Clubs using accountsync to post broker transactions have been notified if corrections need to be made to their entries. Clubs whose brokers are not on the accountsync list will have to make these entries themselves. The following paragraphs tell you how to do this.

 

First, enter the spin-off. Go to Accounting|Investments and select MSI [used to be MOT]. Click on the orange icon for Spinoff. Enter the data on this page. For the Spin-off Ticker, enter MMI. Enter 1/4/2011 for the transaction date. Divide the number of MSI shares held on 12/21/2010 by 8 and use that number for the number of shares. Be sure to include the fractional part of your computation in this box. Enter 57.75 in the Remaining Basis box. [Note, do NOT enter .5775]  Enter any cash received in lieu of fractional shares in the Cash Received box.  Enter your broker account, and any explanation and click on OK.

 

Now, it is time to enter the reverse stock split of MSI. Be sure that you have entered the spin-off, above, prior to doing this. As an added precaution, I suggest that you use a date of 1/5/2011 for the date of this split, just to make sure that it is considered after the spin-off. To make the entry, click on the orange icon for Split. As discussed, above, enter 1/5/2011 for the date. Enter 1 and 7 in the Split Ratio boxes. Enter any cash received in lieu of fractional shares in the Cash Received box. Enter the broker account and any remarks, and click on OK.

 

That should take care of it. Again, clubs whose transactions are updated by accountsync should not have to do the above. If you experience any trouble, send an email to support@bivio.com. In the email be sure to tell us how much cash you received in lieu of fractional shares of MSI and MMI, and tell us how many shares of each of those, your broker is now showing.

 

Rip West
bivio.com