Issue

When the fund is set up in Class, only one holding account was created for the listed security eg BHP. However, the fund holds BHP under different Holder Identification Numbers (HIN). How do I split this one holding account into two? 

Resolution

The resolution of this issue depends upon whether or not this is a First-year fund.

Scenario 1: First-year fund

Scenario 2: Previous Financial Year closed

First-year fund

Navigate to Fund Level > Investments > Investment Account

1. Create a new holding account for BHP

Holding accounts can use the same security issue code and description, but cannot use the same holding code.

Navigate to Fund Level > Fund > Load Opening Balance

1. Take up the purchase parcel for the newly setup BHP holding account
2. Remove the purchase parcel from the previous BHP holding account

Previous Financial Year closed

Navigate to Fund Level > Investments > Investment Account

1. Create a new holding account for BHP

Navigate to Fund Level > Transactions > Investment - sell > Listed Security disposal

1. Sell the parcel that relates to the new BHP holding account at cost

This will remove the purchased parcel from the previous BHP holding account.

Navigate to Fund Level > Periodic Processing > Maintain parcel matches

1. Search for BHP
2. Choose the previous holding account
3. Match the disposal parcel to the parcels related to the new BHP holding account

This will ensure no capital gain/loss is generated. 

In order to take up the original CGT date for the new BHP holding account, use the Excel Transaction Loader.

Refer to our User Guide for detailed steps on using the Portfolio Tab. 

In the Excel Transaction Loader the holding reference account column will be the investment code e.g. BHP_1 and the Code column will be security issue code e.g. BHP.