Converting to a unit based system of club accounting
 Fred Dickinson asks,

How does a club go about converting to the unit based system of club accounting?

Converting to the unit value system is an easy process with bivio.

First, you should make this conversion immediately after closing your club books at year end.   By starting at this point in time, you will have an accurate adjusted cost basis for each member that will include each members distributive share or allocation of any club income, interest, dividends, expenses, and gains or losses realized by the club to date.    Once you have determined the accurate adjusted cost basis for each member, you are ready to begin the conversion and data entry into bivio's unit based accounting system.
You'll start by entering the "Opening Balance" for each member.    To do this, you will need the current value of each members account, the amount contributed to date by each member,  the taxable earnings distributed (allocated) to each member to date, and the number of units in each members account.  Since you are converting to the unit value system you don't know how many units each member has, so you'll need to calculate it.    The starting unit value is an arbitrary value.    Most clubs simply start with a $10 unit value, however, you can choose any value that you desire.   At this point, it really doesn't matter.   Then, to determine the number of units held by each member, simply divide the total value of each members account by this starting unit value.  
Next, you'll have to enter "Opening Balance" information for each block of each security that your club owns as of the date of the changeover to the unit value accounting.   This includes entering the purchase transaction for each and every block of stock that your club owns on this date.    This is easy to do by clicking on "Opening Balance" in the Investment area of your club in bivio.
And finally, you'll need to enter "Opening Balance" data for each of your cash accounts in the Accounts area of your club in bivio.   Remember, the date of each of these "Opening Balance" entries should correspond to the date and actual balance immediately after you have closed your clubs books at the end of the year.   This doesn't preclude you from starting to use bivio at any time during the year, however, if you do, you will need to enter all transactions made by the club subsequent to the date used for the "Opening Balances".

Now, you're all set.   It takes a little while to enter this historical data, however, once you've done it, your job is much easier. 
St.Louis, Missouri