Issue
I've created a Segregation Policy, and have allocated all accounts to fund members. However, when I produce the Create Entries Report, it displays unsegregated income and expenses. How do I fix this?
The Segregation Dashboard will allow users to allocate investments currently held by the fund. However, the dashboard will not display any investments disposed of in the year.
These disposed investments should have been accounted for in the segregation policy prior to their disposal to ensure any income and expenses are allocated correctly.
This involves segregating at the start of the year, year-end, and whenever purchases were made throughout the year.
Locating the Issue
1. Go to the Segregation Dashboard.
| From the Main Toolbar, go to Member. |
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| Select Segregation Dashboard from the list. |
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2. Ensure all relevant accounts have been successfully allocated to members.
4. Produce the Create Entries Report, it will display the Unsegregated Pool of Income Expenses.
5. Review the Trial Balance and the income and expenses should reconcile against the unsegregated portion of create entries report.
This amount should include the Member Related Transactions (i.e. contributions as income & life insurance premiums as expenses). This should also include any general expenses that are not associated with investments (i.e. auditor fees & accounting fees).
If the Trial Balance and unsegregated portion of the create entries report does NOT match, follow the troubleshooting steps below:
Possible Causes & Solutions
Any investments held by the fund that were not segregated to fund members, but fully disposed of within the current financial year will appear on the Trial Balance.
1. Generate a Trial Balance and locate all the investments fully disposed of within the year.
2. Record the purchase of 1 unit of the disposed investments for $1 in the Transaction List within the current financial year. Balance the transaction against a suspense account. Example:
| Account | Debit | Credit |
| 77700/TSLA.NDQ (1 unit) | 1 | |
| 99900 Manual Suspense Account | 1 |
3. Review the Segregation Dashboard to see if any of these investments display under the Unsegregated Pool.
4. Edit the current policy and proceed to allocate the investments against the relevant member accounts.
5. Delete the transactions recorded as per step 2 and proceed to reverse and then recreate entries.
Any investments purchased (that were not segregated to fund members), and subsequently fully disposed of within the same financial year, will not display in the Trial Balance, but rather in the General Ledger.
1. Generate a General Ledger and locate the investments that were purchased and fully disposed of within the same financial year (these investment accounts will typically have no opening balance and no closing balance)
2. Record the purchase of 1 unit of the disposed investments for $1 in the Transaction List within the current financial year. Balance the transaction against a suspense account. Example:
| Account | Debit | Credit |
| 77700/TSLA.NDQ (1 unit) | 1 | |
| 99900 Manual Suspense Account | 1 |
3. Review the Segregation Dashboard to see if any of these investments display under the Unsegregated Pool.
4. Edit the current policy and proceed to allocate the investments against the relevant member accounts.
5. Delete the transactions recorded as per step 2 and proceed to reverse and then recreate entries.
If investment income and expenses have been recorded in the Transaction List, but the investments were not originally held by the fund, the income and expenses will display as unsegregated when producing the Create Entries Report.
1. Review all the income and expense accounts in the Trial Balance and ensure they are linked in the Chart of Accounts to Investments/Assets that were held in General Ledger.
Refer to Linked Accounts for more information on how to do this.
2. Record the purchase of 1 unit of the investments that were not held in the financial year but had related income and expense accounts posted in the Transaction List within the current financial year. Balance the transaction against a suspense account. Example:
| Account | Debit | Credit |
| 77700/TSLA.NDQ (1 unit) | 1 | |
| 99900 Manual Suspense Account | 1 |
3. Review the Segregation Dashboard to see if any of these investments display under the Unsegregated Pool.
4. Edit the current policy and proceed to allocate the investments against the relevant member accounts.
5. Delete the transactions recorded as per step 2 and proceed to reverse and then recreate entries.