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Ronald Park
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| 07/16/2008 7:08 PM |
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I have read and read and read on proper steps to handle member withdraws in iclub accounting. I have no problem calculating the amount due and we have enough cash to cover the check, so no stock need be sold.
My question comes with the club accounting software. I cannot find help as to how to show this in our software. I know that their shares of stock must be reallocated to the remaining members, but how do I do this?
I hope you can either explain of point me to the documentation I cannot find myself.
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StockCentral Host
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| 07/22/2008 1:53 PM |
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Ron,
It would help to know which version of Club Accounting you use, the it's fairly simple.
I use Online Club Accounting. The withdrawal process is quite easy. Click on the Accounting tab, and then on Members. Click on Withdrawal.
Fill in the required information of that page, and then click Continue. Follow the prompts, and you are done.
If this isn't enough help, please ask the question again, or ask any other question you might have. |
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Thomas Freeburg
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| 11/18/2008 1:32 AM |
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I am using Club Accounting 3.1 - and cannot determine how I can "reinstate" a withdrawing member, as the software valued the withdrawal correctly in Oct. but then when I went to withdraw the cash and pay the person in Nov. (our club has a 30 day wait period) - the program seemed to calculate in the activity of the market over the last 30 days. Now I am seem to be frozen in that I cannot delete the withdrawal, nor is the manual helpful on how to reactivate the person and start the withdrawal procedure over.
Any and all help would be appreciated.
tjf
Snohomish, WA |
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rip west
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| 11/18/2008 4:47 AM |
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I am somewhat confused by what you are saying. What do you mean by the
'program seemed to calculate in the activity of the market over the last 30
days'? The correct procedure in CA3.1 is to enter the withdrawal in October and
leave the pay out date blank. Then, in November, you complete the withdrawal by
clicking on members on the left hand side of the screen, and selecting 'Complete
withdrawals'.
I hope the reason that you are attempting to delete the transaction is not
because your club's total value has decreased since the original withdrawal
date. If so, it points out the fallacies of having a 30 day waiting period from
the time the account is valued until the payoff is made.
It shouldn't be too hard to delete the withdrawal, if that is what you want
to do. Again, click on Members on the left hand side of the screen. Then click
on 'edit transactions'. You may have to click on the 'Show inactives' box on the
next screen. Select the member, and change the dates so they encompass the
October date of the withdrawal. The October withdrawal should pop up on your
screen. Click on 'Delete' at the bottom of the screen, and the withdrawal should
be deleted.
Let us know if you have any questions.
Rip West
Saint Paul, MN
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Gene Rooks
Gotha, FL (W. of Orlando)
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| 11/18/2008 8:27 AM |
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Hi, Thomas. Go to the member menu or
transactions, and select Edit Transactions, being sure to check the include
inactives box. Then simply select the withdrawal entries, both of them if
you used two-step dates, and click on the Delete Selected Transactions at the
bottom of the screen. This will delete the withdrawal and your
member will be back in active.
Keep in mind that you must use an announcement date
that follows the valuation date the members value is based on, which is usually
the valuation done for the next meeting following their
resignation.
But, don't let there be another valuation date in
between that valuation date and your announcement date. You should have
only one a month, anyhow. If your payout should be delayed another
month, which hopefully won't be happening, enter your announcement date right
after the effective valuation date, leave the payout date blank, and then
complete that date when you actually pay them out. If any of this is
unclear, please write back
Gene Rooks, Space Coast Chpater
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Gene Rooks, Director
Space Coast Chapter
Accounting Instructor |
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