Introduction to AccountSync™

AccountSync is a popular bivio feature that helps you keep your investment club records accurate and up to date easily and efficiently. AccountSync is an electronic link between your investment club brokerage account and bivio. Any transactions in your brokerage account are automatically and securely transmitted and entered in bivio. This includes member deposits, stock purchases and sales, interest, stock splits, mergers, dividends, spin-offs and more.

AccountSync automatic updates are made early in the morning of the day following each day the market is open (for example, Monday transactions will be picked up early Tuesday morning). If transactions have been entered into bivio by AccountSync you will receive an email letting you know what entries were made. AccountSync reads in transactions that have happened since it's last update. It is not a true synchronization of your accounts and it will not go back and change any past entries.

AccountSync works with a variety of brokerages. You can see the current list here: AccountSync Brokers

If you use AccountSync, your treasurers job is significantly easier. All you need to do is identify any deposits or withdrawals that AccountSync is unable to and double check once a month that the information entered agrees with the brokerage statement. AccountSync is very good but it is still one computer talking to another. Sometimes the data in the file it reads has been provided in a non standard or confusing way. It's important to double check once a month that your bivio records agree with your brokerage statement and make any corrections needed to your bivio data. If you have a question about an entry or how to make a correction, we are glad to help you with it. Just email us at support@bivio.com You will find that the reconciling process goes extremely quickly. 99.9% of the time AccountSync has entered everything fine including any complicated reorganization transactions.

AccountSync reads the pricing recorded for specific transactions such as stock purchases from your broker, but it does not get daily pricing data from them. Daily pricing is updated for all bivio clubs using a separate pricing data feed. This may sometimes mean that the market values you see in bivio differ from your brokerage by a penny or two. This is fine and does not affect the accuracy of your club accounting. If the cash balance and the number of shares of each stock you own agree exactly with your brokerage statement, your club records are in good shape.

If your club is not using AccountSync, we highly recommend it. You will find many happy clubs that are very glad they use it. It simplifies your club record keeping and helps you streamline your club operations so you can spend your time doing the fun stuff like choosing investments!