| When bringing a club to bivio, an officer may choose between entering the club's complete transaction history and using a Switchover Date. Use of a Switchover Date means that transactions should only be entered from that date forward.
When should a club use a Switchover Date?
If your club has a multiple years of historical data, entering all transactions into bivio can be a time-consuming process. You can still generate accurate tax forms by only entering data since the start of the tax year. By using a Switchover Date, you save the effort of entering more data than is necessary.
If you do choose to use a Switchover Date, you will be prompted to enter opening balances for your accounts at the time of switchover. Detailed instructions for that process can be found under Editing Opening Balances.
Note: If your club has used iCLUBcentral® Club Accounting, you should import that data to bivio, rather than enter it by hand or use a Switchover Date.
When should a club enter all historical transactions?
There are advantages to not using a Switchover Date. By having your complete transaction history on bivio, you will have an accurate picture of the performance of each investment from the time you began your club. If your club does not have many years of complicated data, entering its complete transaction history can be worthwhile.
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