.
>
> Some brokerage houses commit errors on downloading but we use Schwab and
> never have and difficulty.
>
> Arthur Klages, Treasurer
> Senior Investment Club LLC
> Greensboro NC
>
> -----Original Message-----
> From: club_cafe@bivio.com [mailto:club_cafe@bivio.com] On Behalf Of Pam
Cler
> Sent: Wednesday, November 04, 2009 12:46 PM
> To: club_cafe@bivio.com
> Subject: club_cafe: Switching: Online Club Accounting to bivio
>
> Our club is considering switching to bivio from online club
> accounting. We are currently in a 3 month trial period and
> so far everything for me (as treasurer) has been seamless
> and the pros outweigh the cons. I'm also more than happy
> with support. After making a presentation to my club last
> evening a couple questions were presented in regard to
> downside issues with bivio. As you know, there is a long
> list of testimonials (implication being 'good') available on
> the website. But, I'm just wondering if any of you have had
> any negative experiences with bivio and whether everything
> was resolved to your satisfaction. Any feedback would be
> appreciated.
>
> Also, are there any clubs out there who might be in our
> geographical area currently using bivio? We'd definitely be
> interested in hearing from you.
>
> Pam Cler
> Making Money in the Market
> Savoy IL

That is very generous of you Arthur and we appreciate the support. Unfortunately,
we're not quite that speedy. It is not your data which we need to process we need to
finish programming the tax program which you will use to prepare your taxes. We need to
wait until final forms are released and approved by the government to finalize our job.

You also need to wait to prepare taxes till you can confirm your records against the 1099's you will
receive from your financial institutions. They have until February 15 to get them to you.

So, our advice is to plan an audit party for January and make sure your club records are all
correct. That way when 1099's and tax forms are ready in mid to late February, it will be a very
quick job for your club treasurer to prepare your club taxes and distribute K-1's to all the
members for them to use to file their own taxes.

If you want to start getting ready for tax season, you're all invited to attend our next webinar on
Dec. 13 and 14.
We'll be talking about club business you should make sure you finalize before the end of this
calendar year. We'll also
be talking about what you will need to do to get ready to prepare your 2009 taxes.

It's free and open to all. You can register at www.bivio.com/club_cafe


   Laurie Frederiksen
   bivio Inc.