A transaction related to an investment account has been locked. How can I edit it or delete the transaction?
A transaction will be locked, if Simple Fund 360 has detected future CGT event transactions to the investment after its transaction date.
To unlock, please remove or reallocate Demergers, Disposals, Tax Deferred Distributions and/or other relevant CGT events after this transaction date posted to the same investment account.
These include transactions such as:
- Cost base adjustments after the locked transaction.
- Disposals after the locked transaction.
- Demergers after the locked transaction.
- Deferred Tax entry to the income accounts after the locked transaction.
- Tax-Free entry to the income accounts after the locked transaction.
- AMIT cost adjustments to the income accounts after the locked transaction.
Check the CGT Register to locate the future CGT transactions in the general ledger which relate to the investment parcel of the locked transaction.
Use the Transaction Filter to narrow the Transaction List by the investment account to assist you in locating future transactions. Before using the filter, users can also tick the System Journal checkbox to include system-generated journals, such as system revaluations.
Method 2. Update the subsequent transactions by leaving units as blank.
Select the transaction on 10/05 to edit and remove the units. This allows the initial transaction to be unlocked. Users can thus update the first transaction dated 10/04. Once completed, users can then edit the subsequent disposal transaction by simply adding back the relevant units. This method saves users the trouble of re-entering the whole transaction.
2. Subsequent Tax Components to an income account
A fund purchased 100 units of a listed trust and later received a distribution of $1,000, out of which $150 was Tax-free and $200 was Tax-deferred.
This is noted on the CGT Register as per below:
The system will then lock the initial purchase transaction of the listed trust.
To unlock the transaction, users need to delete the distribution transaction or remove the tax components from the distribution. These transactions can be re-entered once the locked transaction has been updated.