Partnership Bank Account Considerations

We recommend that your club try to operate with only a brokerage account. Most clubs have a very minimal need for checking and if they do, most of the brokers we support with AccountSync offer checking. Having only one account simplifies your record keeping. If you are using an AccountSync broker, all your transactions will be entered automatically and you will only have one account to reconcile each month.

If you will not have a bank account, you do not even need this paragraph in your Partnership Agreement. It is just shown here in case you do decide to open one for your club.

Back to Partnership Agreement

Disclaimer: statements are opinions expressed by bivio Customer Support and are not official statements from any government agency. These statements are not intended to replace professional legal or accounting advice. When in doubt, follow the advice of your lawyer or accountant who is familiar with your particular circumstances and the laws of your state.