I’d like to learn more about ‘account sync’ with bivio.
I’m curious how many are using it and the pros/cons of syncing.
Thank you.
Cecelia
BCI
Jeff Rauch on
In my experience account sync is the only way to go.
Advantages:
- most transactions are automatically recorded in Bivio, including dividends, interest, expenses (fees), stock trades etc.
- if your members include “penny IDs” in their investments, they are automatically allocated to the correct member. You do have to use the “multiple” investments option when allocating the investments and initially allocate each investment to the proper member.
Disadvantages:
- none, though occasionally cost basis has to be manually corrected.
Basically, each month I allocate member investments and check bottom line balances. If they agree between broker and Bivio I don’t have to drill down into details.
Jeff Rauch, Treasurer
SCS Investment Club
Sent from my iPhone
> On Feb 7, 2021, at 12:13 PM, cecelia vanderlip via bivio.com <user*35786400001@bivio.com> wrote:
>
> I’d like to learn more about ‘account sync’ with bivio.
>
> I’m curious how many are using it and the pros/cons of syncing.
>
> Thank you.
>
> Cecelia
> BCI
>
>
Colleen Goings on
Our club has been using account sync for several years and I have been the treasurer since 2015, to me the only way to go. It just makes doing the treasurers job and taxes a lot easier.
In my experience account sync is the only way to go.
Advantages:
- most transactions are automatically recorded in Bivio, including dividends, interest, expenses (fees), stock trades etc.
- if your members include "penny IDs" in their investments, they are automatically allocated to the correct member. You do have to use the "multiple" investments option when allocating the investments and initially allocate each investment to the proper member.
Disadvantages:
- none, though occasionally cost basis has to be manually corrected.
Basically, each month I allocate member investments and check bottom line balances. If they agree between broker and Bivio I don't have to drill down into details.
Jeff Rauch, Treasurer
SCS Investment Club
Sent from my iPhone
> On Feb 7, 2021, at 12:13 PM, cecelia vanderlip via bivio.com <user*35786400001@bivio.com> wrote:
>
> I'd like to learn more about 'account sync' with bivio.
>
> I'm curious how many are using it and the pros/cons of syncing.
>
> Thank you.
>
> Cecelia
> BCI
>
>
Herb Lemcool on
I could not be the treasurer with out it
Sent from my iPhone
On Feb 7, 2021, at 12:54 PM, Colleen Goings via bivio.com <user*15498700001@bivio.com> wrote:
Our club has been using account sync for several years and I have been the treasurer since 2015, to me the only way to go. It just makes doing the treasurers job and taxes a lot easier.
In my experience account sync is the only way to go.
Advantages:
- most transactions are automatically recorded in Bivio, including dividends, interest, expenses (fees), stock trades etc.
- if your members include "penny IDs" in their investments, they are automatically allocated to the correct member. You do have to use the "multiple" investments option when allocating the investments and initially allocate each investment to the proper member.
Disadvantages:
- none, though occasionally cost basis has to be manually corrected.
Basically, each month I allocate member investments and check bottom line balances. If they agree between broker and Bivio I don't have to drill down into details.
Jeff Rauch, Treasurer
SCS Investment Club
Sent from my iPhone
> On Feb 7, 2021, at 12:13 PM, cecelia vanderlip via bivio.com <user*35786400001@bivio.com> wrote:
>
> I'd like to learn more about 'account sync' with bivio.
>
> I'm curious how many are using it and the pros/cons of syncing.
>
> Thank you.
>
> Cecelia
> BCI
>
>
Linda Glein on
While there must be at least one or two cons, I'm not aware of them.
I'd like to learn more about 'account sync' with bivio.
I'm curious how many are using it and the pros/cons of syncing.
Thank you.
Cecelia
BCI
ira smilovitz on
The only "negative" is that the treasurer can become too lazy and not check that entries are brought over correctly. Occasionally, a transaction isn't included in the data transfer. If you (the treasurer) follow bivio's recommendation and review your bivio records against your broker's statement each month, you won't have that problem.
I'd like to learn more about 'account sync' with bivio.
I'm curious how many are using it and the pros/cons of syncing.
Thank you.
Cecelia
BCI
Alessandro Squeo on
Very good and very reliable. 99% success. As always you need to make sure it syncs correctly and sometimes you might need to adjust the deposits to the members manually when you transfer funds to or out of the broker. As far as stocks and Options go, very reliable and accurate. I highly recommend the sync service.
I'd like to learn more about 'account sync' with bivio.
I'm curious how many are using it and the pros/cons of syncing.
Thank you.
Cecelia
BCI
Roman Geletkanycz on
The sync feature is great but I can not use it. In my case, I have a fob which requires me to insert the fob code into my broker sign in password. As such, Bivio can not log into my broker account automatically to get the transactions.
This may be an issue for anyone who uses second step verification for log in.
NIP
Roman
From: club_cafe@bivio.com <club_cafe@bivio.com> On Behalf Of
Alessandro Squeo via bivio.com Sent: Sunday, February 7, 2021 2:31 PM To: club_cafe@bivio.com Subject: Re: [club_cafe] Account sync
Very good and very reliable. 99% success. As always you need to make sure it syncs correctly and sometimes you might need to adjust the deposits to the members manually when you transfer funds to or out of the broker. As far as stocks
and Options go, very reliable and accurate. I highly recommend the sync service.
