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Create Segregation Policy for a fund in Simple Fund 360

Introduction

To successfully create a segregation policy in Simple Fund 360 the following steps will need to be completed:

  • Create a new Segregation Policy and Policy Period
  • Create the Segregation Pools and allocate Members to Segregation Pools
  • Allocate Investments to Segregation Pools 

Navigation

 

From the Main Toolbar, go to Member.

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Select Segregation Dashboard from the list.

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Create Segregation Policy and Period

A segregation policy will need to be added each financial year in Simple Fund 360. If the policy does not change, the Copy Existing Policy option can be used.

  1. To add a new policy, from the Segregation Dashboard select Create New Policy. 

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  2. Select Create New Policy once more.

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  3. Input the Policy Period (example 01/07/2016 to 30/06/2017) and select Set Policy Period. Simple Fund 360 supports multiple policy periods in a given financial year.

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  4. Select the next tab to learn how to create asset pools. 

Create Asset Pools and allocate Members

  1. Select Create New Pool.

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  2. Name the Pool.

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  3. Select the Member accounts to add to the pool.

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    Select All

    The option Select All can be used to add all accounts for a member to the pool.

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  4. Set the allocation percentage for each account. The total percentage must equal 100%. 


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  5. Select Create Pool. 
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  6. If a fund has more than one pool, create the additional pool(s). Once all pools are created, add investment accounts to the pool(s). 

Allocate Investments to Asset Pools

  1. Select a Pool to allocate investments to.

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    Note: The selected pool will display Selected in the top right corner. 
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    Note: An unselected pool will display Click to Select in the top right corner.
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  2. The Account Selector will appear on the left. The account selector allows you to search for both control and sub-accounts to segregate to the relevant pool. 

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  3. Select the Account Types to allocate. 

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    Account Type Explanation
    Investment This will display investments of the fund. Select the Control account to expand and display an investment's sub-accounts. Note: Allocating an investment account will also allocate linked income and expense accounts to the pool.
    Expense This will display one off expense accounts of the fund that can be allocated to a pool.
    Bank/Term Deposits This will display all bank and term deposit accounts. Select the Control account to expand and display an asset's sub-accounts. Note: Allocating an investment account will also allocate linked income and expense accounts to the pool.
    Income This will display one-off income accounts that can be allocated to a pool.


    The account selector allows you to search for both normal and sub-accounts to segregate to the relevant pool. 

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    Select a Control Account to expand the sub-account listing.

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  4. Select the Allocate Arrow to assign an investment to the selected pool. A control account can also be assigned (this will assign all sub-accounts).

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  5. Complete the allocation of assets for the pool. 

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  6. Note: Each time you allocate an investment to a pool this will automatically save. 

  7. Once you have allocated the accounts, select Back to Segregation Dashboard. 

    Investments with no balance and investments that have been disposed of in the current year to $0 will not show in the segregation screen.

     

Policy History

From the segregation Dashboard review Current Financial Year Segregation Policies, or All Segregation policies by selecting the Policy History Button. 

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Current Financial Year Segregation Policy - Will allow you to switch between multiple policies in a financial year 

All Segregation Policies -  Will list all historical policies created for the fund. 

Copy Existing Policy - Future Financial Years

Each Financial year, the segregation details will need to be entered. In the Segregation Dashboard select:

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and then select Copy Existing Policy:

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The policy of the last financial year will now apply to the Current financial year.

For users wanting to create a brand new policy, select Create New Policy.

Segregation Dashboard Additional Information

Refer to Segregation for how to:

  • Edit and Delete a policy
  • Pension fund requirements (account for non-deductible expenses)
  • Frequently asked questions

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