…"…effortless accounting, why did I not know about this before?…"… – Bob Martin
Running the investment accounts of an investment or share club can be a slow, laborious process, taking up hours of your time and instead you could be relaxing and enjoying yourself, or even doing something important like – researching stocks and shares to make a profit! This loss of time is potentially costing you money.
By the time you finish reading this article, you will know how to change all this and make the whole thing a smooth, enjoyable process.
Are you the person who’s been roped into doing the accounts for your investment club, and are finding it a difficult and time consuming job?……. I was.
I have been running the accounts for our investment club for a number of years, and at first I found it very frustrating trying to manage the different factors that cropped up during the normal day to day events in our investment club, such as managing different member’s monthly and one off contributions, accounting for joiners and leavers and distributing dividend income.
Like you, I didn’t want to be spending hours doing the administration for the club, when the time could be better spent doing what we started the investment club for – investing in stocks and shares.
I then began looking for a solution and my research, both on the web and speaking with other investment clubs, led me to discover that the popular Unit Valuation System of accounting addresses all of these issues.
The Unit Valuation System is the recommended method of accounting for investment clubs by Proshare and the National Association of Investment Clubs (NAIC), as well as being used by the majority of the clubs in the country.
The main benefit of using the Unit Valuation…
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