Return of Capital - Transaction List

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Release 1.21 (18/12/2015)


Return of Capital transactions can be posted from the Corporate Actions screen or from the Transaction List. For the Corporate Action screen article, click here.

 

Note

BGL do not provide accounting or taxation advice. The following is designed to act as a guide for Simple Fund 360 users. It is not designed to be accounting or tax advice and should not be taken as a strict guideline. Other methods that are more suitable may be used instead of these steps.

 

 

Navigation


Corporate action transactions are entered through the Transaction List.

 

From the Main Toolbar, go to Accounting.

Select Transaction list

 

Instructions


  1. From the Transaction List screen, select New Transaction. From the drop down list, select Bank Statement.
  2. Input the Date of the return of capital and a Reference (Simple Fund 360 will automatically produce a reference number, but it is editable). You can include a description in the Description box.
  3. Under the Account heading, select the bank account from the Select an account box. Click on the next Select an account box. Begin typing and select account 77600/INVESTCODE  that is being disposed of.
  4. Input a 0 in the Units column to account 77600/INVESTCODE and the return of capital amount as a Credit. Simple Fund 360 will post a corresponding Debit entry to the bank account.

    You have to input "0" in the Units field and should not leave the field blank. Otherwise, this will be treated as a manual revaluation by SF360.




  5. The Return of Capital Details panel will now appear. Simple Fund 360 will split the return of capital amount between the investment's purchase parcels (where there are more than one). You can alter this split by selecting Select Parcel and choosing the parcels to apply the return of capital to.


  6. After you have entered all information for the transaction, select Post to add the transaction and return to the Transaction List, or select Post & Add Another to add the transaction to the Transaction List, but remain on the Bank Statement screen.

 

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