The member allocation worksheet allows users the ability to change the percentage or amount of profit/(loss) and income tax expense that is allocated to fund members. To access and use the worksheet:
| From the Main Toolbar, go to Compliance. |
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| Select Period compliance |
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- From the Period Compliance screen, select Show Member Worksheet and click the Create Entries button.
- View the Allocation section. The current year profit/(loss) and income tax expense allocation will show for the Create Entries period.
- Below the Allocation section, you will see each member of the fund and their respective accounts. The profit/(loss) and tax allocation will show for each member account. These fields can be adjusted; however adjusted amounts must be equal to 100% of the current total profit/(loss) and tax allocations.
When using the Member Allocation Worksheet you will have the ability to process mathematical calculations in all the editable allocation fields. -
Once you have completed your allocation adjustments of the profit/(loss) and tax select Continue Create Entries to proceed.
What allocation method does SF360 use by default?
Simple Fund 360 completes the profit/(loss) and tax allocation for the current year based on the daily weighted average balance.
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