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Club Accounting Online Math Off by 1 cent
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One of those perplexing things that only a treasurer would probably worry about. I ran our 12/31/12 Treasurer reports, and have a very strange thing going on in our cash portion of the club's valuation within Online Club Accounting. In the Market Value column of the Valuation Report, it shows our Total Securities as 166,359.26. Our Total Cash Account is showing as 32,229.33. So add those together, and one (and certainly a computer) should come up with 198,588.59. However, instead the Total Value of Portfolio is showing as 198,588.58..... which is an incorrect total by 1 cent. The Individual Securities and Cash totals DO match our TD Ameritrade statement, but the TD Ameritrade Statement shows the correct Portfolio Total (combined Securities and Cash) as 198,588.59 (the correct sum). This "incorrect math" has never occurred before, and we've been using Online Club Accounting for years. Like I said, perplexing! Any ideas?
Don Maurer, Treasurer
WeVest Investment Club
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Is this Valuation from before or after your year-end allocation? Do you own fractional shares of securities? When you enter transactions, are you letting the program calculate the price per share from the number of shares and the total, or are you trying to make the cost match what the confirmation says? There are lots of potential causes for a one-cent discrepancy.
The way the program works is that it calculates the totals on an all-inclusive basis, not by figuring all the cash and all the security values and then adding those totals together, so sometimes there's a fractional penny that gets rounded in a different way.
If you want one of our techs to take a look, you can file a ticket on the ICLUB.com website.
Doug
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Club Accounting Online Math Off by 1 cent
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