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Author: ripwest Three stars, 500 posts Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: of 7258  
Subject: Re: Club Accounting - Bivio is the best Date: 7/28/2000 12:34 PM
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docman,

Our investment club uses the NAIC software, which has been highly recommended by others.


Ok. I am a consultant for bivio, so I am biased. However, I have been intimately familiar with the NCA software for a number of years, answering questions, beta testing, and providing input to Easyware. So I think I do have some insight on the relative merits of the two programs, biased though that insight may be.

For over 5 years, I and others have been trying to get NAIC/Easyware to adopt some new features in their program. Things like being able to input a fee and payment on the same day, handling charitable contributions, handling transfers between members, treating return of capital transactions correctly, filing a correct partnership return if the club's assets are in excess of $600,000, handling partial distributions in excess of basis correctly, and the list goes on.

I became affiliated with bivio because of my frustration in getting the NCA program improved. And I am happy to report that, from a start in December 1999, they have been able to accomplish some of the items on my wish list, and are scheduled to complete the rest by the end of the year in time for the current year's taxes. Based on my experience so far, I have every confidence that they will meet this goal.

You raise some valid questions about security and what happens if the company goes out of business. I could ask the same about Easyware. You will take your hard copy reports and either find another software program to input data or do it by hand. As to security on the web, I am not an expert. I do know that they take every precaution to make sure that their website is secure. They also have an export feature that will download the data in xml format.

Add to this, the ability for clubs to see the updated portfolio daily, the ability to exchange files and messages, the columns on investment clubs, accounting, and taxation, the ability to have multiple treasurers, and a support system second to none. The support team prides themselves on answering questions within the hour, and it is a rare occasion when that does not happen.

So, I suggest that you give it a try. You can do it without risk or even the extra work of maintaining two sytemes. Just download your NCA data monthly or as many times as you wish.

I apologize to those who might be offended by a 'sales pitch'. Recent events triggered by NAIC's headquarters have provoked me a little, I guess.

Rip



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