Support for Club Accounting Online

How do I start a club using Club Accounting Online and get my club online?
Important Merger Information for TD Waterhouse Customers
I have started a club, now how do I get my club members online?
How do I run an audit?
I'm having password or site access problems.
How do I inform my club members of their new passwords.
How do I get something into the File Storage Section.
How do I download something from the File Storage section.
What happens when I click "delete" on a member profile?
How can I import my accounting records from the desktop version?
How do I change a stock symbol?
How do I disband my club?

How do I start a club in Club Accounting Online and get my club online?

There are two steps involved in setting up an online Club, creating your user account and creating your online club.

1) Creating your Club Accounting Online username and password

• Go to www.myiclub.com.
• Click on sign up for a new account
• In the Name field, enter YOUR name (not the name of the club)
• In the Email field, enter your email address.
• In the Username field, enter the username you would like. Note that this username is for you and you alone, not for the rest of the club. In addition, it must be unique. Chances are names like "Fred" and "Dan" are already taken. "Fred2112" or "DanClubName" probably are open for you to use.
• In the Password field, enter the password you would like. Keep in mind that capitalization counts. We recommend a password that is at least 8 characters long and hard to guess (not your name, dog's name, your birthday...)
• Re-enter the password to confirm.
• In the Security Question section, enter a question our system can automatically ask you if you lose your password. Ideally, the answer should be something only you know.
• Read the terms of service
• Check the box next to Yes, I have read and I agree to the preceding terms of service and understand the privacy policy.
• Click Sign up

  You now have a new user account! Time to create your online club.

  2) Creating your Club Accounting Online web site

  After you have finished creating your user account, you can create your online club. Please note that if you are creating a club for trial purposes, it will be the same club you purchase - don't go creating a new club when you want to purchase a subscription!

  In the Your Clubs page, you should now have a club listed, the Demo Club. This is for demonstration purposes only. You get to create your own club.
  

• Click form a new Club Accounting Online club to continue.
• Enter your club's name, your Tax payer ID (EIN) number. The EIN is optional and can be entered later. Note that your club name, like your username, must be unique. Women of Worth and Profit Minders has already been taken, but Profit Minders of Schenectady (at this time) has not.
• Click Continue
• Follow the on-screen instructions for getting your existing data into Club Accounting Online.

  You're done! You have a user account and an online club. To log in for the future, just go to www.myiclub.com and enter your username and password.

I have a club in Club Accounting Online, now how do I get my club members online?

You do not have to inform your club members of their passwords. Instead, you will need to issue an email invitation for each member, and in accepting the invitation and going through the sign-up process, each member will create their own user identity and password. You can do this after importing your data or on the left-hand column of the People page.

To invite your club members online:

• Log in to your Club Accounting Online account at www.myiclub.com
  
• Click on the red People tab at the top of the screen.
  
• Next to each member's name should be their email address. Click Invite online to send the invitation.
  
• If the member does not have an email address listed, click Edit profie to enter their email address.
  
• You have sent out the invitation. It is now up to the member to read their email, follow the instructions, and join you online. We recommend reminding members at the next meeting that you have just sent out their invitations.

How do I run an audit?

Club Accounting Online automatically performs an audit any time you enter any financial transaction, from a member payment to buying or selling a stock.Because the automatic audit is a built-in feature of Club Accounting Online, there is no manual audit function.

I'm having password or site access problems.

If your password or username isn't working for some reason, you can simply recover it at the password recovery page. That page is located here. This feature will simply email you a new password once you answer your security question.

If your password isn't working AND you changed your email address such that the email stored on the site isn't current, you will need to contact an officer of your club so they can change your email address to the current one. Then you'll be able to use the password recovery feature located here.

How do I inform my club members of their new passwords

You do not have to inform your club members of their passwords. Instead, you will need to issue an email invitation for each member, and in accepting the invitation and going through the sign-up process each member will create their own user identity and password. You can do this after importing your data or on the left-hand column of the People page.

Though somewhat different than what you may be used to, this new system has many advantages. First of all, no one but that member has to know what their password is. Second, a unique username system allows members to post messages, vote online, receive email announcements, and customize their privacy settings more easily. Third, this is enormously helpful in speeding up response times to support inquiries, because we are then able to identify just who is asking and what problem they are having. Fourth, a member can belong to multiple clubs with just one username and password.

