Valuation date
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Valuation date Our club is disbanding. Can the valuation date be the same day I process the withdrawals? If it is the same day, I know everything will balance. I know if the valuation date is the day before the withdrawals, then the value will change (from the withdrawal report), but the cash will remain the same per the withdrawal report. Does it work out either way to have a zero balance when all member withdrawals have been processed? Thank you One way is to use a Friday valuation date and process withdrawal on Saturday Our club is disbanding. Can the valuation date be the same Our club disbanded last Sept. If you are selling all stocks (which I recommend) the valuation date doesn't matter too much as all assets will be cash, so a final member report will have each members share before withdrawals. Keep in mind there may be dividend and interest distributions after stocks are sold. Your broker should be able to tell you how much and when they will be distributed (as much as as a couple months after sale). So you may want to wait a bit before withdrawing all members. You may also need to wait until Bivio releases the tax software for mid year filing. Regards, Jeff Rauch Sent from my iPhone On Apr 3, 2022, at 2:16 PM, Norman Gee via bivio.com <user*125100001@bivio.com> wrote:
For correct withdrawals the transaction date needs to be at least one day after the valuation date, and the entry made after both of those dates have passed. This link describes how to enter member withdrawals and select valuation and transaction dates: https://www.bivio.com/site-help/bp/Member_Withdrawal_Help Karen, contact us at support@bivio.com and we'll help with your questions about the withdrawals. You can find this link and other useful information under "Withdrawals" on the help page on the bivio website - https://www.bivio.com/hp Becky Kruse Become our Facebook Friend!
There is this from bivio about disbanding. Helped me so much when our club dissolved last fall. https://www.bivio.com/site-help/bp/Disbanding_A_Partnership_Help -----Original Message----- From: club_cafe@bivio.com <club_cafe@bivio.com> On Behalf Of Karen Leighty via bivio.com Sent: Sunday, April 3, 2022 1:51 PM To: club_cafe@bivio.com Subject: [club_cafe] Valuation date Our club is disbanding. Can the valuation date be the same day I process the withdrawals? If it is the same day, I know everything will balance. I know if the valuation date is the day before the withdrawals, then the value will change (from the withdrawal report), but the cash will remain the same per the withdrawal report. Does it work out either way to have a zero balance when all member withdrawals have been processed? Thank you . |
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