This article guides you through the process of how to allocate transactions that appear in the Match Transaction Screen including:

• Cash Transactions & Match to new
• Fit to Cash
• Fit to Tax
• Custom Holding Account Transactions

You should always try to match transactions using one of the automation tools available in Class. Automatch, Generate Income or Run Transaction Rules

Cash Transactions & Match to New 

Navigate to Fund Level > Match Transactions

1. To classify a transaction click on the Menu  icon
2. Click on Match To New
3. Click on one of the categories such as Fund Income to expand a sub menu for that category
4. Select the relevant sub-menu item. A screen will open where you can complete additional data entry that may be required and then click Submit
   

Fit to Cash

The Fit To Cash function allows you to match a business event to a cash event when the amount is different by up to $1.00. This functionality is generally used for distributions paid by managed funds where small differences can arise between the declared distributions and actual distribution paid due to rounding differences. 

For the Fit To Cash button to appear the following conditions will need to be met:

• Income event relates to an Australian investment (not foreign)
• Income received in an Australian bank account
• Income event was created either through the generate income button or automated or manual feeds

Once the income is generated select the cash and business event and Fit To Cash will appear next to the clear button if the difference is $1.00 or less.

The business event will be automatically adjusted to equal the amount of cash received.

Fit to Tax

The Fit To Tax function allows you to match a business event to a cash event when the difference relates to withholding tax.

For the Fit To Tax button to appear the following conditions will need to be met:

• Income event relates to a foreign investment
• Income received in a foreign bank account
• The amount is within 50 cents of the amount after either 15% or 30% withholding tax has been deducted

Once the income is generated select the cash and business event and Fit To Cash will appear next to the clear button if the difference is 50 cents or less and the withholding is 15% or 30%.

The business event will be automatically adjusted the withholding tax.

Custom Holding Account Transactions

Navigate to Fund Level > Match Transactions

Custom Holding account transactions are treated similar to cash transactions. You must activate a Custom Holding account before you can match off transactions but you can match a transaction and create the Custom Holding account at the same time.

1. Click on the Menu  icon
2. Click Match To New
3. Click on Custom Holding Account > Transaction.
4. Select the custom holding account from the dropdown menu.  If the Custom Holding Account hasn't yet been created, you can use the quick add function to create the new Custom Holding Account on this screen.
   
   

What's Next?

Learn how to process a Tax Payment or Tax Refund