How do I save a file to the File Storage section?

Note: These steps assume that the file will be on the desktop; if it is not, ignore the direction to look for the file there, and instead choose the actual location of the file.

• While signed in to myiclub.com, go to the File Storage section.
• In the File Storage section, click on the ADD NEW FILE link
• On the next page, click the CHOOSE FILE button to open the Upload File window
• Click DESKTOP on the left hand side of this window.
• In the main part of the Upload File window, find and double-click on the file in question; this will return you to the Add New File page.
• If you feel that the name of the file is not descriptive enough, enter a short description in the File Description box.
• Use the drop-down menu to choose the folder in the File Storage section that you would like the file to go into.
• Click UPLOAD to have the file copied from your computer to the File Storage section in your online club.

How do I save a file from the File Storage section onto my computer?

• While signed in to myiclub.com, go to the File Storage section.
• Any time you see a small black arrow next to a heading, that means there are files available; click any of the arrows to show the available files.
• When you find the file that you want, click on it. For most browsers, this will bring up a window asking to either save or open the file. If not, try right-clicking on the file name instead, and choose either the option to open or save the file.
• If you choose to open the file, Windows should download the file, and then shortly open the program. If not, try the file again, but choose the option to save the file (we always suggest saving to the desktop)
• If you have the file, and double-clicking does not open the correct program, try opening the program first, and then selecting to open the file.

What happens when I click "delete" on a member profile?

When you hit 'delete' on a member profile, you are removing a member from the club web site and canceling that user's ability to see the online club records. If the member you are deleting has units (a financial stake) in the club, you must step through a full withdrawal before being allowed to mark them inactive. If the member you are deleting has no units in the club, the member can be removed without going through a full withdrawal. All members of the club that have at one point had a financial stake in the club but have subsequently withdrawn will show up as former members in a special area of the People page.

How can I import my accounting records from the desktop version?

At the bottom left-hand corner of the Accounting screen (you get to this section via the red Accounting tab on the top navigation bar) you should see a link that says Import Accounting Records under the Utilities menu. Clicking on that should bring you to the import function screen.

How do I change a stock symbol?

• When you have logged into your club web site, go to the Accounting area.
  
• In the accounting area, go to the securities section by clicking on a stock symbol.
  
• Go into the Security Settings area. Then choose the company whose name has changed.
  
• Click on EDIT and then enter the NEW stock symbol.
  
• The program will change the name and then will be able to obtain the price updates.

How do I disband my club?

There are two ways to dissolve the club and distribute the proceeds among club members, the "Cash Only" method and the "Cash and Stock Transfer" method. If there are gains on some of your unsold shares, there may be tax advantages to the Cash and Stock Transfer method (please consult your tax adviser). Please be advised that after you disband your club the IRS requires you to file your final tax return by the 15th of the 4th month after operations have ceased. The return will cover the period from the start of the year up to the date that operations ceased.

Starting with the 2005 tax printer, we were able to offer the option to file a short year return to clubs using Club Accounting 3 and Club Accounting Online. If the club disbands during the year, the previous year's tax printer can be used to create final tax forms. Once you have followed the disbanding directions below, run the Tax Printer. It will detect that the club has dissolved, and will prepare final returns for the period starting January 1, of the year the club is disbanding, and ending with the date that operations ceased. Note - you will have to insert the beginning and ending dates on all schedules produced by the Tax Printer.

WARNING: You must wait until you have all the income and 1099s from your club's holdings. If you do not, you may end up getting a dividend or other income after you've already disbanded the club and handed out the checks. If this happens, you technically must re-run disbanding the club, change how much you paid everyone out, and refile. Your club is officially disbanded when you cut the checks, not when the vote takes place.

I. Cash Only Withdrawals Method

To process your final tax return you should print and keep copies of the following reports:

The IRS currently requires you to file your final form 1065, K and K1 forms within 90 days of the disbanding of your partnership.

II. Cash and Stock Transfer Withdrawals Method

If the club uses the Tax Printer software, print the club's 1065 and K-1's for all the members for the final year, using the Tax Printer for the prior year. Please check the "final return" box on Form 1065 manually.