Simple Fund 360 automatically updates wrap feed distribution transactions for any supported wrap feed with their respective final tax components when the annual statement is made available.
Without any action on your part, Simple Fund 360 will update distribution transactions to revise their estimated tax components to the actual tax components from the annual statement. This happens automatically without any additional effort on your behalf.
Reconciling the tax components
The tax components received by Simple Fund 360 can be reconciled in two ways:
- Distribution Tax Automation screen
- Manually reconciling to the Annual Statement
Use Simple Fund 360's Distribution Tax Automation screen to quickly compare the ledger data recorded in Simple Fund 360 with the external data from the Annual Statement.
The feed distribution transactions can be viewed to ensure that they contain the tax components listed in the Annual Statement.
The tax components can be found in the More Details section of the distribution transaction in Simple Fund 360.