I need to reverse the Afterpay corporate action

krystal clayton

• 07 May 2023 06:30

I have proceed the Afterpay take over by Block Inc incorrectly. When I try and go in to delete to redo it is greyed out. 

 

How do I reverse or delete this? 

1

• 

  Luke Kenealy

  Community moderator

  • 09 May 2023 00:25

  

  Hi Krystal,

  Generally speaking, when a journal is greyed out, this means that there is a future CGT event locking this transaction - these events can be a disposal or an income with tax-deferred components for example.

  What you will need to do before you can delete the corporate action is remove that CGT event temporarily i.e remove units from the disposal journal. The below article has instructions on this as well which you may find helpful:

  https://sf360.zendesk.com/hc/en-au/articles/360018150392 

  Regards, Luke

  Support Team Leader

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• 

  Richard Freedman

  • 05 July 2023 05:43
  • Edited

  Its a right royal pain in the butt, Luke.

  Its almost never caused by anything the user has a actually done. Rather the user is the unwitting victim of the 'Automation' of future transaction(s) that has/have been done due to the various feeds. (This could easily be in the year the user is working on or more frustratingly the following year)

  Here is an idea that will help us all out;

  Provide a button, within the transaction that cannot be changed, that will undo future transactions that are locking the transaction and then once the changes to the now unlocked transaction are done the system then re-does those future offending transactions.

  SF360 already does a somewhat related process for EOY tax component entries on already disposed of investments.

  edit: Actually now that I think about it no need to provide a button, just seamlessly undo what needs to be undone in order to make the required change and then redo once our manual change (edit or delete) has been made. No actual need to even get us involved in the background processes to facilitate the edit.

  easy as ;-)

   

   

  2
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  Vicki Carlisle

  • 02 December 2024 23:29

  The linked article is no longer available as at 03/12/2024, can we please have an updated link?

  0
• 

  Christopher Banks

  • 02 December 2024 23:46

  Hi Vicki,
  
  Here is the new link
  Unable to edit a locked transaction due to future CGT events?

  If there are any further questions please reply to let me know so I may assist further.

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  Lech Turno

  • 06 January 2025 09:04
  • Edited

  I would agree with Richard's comment:  there is already a great number of "automations" within SF360 and SI360 that MIGHT and DO create more problems than they solve. Richard mention a few examples of those.

  I think that the current "solution" as mentioned by Luke and Chris whilst "do-able" is rather crude. 

  I do accept that to fully automate the process as per Richard's suggestions might be dangerous if done without some queries/interactions with the user, since, in some cases, the user might have some material decisions to make and a "totally blind automation" might lead to unexpected/undesirable effects/outcomes.  However isn't it where there would be a REAL benefit of automation: handling potentially complex, laborious, but predictable situations in a structured, accurate and disciplined way that we, humans, might not be particularly good at?

  Cheers

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