2 Quick and Simple Things

Laurie Frederiksen on

As you can imagine, we get a lot of questions this time of year as clubs prepare for tax preparation. That is good. We are glad people are working to correct their records so they won't file incorrect taxes.

But there are sometimes issues that are discovered that mean a club has filed incorrect taxes (and paid incorrect withdrawals) for several years. Those are big problems. They affect everyone in the club and they aren't easy to fix.

Many, many, many times, these things would not have grown into such big problems if a club had done only two things every month:

1. Make sure the cash balance in bivio agrees with the cash balances for the month shown on brokerage and bank statements.

2. Make sure the number of shares of each stock shown in bivio agrees with the number of shares shown on the brokerage statement.

Those two checks won't bring out every problem, but they will bring out a high percentage of the ones we end up helping clubs address.

Every member of your club should be concerned that the answers to those two questions is yes every month.

The checks only take a minute to do. If the answers are not yes and you don't know how to fix the problem, bring it up to us at support@bivio.com We're here to help and we are much happier to help you sooner than give you bad news later.

Problems don't go away, they just compound. Better to catch them quickly and when they are small. There are no dumb questions and we're very friendly.

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
Follow Us on Google+

Click here to Subscribe to the Club Cafe email list. Click here to Unsubscribe

Dorothy E. Meunier on

This last month Cognizant had a stock split. Our broker,
Scottrade, has recorded the doubling of our shares, but
Bivio doesn't seem to know yet. Could you look into it for
us?

Thanks,
Dorothy Meunier
Women Taking Stock Investment Club of Arizona

Laurie Frederiksen on

Hi Dorothy,

Good for you for keeping on top of the number of shares in your account.

Scottrade does not do a good job of sending through split information in the data file read by AccountSync.

The split is easy to enter using the "Split" button you'll find on the Accounting>Investments page.

Or, if you'd like us to do it, feel free to email support@bivio.com and we'll get it entered for you.

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
Follow Us on Google+

Click here to Subscribe to the Club Cafe email list. Click here to Unsubscribe

On Wed, Mar 19, 2014 at 3:22 PM, Dorothy E. Meunier wrote:

This last month Cognizant had a stock split. Our broker,
Scottrade, has recorded the doubling of our shares, but
Bivio doesn't seem to know yet. Could you look into it for
us?

Thanks,
Dorothy Meunier
Women Taking Stock Investment Club of Arizona

Ruthy Sellers on

I have been trying to correct the number of shares in BIVIO for WAL-MART (WMT). We closed the year 2013 with 28.804 shares as shown by Broker. We received a $13.54 dividend on 1/2/14, reinvesting and purchasing 0.172 shares. BIVIO shows total shares as 28.9970 and Fidelity shows 28.976. I have not been able to correct. Please help.

Let's get out of the house!
Sis Sellers

From: Laurie Frederiksen <laurie@bivio.biz>
To: The Club Cafe <club_cafe@bivio.com>
Sent: Wednesday, March 19, 2014 2:30 PM
Subject: Re: [club_cafe] Re: 2 Quick and Simple Things

Hi Dorothy,

Good for you for keeping on top of the number of shares in your account.

Scottrade does not do a good job of sending through split information in the data file read by AccountSync.

The split is easy to enter using the "Split" button you'll find on the Accounting>Investments page.

Or, if you'd like us to do it, feel free to email support@bivio.com and we'll get it entered for you.

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
Follow Us on Google+

Click here to Subscribe to the Club Cafe email list. Click here to Unsubscribe

On Wed, Mar 19, 2014 at 3:22 PM, Dorothy E. Meunier wrote:

This last month Cognizant had a stock split. Our broker,
Scottrade, has recorded the doubling of our shares, but
Bivio doesn't seem to know yet. Could you look into it for
us?

Thanks,
Dorothy Meunier
Women Taking Stock Investment Club of Arizona

Laurie Frederiksen on

If you are going to do dividend reinvesting you are going to have to be meticulous about keeping on top of your records. You may have many, many tiny lots of shares, each of which needs to have been entered correctly to keep your share count correct in bivio.

If you find a share count discrepancy between bivio and your broker, these are the steps you need to take to find and correct it:

Correcting Share Counts

If you check your number of shares each month, you'll only have a months worth of transactions to review if the count becomes off. If you have let it go for a long time, you have a lot of past records you'll have to spend time going through to find the problem.

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
Follow Us on Google+

Click here to Subscribe to the Club Cafe email list. Click here to Unsubscribe

On Wed, Mar 19, 2014 at 4:49 PM, Ruthy Sellers wrote:

I have been trying to correct the number of shares in BIVIO for WAL-MART (WMT). We closed the year 2013 with 28.804 shares as shown by Broker. We received a $13.54 dividend on 1/2/14, reinvesting and purchasing 0.172 shares. BIVIO shows total shares as 28.9970 and Fidelity shows 28.976. I have not been able to correct. Please help.

Let's get out of the house!
Sis Sellers