Fees
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Fees Hello All, My question is over the last three years I have entered "late" fees into Bivio per our Bylaws. There entered as fees. I am wanting to know if there is a report I can use to see the total fees collected, as we want to use them for paying Bivio subscriptions and misc expenses. I looked under all the normal reports and do not see an itemized list of fees anywhere. Almost as if this money does not exsist, there should be a couple hundred in there at least. Thank you in advance. Kevin The money paid in fees becomes part of the overall value of the club. It is not maintained in a separate account. The mechanics are that when a fee is paid, the fee is added to the total value of the club, increasing the unit value by the amount of the fee divided by the number of units outstanding. Each member gets his or her share of the fee based on the percentage of the club they own on that date.
When you think you are using the fee money to pay for expenses, you are actually paying for the expense from the total assets of the club, not a segregated pool of fee money. The total value of the club is reduced by the expense and the unit value is reduced by the amount of the expense divided by the number of units outstanding. Each member pays his or her share of the expense based on their respective ownership share of the club on the date the expense is paid. The exception is if your club chooses to allocate expenses equally. Then each member "sells" enough units to pay his/her share of the expense but the unit value remains unchanged.
Ira Smilovitz Join me at InvestEd 2011 In a message dated 02/25/11 17:36:25 Eastern Standard Time, kade4111@bivio.com writes:
How do I get off this list? Date: Fri, 25 Feb 2011 17:44:08 -0500 From: iras1@aol.com Subject: Re: club_cafe: Fees To: club_cafe@bivio.com The money paid in fees becomes part of the overall value of the club. It is not maintained in a separate account. The mechanics are that when a fee is paid, the fee is added to the total value of the club, increasing the unit value by the amount of the fee divided by the number of units outstanding. Each member gets his or her share of the fee based on the percentage of the club they own on that date.
When you think you are using the fee money to pay for expenses, you are actually paying for the expense from the total assets of the club, not a segregated pool of fee money. The total value of the club is reduced by the expense and the unit value is reduced by the amount of the expense divided by the number of units outstanding. Each member pays his or her share of the expense based on their respective ownership share of the club on the date the expense is paid. The exception is if your club chooses to allocate expenses equally. Then each member "sells" enough units to pay his/her share of the expense but the unit value remains unchanged.
Ira Smilovitz Join me at InvestEd 2011 In a message dated 02/25/11 17:36:25 Eastern Standard Time, kade4111@bivio.com writes:
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