Fundamentals

FAQ notes relating to non-technical questions about clubs

• How do we handle a "non-dividend distribution"?
• Who needs to file tax returns?
• How do I close my books for the year?
• Where do I file the tax forms?
• How do I dissolve or disband my club?
• Record a Spinoff in myICLUB.com
• How can we perform a club audit?
• Why do I need to choose what cost basis was or was not reported?
• How do I use the Online Tax Printer?
• How can I tell if a dividend is qualified or not?
• Member Withdrawal
• Security Settings
• Record Member Fees
• Charitable Contribution
• Broker Sync page 2
• What is Compound Annual Return (CAR) and how is it calculated?
• Transfer member transactions
• Valuation Statement
• Petty Cash Journal
• Withdrawal Distribution Report
• Security Dividends
• Finding files after downloading.
• Calendar - Edit/Delete events
• Add Calendar Event
• Moving Toolkit information or database from one working copy to another
• Moving Toolkit information or database from a non-working copy to a fresh install
• Backup and reinstall of Toolkit 6 when the program can still be opened.
• Backup and reinstall of Toolkit 6 when the program can not be opened.
• Google Stock Split / Spinoff
• Using the File Storage Section in myICLUB.com
• Importing multiple companies at the same time from your computer
• What are Record Date and Ex-div (Ex-dividend) date, and how do they relate to Trade date and Settlement Date?
• Runtime Error 380 when attempting to open an ssg
• Error 3049 - Can't Open Database
• Unable to Process Update (Toolkit 6)
• Runtime Error 339
• Toolkit displays an error starting with -2147 -OR- 3343
• Unable to Update Prices / Import Data. Blank Window/Constant Wait/Working/Beachball
• Error 48 and/or "File Not Found" when trying to register.
• Can I use ICLUBcentral programs, sites or services on a Mac, or iPad?
• Trouble downloading. SAVE or RUN window never appears
• Wash Sales
• Before your next meeting
• After your next meeting
• Finding Stock Split information
• Toolkit tried to download roster of quality from Stock Central but there seems to be a problem with your credentials or your internet connection
• System cannot find the file specified (0x2)
• Handling BetterInvesting (BI) Dues
• Can members pay ahead ?
• Can a new member join a club at the same value as all the other members?
• What expenses are deductible?
• How do we handle shares owned through a broker and directly with a company?
• Cost Basis of Transferred Securities in a withdrawal
• Entering a withdrawal using the ICLUBcentral accounting system.
• Supported and Unsupported Securities and Transactions
• How to handle an ADR management fee , Foreign transaction tax, Foreign Financial Transaction Fee
• Backup and Reinstall of Toolkit 6 when the program cannot be opened.
• Closing the books for the year - Primers
• Exporting / Sharing Data from Toolkit 6
• Money or shares received after disbanding
• Finding and correcting issues when the bank or broker balance is more than a few cents out of balance
• Specific stock prices are zero (0.00) on the portfolio screen or valuation.
• Adjusting reclassified Dividends
• Under Armour (UA) stock split to create class C shares, UA.C
• Revocable Trusts in Club Accounting
• Investment Partnership Accounting for Canadian Members in a U.S.-Based Investment Club
• Basis of Securities Transferred to a Partner in a Partial or Full Liquidation of the Partner’s Interest in an Investing Partnership.
• Cannot print Excel spreadsheet from Investor Advisory Service (IAS) or Small Cap Informer (SCI)