Issue

The fund receives a loss distribution from a partnership without cash. How do I process this in Class?

Resolution

To resolve this issue:

Step 1: Add New Income Expense Type

Step 2: Create the Business Event

Step 3: Make the Income Expense Type Tax Assessable "No"

Step 4: Create a positive General Investment Income Event

Step 5: Match Off the two Business Events.

Step 1: Add New Income Expense Type

Navigate to Business level > Settings > Investment Income 

1. Create a new investment income type with Tax Assessable as "Yes"
   
   

Step 2: Create the Business Event

Navigate to Fund Level > Transactions > Fund Income > General Investment income

1. Process the business event with a negative amount
   
   

Step 3: Add New Income Expense Type: Partnership Share of Loss (Non-Assessable) 

Navigate to Business level > Settings > Investment Income 

1. Add a new Income Expense Type: Partnership Share of Loss - Non-Assessable
2. From the Maintain Income Expense Type screen, select "No" to Tax Assessable Option
3. Click on Save

Step 4: Create a positive General Investment Income Event

Navigate to Fund Level > Transactions > Fund Income > General Investment income

1. Select the "Partnership Share of Loss - Non-Assessable" income type from the Income Type drop-down list
2. Enter the same amount into the Gross payment field as a positive
   
   

Step 5: Match off the two Business Events