Support Query
Viewing the balance sheet/statement of financial position, an amount displays as "profit/loss not yet allocated to member." What is causing this amount to appear?
Solution
Statement of Financial Position is Out of Balance.
When the Statement of Financial Position does not balance, this will cause the "Profit/Loss not yet allocated to member" to appear.
We recommend resolving the imbalance first using the article below and if the warning persists, continue with the instructions in this article.
An amount appearing as profit/loss not yet allocated to members could be a result of a transaction input after completion of the last create entries for the year; amounts still outstanding in clearing accounts; or the editing of a migration system journal. If one of these scenarios below does not resolve your error, please contact BGL Support by Logging a Support Call.
Review System Start Date
Ensure the System Start Date has been input. The System Start Date is the date the fund became active in Simple Fund 360 (the first active financial year of transaction processing in Simple Fund 360). This will ensure that comparative journals input will not be double counted in profit and loss calculations.
Review member start and end date
Review member start and end date in The Member List. If the start date has been input incorrectly as a future date, the profit/loss will not be allocated.
If the start/end date is changed you will need to re-create entries to allocate profit/loss. Refer to The Create Entries Process.
Transaction input after last Create Entries
Any unallocated amounts may be a result of transactions being input into the ledger after the last Create Entries for the financial year has been completed. Any transactions input after the last create entries date will not be accounted for in SF360's profit/loss calculations.
To troubleshoot this scenario, re-create entries and prepare the balance sheet/statement of financial position. See Create Entries for instructions.
Suspense Accounts not cleared
The issue could be caused by the fund's clearing accounts not being equal to 0. During the Create Entries process, warnings will appear below in red indicating transactions are not yet fully allocated. Refer to Transaction Matching for steps on how to match outstanding transactions.
Any amounts remaining in clearing accounts will need to be allocated to the correct accounts. Refer to Transaction Matching for instructions.
Migration Journals
Migration System Journals are automatic journals that occur during the Migration process and should not be edited.
If a user has either edited or re-saved an existing migration journal Simple Fund 360 will treat the transaction as a current year transaction causing the imbalance to occur. BGL Support will be able to revert the journal to it's original status. Please Log a Support Call for assistance.
If the profit/loss amount is still not being allocated to the member accounts, please Log a Support Call for assistance.