When entering withdrawals where the club will be giving shares of stock to a member, there are a few things to keep in mind:

• Withdrawals cannot be entered on the same date as a Valuation report; they must be at least one day after a Valuation report.
• When you are entering withdrawals, the accounting program will check its record of Valuations, and use the stock price from that report. This makes sure that even if the actual transfer happens a few days later, the value of the shares will be based on an agreed on amount; the number of shares won't change just because of the timing of the transfer.
• If you are performing a partial withdrawal, our system needs the Transaction date to be the same as the Payout date.
• If you do not enter a Payout date, the site will not proceed to the screens where you choose shares of stock; a payout date *must* be entered, before you can choose which shares of which companies.
• If you are entering withdrawals for more than one member, each member's withdrawal needs to be dated as if it happened on a separate date.
  • If you have a Valuation on a Monday for example, then the withdrawals could go one each on Tuesday, Wednesday, Thursday, etc.
  • You do not need to enter one withdrawal for each stock, only one per member. A club withdrawing three members only needs to date the withdrawals on three separate dates, no matter if there are shares of 2 or 20 different companies being transferred.

To start, go to Accounting > Members > Withdraw Member.

• Select the Member's name.
• Click to select if this is a Full or Partial withdrawal.
• Select the Transaction dates.
  • The Announcement date controls which Valuation and member status the site will use to determine how much each unit is worth, and the price of each share to be transferred.
  • The payout date controls when the stocks (and any left over cash) will be removed from the club records; if you aren't sure the exact date, enter the date when you plan to contact the brokerage to let them know which shares to transfer.
• Put a check-mark in the *Check this box if securities will be transferred as part of the withdrawal* box
• Click Continue.

• On the next screen, enter the cash value of the withdrawal in the *Total Value of Withdrawal* box; if this is a full withdrawal, the field will be filled in automatically.
• In most withdrawals there will be some cash in addition to shares; make sure to select the account it should come from.
• Click Submit.

• On the third page, select the number of shares the member will receive, and click OK.
  • If you have already transferred the shares before entering the withdrawal, you can adjust the price per share on this screen, if you need it to match to prices used at the brokerage.
• Click Submit

• On the fourth page, select which block the shares will be coming from. The site will always choose the oldest block first. This is the default for most brokers as well, but if you aren't sure, get in touch with the broker to confirm.
• Once this is filled in, click Submit.

The system will show a Summary screen. Click OK here, and the withdrawal is complete.