How to re-do a withdrawal in

Sometimes after entering a withdrawal you may find that the transaction needs to be re-done.

This can happen for reasons as benign as a typo to as deliberate as a transaction happening in the club between the time that a valuation is run for the member withdrawal and the actual withdrawal itself. Before re-entering a withdrawal, keep the following guidelines in mind:

When you enter a withdrawal, make sure that the Announcement Date date does not fall on the same date as one of your club's saved valuation dates. Make sure to start at least one day after the date of the valuation used to figure the member withdrawal amount.

Multiple withdrawals can be entered on the same date, unless two or more members are taking stock, and want shares in the same company. For example: If you have two withdrawals, and one member wants Home Depot, while the other wants Lowes, the withdrawals can be on the same date. If both members want Apple though, the withdrawals must be entered on a separate date. Regardless of which case applies, you do not need to enter new valuations for these withdrawals, the system will continue to use the value from the saved valuation report.

Whenever possible, make sure no other types of transactions are entered on the same date as a withdrawal; ignoring this may cause problems when completing your taxes at the end of the year.

Do not put the Announcement Date on 12/31 -OR- 01/01 of a year

With this in mind, here are the specific steps for re-entering the withdrawals:

Removing a a member still showing up after a withdrawal involves three main steps:

  1. Remove the original withdrawal
  2. Re-enter the withdrawal
  3. Update your club records.


  • First, make a backup of your current club records:
    • Go to Accounting > Utilities > Backup Manager
    • Click the Make Backup button.

  • Next, print out Withdrawal Distribution reports:
    • Go to Reports > Member Withdrawals.
    • Print out the reports for each member in question.
    • Make sure to Highlight or Circle the Net withdrawal amount on the withdrawal report; this is how much the member actually took out of the club.
    • Keep the report(s) handy; you will use them to make sure the re-entry of the withdrawal is correct.

  • Third, remove the withdrawal
    • Go to Accounting > Members > View/edit transactions.
    • Change the from date to be the date of the withdrawal transaction. If you are working on a two-step withdrawal, make sure to use the Announcement date.
    • Click the Submit button.
    • Find the withdrawal transaction in the list. NOTE: If you are working on a two-step withdrawal, make sure to find the Withdrawal announced/valued entry, not the Withdrawal Paid entry. Incorrectly deleting the Withdrawal Paid transaction for a two-step withdrawal is the most common reason for not being able to re-enter a member withdrawal.
    • Click the withdrawal transaction to select it.
    • Make a note on the withdrawal report as to which account the withdrawal was paid from.
    • Click Delete and then Confirm deletion to remove the withdrawal.

When the withdrawal has been removed, you will be returned to the Accounting > Members page.

Last, note and remove any extra transactions:

If there are any Member Deposit or Member Fee transactions listed for the member(s) who you are working on re-doing a withdrawal for, make note of the transaction details and then delete those transactions. It is very important to make note of the details, as you will need to make sure to re-enter these club transactions once the member withdrawal is complete.


1. Confirming Withdrawal Amounts:

On the withdrawal report, make sure you have circled or otherwise noted the Net Withdrawal Amount, and the account that the withdrawal was paid from. This will be used when entering the withdrawal to see if you need to put in any sort of a withdrawal fee.

2. Entering The Withdrawal:

a. Go to Accounting > Members > Withdrawal.
b. On the first screen, choose the member from the drop-down list, select a Full or Partial withdrawal, and enter the announcement and payout date (if it is not a two-step, just use the same date for both boxes).

NOTE: If the member does not show up in the list, do the following:
1. Go to the People page
2. Click the Show former members link near the top right-hand corner of the page
3. Scroll down to where that member is listed.
4. Click the reinstate member status link next to that member
5. Return to to Accounting > Members > Withdrawal

c. If this is a cash and stock withdrawal, use the check-box to indicate this.
d. Click Continue.
e. The next screen will show the withdrawal value as determined by club accounting. If this is different than the Net Withdrawal Amount noted above in section 1, enter the difference as a withdrawal fee.

NOTE: If the withdrawal value is smaller than the Net Withdrawal Amount noted in section 1, make sure to enter the withdrawal fee as a NEGATIVE number.

f. Click Submit. If this is a cash only withdrawal, it is now complete, and you can skip to the Updating Club Records section. If there are stocks involved, there are two more screens to go.
g. The next screen will ask you to enter the price per share and the total number of shares of each stock involved in the withdrawal. The default price used is as of the last valuation; this is the most common method described in club bylaws, but if you aren't sure, check your club rules.
h. The next screen will ask you to choose which block the shares will come from. Most brokers will sell shares from the oldest block first, so Club Accounting defaults to this. Again, if you aren't sure, check with your broker.
i. When you have selected the block(s) to take the shares from, click SUBMIT.
j. The last screen will show the withdrawal details; if any of them appear incorrect, you can click DELETE from here, and start again.


When you have completed the member withdrawal, the last step will be to make sure if you need to do any final cleanup.

1. If there were any transactions other than Distribution of Earnings for the member showing up after the withdrawal date, make sure to re-enter them in to the program at this time. If not, the last thing to check is the Distribution of Earnings.

2. If the member withdrew during the current calendar year, this means that there have been no Distribution of Earnings transactions since the member has withdrawn, and you do not need to do anything else.

3. If the member withdrew in a previous year, make sure to re-do that year's allocation. If the member withdrew further back in the club's history, make sure to also re-do each allocation, up to the end of the most recently ended year.

a. Go to Accounting > Utilities > Allocate Income and Expenses.
b. Choose the year that the member left the club, and click Yes.
c. will display the allocation for that year, when it is complete.
d. Repeat the previous three steps for each year that has ended since the member withdrew from the club.

When you have completed this, the withdrawal record will be fully corrected.