We sometimes get questions in support asking what to do when amounts
for member payments or withdrawals have been entered twice in your
records. Usually this happens because you enter them manually (when
you receive checks or enter a withdrawal), and then when the checks
are deposited or cashed at your brokerage, AccountSync enters an
unidentified credit or debit.

AccountSync pulls in all the transactions that have occurred in your
brokerage account. It does not check to determine whether you've
already entered them manually. If you get into the situation where
something has been entered twice, it is perfectly fine for you to
delete any duplicate entries. It does not matter whether you delete
the ones you entered manually or delete the unidentified credit or
debit that AccountSync has entered.

To avoid duplicate entries we suggest this:

Member Payments
    If you collect payments at your meeting, send them to your broker
and then wait to finalize entries in bivio until the checks have been
received at the broker and you receive the AccountSync email telling
you there are deposits to identify. We'd even suggest you have your
members use electronic bill pay or send their checks directly to the
broker prior to your meeting date. That way, at your club meeting you
will know the deposits have been received and are accounted for and
you have the cash to invest.

Member Withdrawals
     When you record a member withdrawal, record it as being paid
from a temporary account (you can call it whatever you'd like, for
example, "Pending Withdrawals"). When the withdrawing member cashes
their check, you will receive an AccountSync message that you have an
unidentified debit in your brokerage account. Go into bivio and
Identify it as a transfer from your broker to the Pending Withdrawals
account. This removes the amount from your broker cash balance on the
date it actually is deducted and zeros out the Pending Withdrawals
temporary account.

Laurie Frederiksen
www.bivio.com