When processing a Distribution Tax Statement in Simple Fund 360, users may notice that distribution amounts do not appear in the appropriate reports after running Create Entries.
This is usually caused by the way the income account is set up and linked within the system.
Why This Happens
For distribution amounts to flow correctly into reports, the income account must be linked to an Investment Account.
Simple Fund 360 relies on this link to correctly identify:
The investment the distribution relates to
The income category
The correct reporting treatment
When the income account is not linked, the system cannot allocate the distribution properly, which prevents it from appearing in the expected reports.
Common Cause
This issue typically occurs when:
A manually created income account (for example, a 23800 account) is used
The account is not linked to an Investment Account
The income account is not the automatically generated account created when setting up the investment
In these cases, the distribution will not flow through correctly after Create Entries.
How to Resolve the Issue
To ensure distributions are reported correctly:
Create the relevant Investment Account in Simple Fund 360.
Use the automatically linked income account that is generated with the investment.
Re-run Create Entries.
This will ensure the distribution amounts are correctly recognised and appear in the appropriate reports.
For more information on linked accounts, see: Linked Accounts