There may come a time when your club decides to switch treasurers. That is a good plan. Rotating this critical job helps demystify it for everyone. It really is a simple job. After all, your club was smart enough to use bivio!

We'd recommend that you make the full switchover after tax season rather than at the close of the calendar year. A good plan would be to have a treasurer elect who will work with the outgoing treasurer to help get your club audit done and prepare your taxes. It will be a little less intimidating for them to take over full responsibility after that.

The mechanics of switching treasurer in bivio are pretty simple. There are only two things you need to do:

1. Member Privileges

   You need to modify the privileges for the new treasurer so they'll be able to edit your club records.

   • Here's an explanation of member privileges: Member Privileges - Description
   • Here's an explanation of how to change them: How to Change Member Privileges

   Note - Do not change the privileges for yourself until you have changed the privileges for the new treasurer. It is fine to have two people with Treasurer or Administrator privileges.

2. Treasurer Training

   To help with getting your new treasurer oriented, we recommend our new treasurer training series. It has three parts:

   • An Orientation to Investment Club Accounting
   • Monthly Treasurer Tasks
   • Non Monthly Treasurer Tasks

In terms of the IRS, if your club treasurer is the "Responsible Party" the IRS should contact with questions about your club finances, make sure to update their information using this form: Form 8822-B

Welcome to the new treasurers! Don't forget, there are lots of ways to get help using bivio. You can find a list of them all here: Getting Help With bivio

More questions? More Help