Overview
Transaction Recode will give you the ability to move in bulk, transactions from one account to another at the click of a button.
This will save you a huge amount of time when fixing up an incorrect account recorded in any of the following scenarios:
- Uploading a CSV file
- Migrating a fund
- Manually coding entries
The following investment account recodes are supported:
| From | To |
|---|---|
| Unitised investments | Unitised investments |
|
Unitised investments Non-unitised investments |
Non-unitised investments Term deposits Bank |
| Bank | Term deposit |
| Term deposit | Bank |
Recoding from non-unitised investments to unitised investments is currently not supported.
Unitised to non-unitised
Recoding from unitised to non-unitised investment (including banks and term deposits) will remove all CGT entries and unit balances. This process cannot be reversed.
Information brought across
The following information is brought across when an investment is reclassified:
- All linked accounts to the recoded investment such as dividend accounts (23900) will be allocated during the transfer to their corresponding account;
- Balance history for the investment and linked accounts will be transferred to the changed account (each transaction will be moved as at their transaction date in the ledger); and
Unique security code
To reclassify an investment account, the security code attached to the investment account must be unique to the fund. In addition, only investment accounts attached to one fund can be reclassified currently.
Navigation
| From the Main Toolbar, go to Accounting. |
|
| Select Transaction Recode. |
|
Instructions
- Select Transaction Recode.
-
Investment is selected. In phase 1 only investment account reclassification is available. Move to step 2.
- Select the investment account to reclassify. All linked accounts will appear. Linked accounts will be moved to their corresponding linked account during reclassification.
- Select the new control account range to reclassify the account to.
-
Select Confirm.
Validation Errors
If an investment account has any of the following items affecting it, Simple Fund 360 will not allow the transaction recode to proceed:
- Disposals with capital gains associated with the event
- CGT Relief applied to reset the cost base of the investment
- Corporate actions applied to the investment account
- A summary will appear including the user which actioned the change.
Delete/Reverse a Transaction Recode
Deletion/reversal of a previously completed Transaction Recode is to re-process the recode back to the original account.
In the above example account 77250/TOORAK was reclassified to account 77200/TOORAK.
To reverse, complete a reclassification from 77200/TOORAK to 77250/TOORAK.
Unitised Investment to non-unitised investment
Please note that moving from a unitised investment to a non-unitised investment (including Banks and Term deposits) cannot be reversed.
User Roles
Only the Admin and Employee user roles will be able to access the Transaction Recode function by default.
To enable this for other user roles:
| From the Main Toolbar, go to Settings. |
|
| Select User roles from the list. |
|
Select the role you wish to edit
Toggle the Transaction Recode on
