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.
A split/subdivision is where the number of share/units in an investment is increased with no change in the original cost of the shares/units.
Process a Share Split (Subdivision)
This share split is an example only.
From the Corporate Actions screen, view the Type column. Confirm Share Split appears under the column before proceeding.
- Select Process under the Status column.
The Security will be automatically selected.
Share Split will display as the Corporate Action Type.
- Select the chart account for the corporate action (for example, 77600/BHP.AX).
The Ex / Balance Date (Corporate Action Ex Date) and the Corporate Action Date (Transaction Date) will be selected. Simple Fund 360 will create a share split transaction in the Transaction List based on the corporate action date that was entered; and parcels dated prior to the Ex / Balance date will be affected by the action.
- The units on hand after the split will appear (the current units on hand for the investment will appear on the left). The Corporate Action Effect field will display the increase in units after the split.
- The Corporate Action Summary will appear below. Select Process Corporate Action once you have confirmed the share split details are correct.
The share split will display as a Transaction in the Transaction List.
How delete a Share Split
If you are required to change a corporate action, you can delete and re-process the action from the Corporate Action screen.
|From the Main Toolbar, go to Investments.
|Select Corporate actions from the list.
Alternatively, you can access the Corporate Actions screen from the Transaction List:
Locate the corporate action to delete. Select the check box located next to the transaction and Delete.