| All investment clubs must keep proper | | | | can be assured that they are filing the |
| financial records. The club treasurer is | | | | correct forms. |
| responsible for keeping the books organized | | | | |
| and accurate. However, this can be a rather | | | | Investing software is an essential tool for |
| complicated and time consuming task when | | | | investment clubs and investors. It helps to |
| there are many members in the club. That's | | | | analyze stocks, markets, company's |
| why investment club software is an essential | | | | fundamentals, graphs and charts so you can |
| tool that every club should have. | | | | make an informed decision about which stocks |
| | | | to invest. If you are a novice investor, |
| There are three main types of investment club | | | | investing software takes the mystery out of |
| software available ? accounting, tax, and | | | | investing. It teaches how to invest by |
| investing. Some software packages combine | | | | introducing time-tested methodologies that |
| all three functions. Accounting club | | | | enable individuals and clubs to assess stocks |
| software makes it easy to manage member | | | | right away. This type of software can provide |
| contributions and withdrawals, buying and | | | | interactions through the internet to give |
| selling of shares, distribution of dividend | | | | current market information as well as trends. |
| income and preparing tax returns. Since all | | | | |
| club financial information is in one place, | | | | The 3 types of investment club software can |
| members can easily be updated on the club's | | | | be purchased individually or as a package. It |
| investments and their individual | | | | may be cheaper to buy as a package. Then |
| shareholdings. Specific reports and graphs | | | | again, choose a software or package that is |
| can also be generated and printed. | | | | flexible and easy to use. |
| | | | |
| As most investment clubs are formed as | | | | The benefits of investment club software far |
| partnerships, they must file an annual tax | | | | outweigh its cost. It saves time, |
| return irrespective of whether they make a | | | | frustrations and reduces human errors arising |
| profit or not. Keeping financial records with | | | | from making computations and entries by hand. |
| a club accounting software ensures accurate | | | | It also eliminates the need to hire an |
| reporting for tax purposes. Investment club | | | | accountant or tax professional, thus saving |
| tax software enables the treasurer to simply | | | | money for the club. Best of all, it keeps the |
| print federal tax forms for the club and for | | | | club's books organized. |
| each member. Once the forms have been | | | | |
| reviewed and signed, they can be sent off. | | | | Investment clubs have been growing |
| There's no need to fill in tax forms by hand, | | | | tremendously in recent years. Many people who |
| which can be tedious and difficult if the | | | | feared about investing on their own have |
| treasurer does not understand tax law. | | | | reaped the rewards by joining or starting an |
| Investment club tax software is updated every | | | | investment club. |
| year for changes in IRS tax forms so clubs | | | | |