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Mike's withdrawal



Hi folks,

I've just sent Mike his first of four monthly checks in the amount of
$1,049.39, and removed him from the HPD mailing list.  The valuation
statements will be a little funny for the next few months.  In order to
comply with our membership agreement, the complete withdrawal amount
must be based on our last valuation statement (4/14/00).  But in order
for the NAIC Club Accounting software to do this, I had to enter a
complete withdrawal of $4,197.57 on 4/14/00, even though we're only
paying 25% of it this month.  (If I entered four separate withdrawal
payments instead, the software would use four separate valuations --
next month's payment would be based on next month's valuation, etc.
This is not what our membership agreement says we should do.)

So I've (ab)used the "Suspension Account" feature in the Club Accounting
software.  I told the software that Mike made a full withdrawal of
$4,197.57 on 4/14/00, and then entered a transfer of $3,148.18 (75% of
$4,197.57) from the Suspension account to our checking account.  This
makes the Bank and Broker accounts come out right, and shows the amount
we still owe Mike in the Suspension account:

      Cash on Hand - Bank                                       412.81
      Cash on Hand - Broker                                    2147.86
      Cash on Hand - Suspense                                 -3148.18
                                                            ----------
      Total Cash Accounts this Date                            -587.51

Just so you know...

Joe