Expenses
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Expenses Hello - Each year our club collects $25 per member to cover administrative expenses of the club. I am wondering how to best report that in Bivio. The money is usually just put into our savings account and then transferred into our checking account to be used for expenses as needed. It never ends up in our brokerage account. If I go into Bivio and just input the expense it throws our account balance off. Any ideas on how to best handle this? I would like to give our members the tax deduction from the expense but I am unsure how to report it. Thank you, Andy Hi Andy,
I have some unanswered questions about your post. Is your savings account
set up as a bivio account? If so, record the $25/member as payments going to the
savings account. When you transfer the money into your checking account, record
the transfer in bivio. When you pay the expenses, designate the checking account
as the source of the expenditure. This should keep your accounts in balance and
give your members the tax deduction.
I was unable to find your club from your email address. If this message
does not answer your question, please send a message to support@bivio.com
Rip West Saint Paul, MN To Whom: I receive E-mails like this all of the time. Most of the time I am not related or interested in the content. Can you determine why I receive these, figure out why they are sent to all of the receipents, and teach a class as to how to use the system. That way those of us who receive these may not get so many unrelated E-mails. L. Robert Medlyn
Hi Andy,
I have some unanswered questions about your post. Is your savings account set up as a bivio account? If so, record the $25/member as payments going to the savings account. When you transfer the money into your checking account, record the transfer in bivio. When you pay the expenses, designate the checking account as the source of the expenditure. This should keep your accounts in balance and give your members the tax deduction.
I was unable to find your club from your email address. If this message does not answer your question, please send a message to support@bivio.com
Rip West Saint Paul, MN To Whom Here's another unrelated E-mail.
L. Robert Medlyn
Dear Bob, You get these emails because you joined the Club Cafe Email List. Members of that list receive all emails that are sent to the list. This allows people to have discussions and everyone to learn from each other. If you do not want to participate, you can remove your email from this list by logging into bivio and going to this link: https://www.bivio.com/club_cafe/leave-club-cafe You can also follow what is going on on our page on Facebook or by following us on Twitter. -- Laurie Frederiksen Invest with your friends! www.bivio.com Become our Facebook friend! www.facebook.com/bivio Follow us on twitter! www.twitter.com/bivio |
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