LRBA with multiple loan accounts

Add Property

1. From the Chart of Accounts, click Add Account, and select Investment from the drop down list.  

2. Select the Investment Type as Real Estate Properties (Australian - Residential). 
3. From the Select Securities drop down, select Create New. 
4. From the New Security screen, input a unique Security Code (IP-001) and Security Name (e.g.123 FAKE STREET, TOORAK).

5. Input the Security Details. 

6. Select the Prices tab to input the price history for the investment.

7. Select Add Price and input the Date as 01/08/2014. Now enter the Net Asset Value of $499,903.27 and select Add.

8. Select Save to add the security to the list.

9. From the Select Securities drop down select IP-001.

 10. Select More Details >> and then select the checkbox Asset subject to Limited Recourse Borrowing Arrangements. This will create the associated linked loan account 85500. 

11. Select . Account 77200/IP-001 will now be added to the fund's Chart of Accounts. 

Create Additional Loan Account(s)

In this example, one additional loan account will be added. Two loans are linked to the property in total.

1. From the Chart of Accounts, select Add Account, and from the drop-down select Liability LRBA.

2. Create an INVESTCODE for the loan account and a name. You can also record the bank account details for the loan if you are using a data feed under the BGL Bank Data Service. Refer to Adding a Loan Account for BGL Bank Data Service.

3. Select Save to add the loan account. Now the loan account is created, it can be linked to the relevant property via the chart.

Next, use the search bar at the top of the chart screen to search for the property account (for example, 77200). Select the relevant property account.

4. Select More Details >> from the edit screen.

5. Under the Linked Accounts heading select Add Link Account and from the drop down scroll down to select Liability - SMSF

6. Liability - SMSF will appear at the bottom of the linked accounts for the property. Scroll down and click on the Please Select icon. From the drop down select 85500 Limited Recourse Borrowing Arrangements.

7. Select Add New Sub Account and from the drop down select the additional loan account. If there are more than two loan accounts, repeat step 6 and step 7 until all loans have been linked.

8. Select Save to confirm the loan account linkage to the property. For detailed instructions to record the deposit and settlement of the property (including loan recognition) refer to Residential Property Purchase - with Settlement Statement example.

Prepare Investment Report

To download an individual report in PDF, Word or Excel format:

1. On the left-hand side of the Reports screen, Drag & Drop the Investment Summary or Investment Summary with Market Movement from the Investment Reports list.

2. Once the report has been dragged & dropped, select Options (to the right of the report).

3. Select either Download PDF, Download Word or Download Excel.

You can also add these reports to a Report Pack. See Reports for instructions.