Hello,
Our Club signed up for a Club BetterInvesting Membership. As
part of that process, two individual members also joined and
the membership dues were paid through the Club account at
the same time as the Club membership. THe individual
members paid for their own memberships and the cost was
different for each member depending on which membership
level they chose. The membership dues were listed as
'fees' since they did not contribute to the investment
money. Now they show up on the tax return as an expense that
is split evenly amongst all the members. Seems like it is
erroneous to list individual memberships as a club expense.
Only the Club membership should be listed.

I don't see any other way to enter the monies received other
than fees and members contribution.

Candice R Dunn wrote:
> Hello,
> Our Club signed up for a Club BetterInvesting Membership. As
> part of that process, two individual members also joined and
> the membership dues were paid through the Club account at
> the same time as the Club membership. THe individual
> members paid for their own memberships and the cost was
> different for each member depending on which membership
> level they chose. The membership dues were listed as
> 'fees' since they did not contribute to the investment
> money. Now they show up on the tax return as an expense that
> is split evenly amongst all the members. Seems like it is
> erroneous to list individual memberships as a club expense.
> Only the Club membership should be listed.
>
> I don't see any other way to enter the monies received other
> than fees and members contribution.

Even if I create an account for membership dues, when I
"transfer" the money to that account it still shows up as an
expense on my reports.

How do I make a payment that would not be considered a Club
expense?

Figured it out! Thank you! :)


Candice R Dunn wrote:
> Hello,
> Our Club signed up for a Club BetterInvesting Membership. As
> part of that process, two individual members also joined and
> the membership dues were paid through the Club account at
> the same time as the Club membership. THe individual
> members paid for their own memberships and the cost was
> different for each member depending on which membership
> level they chose. The membership dues were listed as
> 'fees' since they did not contribute to the investment
> money. Now they show up on the tax return as an expense that
> is split evenly amongst all the members. Seems like it is
> erroneous to list individual memberships as a club expense.
> Only the Club membership should be listed.
>
> I don't see any other way to enter the monies received other
> than fees and members contribution.

Hi Laurie

I set up the account as you said and transferred the money
from Member Payments to Checking Account.

My Balances are now off.

How do I record the initial receipt of money?

Candice


Laurie Frederiksen wrote:


> Dear Candice,Setting up a separate account is good.  That is what you need to do.    Let's say you call it Member PaymentsDelete the fee's you entered and the expenses associated with these transactions.
> Record the money your members gave you to pay their individual expenses as transfers FROM the Membership Payments account TO your checking account.Record the payment of the BI Dues for these individuals by entering a transfer FROM your checking account TO your Membership Payments account.
> Sorry it's complictaed but there is no easy way or reason to run expenses like this through your club financial accounts.In the future,  we'd recommend that you have each individual make out their payments directly to BetterInvesting and that you just put their checks in the same envelope that you mail in the club portion of the payment.  DON'T deposit any of their money into your club accounts.  They can keep track of this investment expense for their own records.
> The thing for you and everyone to remember is that your club accounting is designed to easily handle expenses that apply to ALL your club members.  There is no easy way or reason for your club to be dealing with expenses that are unique to any specific member.
> -- Laurie FrederiksenInvest with your friends!www.bivio.comBecome our Facebook friend!  www.facebook.com/bivio
> Follow us on twitter!  www.twitter.com/bivio

Hi Laurie, Thanks for your help. I found the missing money!
:)

I have a couple questions though:

1. I thought I found a solution when I found the entry for
non-deductible expenses. I am not an accountant, so maybe I
don't understand the use of this, but it seems that if the
individual membership dues where allocated here then they
would no be split amongst the general membership on the tax
form and would not show up on the tax form at all.

2. My 2nd question is regarding the "fee" entry for member
payments. Our club has an annual fee that is assessed to
every member that covers the basic expenses for the club.
Since we don't use the money for investment I enter the
payment of that as a "fee". Is this not the correct use of
this?

THanks, again for all your help. Everything looks good on
the Tax return now!



Laurie Frederiksen wrote:
> Dear Candice,That transfer entry is the one that records the initial receipt of money.It will be offset by you entering a transfer in the opposite direction to record the payment of the expense.There should be no net increase in the balance in your account and when you're done, the Member Payments account should have a 0 balance.
> If you'd like us to take a look at why you're having a problem,  feel free to email support@bivio.com and we can look at your records specifically.-- Laurie Frederiksen
> Invest with your friends!www.bivio.comBecome our Facebook friend!  www.facebook.com/bivioFollow us on twitter!  www.twitter.com/bivio

> 2. My 2nd question is regarding the "fee" entry for member
> payments. Our club has an annual fee that is assessed to
> every member that covers the basic expenses for the club.
> Since we don't use the money for investment I enter the
> payment of that as a "fee". Is this not the correct use of
> this?

http://biwiki.editme.com/ClubExpenses has a discussion of why that is
incorrect.

-Jim Thomas