Sent via the Samsung GALAXY S(R)4, an AT&T 4G LTE smartphone
-------- Original message --------
From: Laurie Frederiksen
Date:10/08/2014 2:10 PM (GMT-05:00)
To: The Club Cafe
Subject: [club_cafe] Saving Monthly Statements
Do any of your investment clubs have this issue?
I am used to getting paper copies of brokerage statements and keeping them in a filing cabinet. I keep forgetting that in todays world of electronic statements rather than paper ones, it's probably still a good idea to keep the electronic copies filed somewhere.
It's a good practice for several reasons:
They're available for other members of your investment club to be able to review them
They're needed when audit time comes around
Brokers may not store them for long periods of time for you
They are important if you ever have issues with cost basis amounts shown for any of your stocks. If you've made mistakes in your entries during the time you've held a stock, you may need to use your old statements to track down and fix the problem.
How do the rest of you handle this? Are you diligent about downloading statements when they come out and then saving them in the bivio files area? That does make a nice central location where everyone can access them. It also keeps them in one place so future treasurers can get to the information if they need it.
This seems like it might make a good monthly job for someone who is designated as an assistant investment club treasurer. Any thoughts?
Laurie Frederiksen Invest with your friends! www.bivio.com
Since we are an online club we keep everything online in Bivio so that every member can see all documents. Our emails are considered as our minutes of the meeting. When we do our face-to-face meetings (2x a year) we type up a summary of the meeting and place it into Bivio.
John
On Wednesday, October 8, 2014 1:09 PM, Laurie Frederiksen <laurie@bivio.biz> wrote:
You would download it from your broker and then upload it into the bivio files area.
Laurie Frederiksen Invest with your friends! www.bivio.com
There arer two possibilities. If you receive the statement electronically as a PDF, the export it to the club's subdirectory and then upload it into bivio files and you would any other document. Make sure the name is informative and consider creating a subdirectory in files for brokerage statements.
I you receive a paper copy of the statement and any ;of your members has a combination printer/copier/fax you should be able to create a PDF using that equipment and then follow the instructions above.
Sent via the Samsung GALAXY S(R)4, an AT&T 4G LTE smartphone
-------- Original message --------
From: Laurie Frederiksen
Date:10/08/2014 2:10 PM (GMT-05:00)
To: The Club Cafe
Subject: [club_cafe] Saving Monthly Statements
Do any of your investment clubs have this issue?
I am used to getting paper copies of brokerage statements and keeping them in a filing cabinet. I keep forgetting that in todays world of electronic statements rather than paper ones, it's probably still a good idea to keep the electronic copies filed somewhere.
It's a good practice for several reasons:
They're available for other members of your investment club to be able to review them
They're needed when audit time comes around
Brokers may not store them for long periods of time for you
They are important if you ever have issues with cost basis amounts shown for any of your stocks. If you've made mistakes in your entries during the time you've held a stock, you may need to use your old statements to track down and fix the problem.
How do the rest of you handle this? Are you diligent about downloading statements when they come out and then saving them in the bivio files area? That does make a nice central location where everyone can access them. It also keeps them in one place so future treasurers can get to the information if they need it.
This seems like it might make a good monthly job for someone who is designated as an assistant investment club treasurer. Any thoughts?
Laurie Frederiksen Invest with your friends! www.bivio.com
I upload the copy of the broker's pdf to a Bivio folder named "Broker Statements" with a sub-folder identifying the year and then rename the file to include a two-digit month , e.g. '04 Apr.pdf' so it sorts sequentially and not alphabetically. I don't include broker's name or any other information since what matters is the month within the year I am searching in Bivio.
Mike Jones
Wall$treet Wannabees
Bloomington, MN
From: Laurie Frederiksen <laurie@bivio.biz> To: The Club Cafe <club_cafe@bivio.com> Sent: Wednesday, October 8, 2014 3:09 PM Subject: Re: [club_cafe] Saving Monthly Statements
You would download it from your broker and then upload it into the bivio files area.
Laurie Frederiksen Invest with your friends! www.bivio.com
On Thu, Oct 9, 2014 at 10:36 AM, Mike Jones via bivio.com wrote:
I upload the copy of the broker's pdf to a Bivio folder named "Broker Statements" with a sub-folder identifying the year and then rename the file to include a two-digit month , e.g. '04 Apr.pdf' so it sorts sequentially and not alphabetically. I don't include broker's name or any other information since what matters is the month within the year I am searching in Bivio.