The sync feature is great but I can not use it. In my case, I have a fob which requires me to insert the fob code into my broker sign in password. As such, Bivio can not log into my broker account automatically to get the transactions.
This may be an issue for anyone who uses second step verification for log in.
Very good and very reliable. 99% success. As always you need to make sure it syncs correctly and sometimes you might need to adjust the deposits to the members manually when you transfer funds to or out of the broker. As far as stocks
and Options go, very reliable and accurate. I highly recommend the sync service.
I'd like to learn more about 'account sync' with bivio.
I'm curious how many are using it and the pros/cons of syncing.
Thank you.
Cecelia
BCI
Roman Geletkanycz on
My Broker is Schwab and there is a work around – drop the second step verification – but I want the added control. I have had a financial account hacked and want the added control. My point to others is that if you want to safeguard the
account with more than a single password, I do not think sync will work.
Roman
From: club_cafe@bivio.com <club_cafe@bivio.com> On Behalf Of
Peter Dunkelberger via bivio.com Sent: Sunday, February 7, 2021 2:52 PM To: club_cafe@bivio.com Subject: Re: [club_cafe] Account sync
@Roman--who is your broker, and have you asked them about it?
The sync feature is great but I can not use it. In my case, I have a fob which requires me to insert the fob code into my broker sign in password. As such, Bivio can not log into
my broker account automatically to get the transactions.
This may be an issue for anyone who uses second step verification for log in.
Very good and very reliable. 99% success. As always you need to make sure it syncs correctly and sometimes you might need to adjust the deposits to the members manually when you
transfer funds to or out of the broker. As far as stocks and Options go, very reliable and accurate. I highly recommend the sync service.
I’d like to learn more about ‘account sync’ with bivio.
I’m curious how many are using it and the pros/cons of syncing.
Thank you.
Cecelia
BCI
V Johnson on
I completely agree with Ira's statement regarding checking your Bivio accounts against your brokerage statements. For a few months, TDAM wasn't including ACH transfers in the sync. Even they couldn't figure out what the issue was, but magically after a few months everything starting syncing correctly again. In the interim, I very easily entered those few transactions manually, but they only came to my attention because we were reconciling every month.
The only "negative" is that the treasurer can become too lazy and not check that entries are brought over correctly. Occasionally, a transaction isn't included in the data transfer. If you (the treasurer) follow bivio's recommendation and review your bivio records against your broker's statement each month, you won't have that problem.
I'd like to learn more about 'account sync' with bivio.
I'm curious how many are using it and the pros/cons of syncing.
Thank you.
Cecelia
BCI
Jeff Rauch on
Yeah, this is one conn. I had to turn off 2-step authorization to use account sync. So security is slightly degraded.
Jeff Rauch
Sent from my iPhone
On Feb 7, 2021, at 2:49 PM, Roman Geletkanycz via bivio.com <user*17361700001@bivio.com> wrote:
The sync feature is great but I can not use it. In my case, I have a fob which requires me to insert the fob code into my broker sign in password. As such, Bivio can not log into my broker account automatically to get the transactions.
This may be an issue for anyone who uses second step verification for log in.
NIP
Roman
From: club_cafe@bivio.com <club_cafe@bivio.com> On Behalf Of
Alessandro Squeo via bivio.com Sent: Sunday, February 7, 2021 2:31 PM To: club_cafe@bivio.com Subject: Re: [club_cafe] Account sync
Very good and very reliable. 99% success. As always you need to make sure it syncs correctly and sometimes you might need to adjust the deposits to the members manually when you transfer funds to or out of the broker. As far as stocks
and Options go, very reliable and accurate. I highly recommend the sync service.
The sync feature is great but I can
not use it. In my case, I have a fob which requires me
to insert the fob code into my broker sign in password.
As such, Bivio can not log into my broker account
automatically to get the transactions.
This may be an issue for anyone who
uses second step verification for log in.
Very good and very reliable. 99%
success. As always you need to make sure it syncs
correctly and sometimes you might need to adjust the
deposits to the members manually when you
transfer funds to or out of the broker. As far as
stocks and Options go, very reliable and accurate. I
highly recommend the sync service.
I'd
like to learn more about 'account sync' with bivio.
I'm curious how many are using it and the pros/cons
of syncing.
Thank you.
Cecelia
BCI
Peter Dunkelberger on
Interesting. I have user ID, then password, then questions to answer, which I consider two-step authentication, with TDA, and account sync works just fine. I am surprised that my login process is connected in any way with Bivio's ability to communicate with the broker.
The sync feature is great but I can
not use it. In my case, I have a fob which requires me
to insert the fob code into my broker sign in password.
As such, Bivio can not log into my broker account
automatically to get the transactions.
This may be an issue for anyone who
uses second step verification for log in.
Very good and very reliable. 99%
success. As always you need to make sure it syncs
correctly and sometimes you might need to adjust the
deposits to the members manually when you
transfer funds to or out of the broker. As far as
stocks and Options go, very reliable and accurate. I
highly recommend the sync service.