Step 1

Enter the security sale date and choose the security from the drop down list of securities owned by the club.

Click Continue.

Step 2

• Enter the number of shares the club sold
• The Sale total (price of shares sold times the number of shares sold). Do not subtract the commission and/or fees, if any. If the security is worthless, enter zero (0). Do not enter the price per share.
• Enter Commission and fees in their own box.
• Club Accounting Online calculates the Net proceeds after you enter the other data
• Choose the Account the money was deposited to.

Optionally, enter any comments about the transaction and/or choose one of the default Reasons for Selling.

Click Submit.

Step 3

If the club only had one block of shares, or sold all of their shares, you will now see a screen like the one below Step 4. If the club had more than one block of shares, you will see the blocks of the chosen security owned by your club. Choose the blocks and shares that you will sell by entering that number of shares sold from each block in the box next to the displayed blocks of shares that you are selling.

Selecting the blocks from which to sell shares provides the club with control over the reportable capital gain from the sale. Considerations should include the long- and short-term holding period and the original price of the shares in a block. When you actually sell the shares, you need to inform your broker which shares to sell. Make sure you do this; the accounting system uses First In, First Out (FIFO) which is the most common method, but some brokers will sell Last In, First Out (LIFO), or may sell based on which shares have the lowest cost basis.

Click Submit.

Step 4: The transaction is now saved. The Confirmation Screen allows you to check the data entered before saving the transactions. Click one of the following buttons on the Confirmation Screen.

Click Delete to delete the transaction.

Click Edit to return to the transaction entry page to correct mistakes