AccountSync is a popular bivio feature. It is an electronic link between your investment club brokerage account and bivio. It helps you keep your records accurate and up to date easily and efficiently. You can consider it your highly competent assistant. It's still up to you to make sure it has entered everything correctly each month, but you will find that will only take a very quick check. If you do find any issues, you'll be able to get them corrected in a timely manner so your accounting will stay accurate and up to date.
Transactions in your brokerage account are automatically and securely transmitted and entered in bivio each day. This includes member deposits, stock purchases and sales, interest, stock splits, mergers, dividends, spin-offs and more.
AccountSync automatic updates are made early in the morning of the days following days the market is open. For example, Monday transactions will be picked up early Tuesday morning. When transactions have been entered into bivio by AccountSync you will receive an email letting you know the details of the entries that were made.
AccountSync reads in transactions that have happened since it's last update. It is not a true synchronization of your accounts so it will not go back and change any past entries.
AccountSync works with a variety of brokerages. You can see the current list here: Account Sync Brokers
If you use AccountSync, your treasurers job is significantly easier. All you need to do is identify any deposits or withdrawals AccountSync enters and double check once a month that the information entered agrees with your brokerage statement. You will find that this reconciling process goes extremely quickly. 99.9% of the time AccountSync has entered everything fine including any complicated reorganizations.
If you have a question about an entry or think something needs to be corrected and you don't know how, we are glad to help you with it. Just email us at firstname.lastname@example.org
If your club is not using AccountSync, we highly recommend it. You will find many happy clubs that are very glad they do. It simplifies your club record keeping and helps you streamline your club operations so you can spend your time doing the fun stuff like choosing investments!More questions? More Help