Allocating distributions from suspense (Pro version)

Users on the Pro version and above are able to allocate suspense entries through a more contemporary, tabulated interface designed to improve workflow.

Once you have imported your bank data:

• Choose Suspense Allocation from the Transactions menu (Pro features)
• You will then see the Allocate Suspense Entries screen

From the Allocate Suspense Entries you will see a list of transactions you will need to allocate.

The following example relates to dealing with Unit Trust or Managed Fund income.

In the relevant row, you need to choose the Edit button against that Income transaction

You will see the following screen

• On the above Edit Record we have left the Member Account as Fund as the VAS ETF is a fund asset
• When the screen first appears, the Account will be pre-selected as 2-9999 – Bank Clearing Suspense Unallocated
• To change the Account, choose the Right down arrow and a list of alternative options will display.  You then choose the most appropriate option.  In our example, we have selected the 4-1050 – Trust Distributions.  If it is a Managed Fund, then you would select 4-1090 – Income – Managed Funds
• Choose In – Distribution as the Transaction Type
• Choose the correct Unit Trust or Managed Fund, which in this case is VAS
• If required, you can change the Description to something more meaningful
• Once you have chosen the Account, you then choose UPDATE
• You will now see the Allocate Suspense Entries screen again.  You can then choose the next transaction to allocate

Note:

It is extremely important that you always select the correct Unit Trust or Managed Fund.