If you are part of an investor’s club, then you probably know the trials and tribulations that can result from trying to square the accounts, who owns what, and how the stocks in your portfolio are doing. That is why you should look into investment club accounting software, which streamlines the entire process by making use of the automated computing abilities of computers.
For some reason (God knows why), members of clubs often feel duty-bound to track their financial performance and ownership stakes through the old pencil and paper routine – not a good idea. Investors have been known to waste much precious time unnecessarily poring over financial statements and cash balances when they could be doing other more productive things like actually thinking about their next great purchase.
The best investment club accounting software will take into account the unit valuation system. This method is approved by the National Association of Investment Clubs as well as Proshare. And yes, you can find software out there that will incorporate this method of tracking how many shares and units are owned by which club members. As coding has become easier and more user-friendly over the years, investment club software has begun to crop up here and there as different financial risk-takers stake their claim in putting their knowledge into a practical application that can help clubs all over the place to better manage themselves. A brief search around will yield results, as will talking to members of other investment clubs; they probably have some experience in this specific software arena.