Introduction
In this article, we will guide you through Investments & Property Processing. We recommend you complete all the Key Learning Modules first and also utilise the list on our Key learning Sections & Articles.
- Best Practice Processes
- Key Learning Modules
- Key learning Sections & Articles
- More Resources
- What's Next?
Best Practice Processes
When it comes to understanding property on Class, first it is important to understand that Class processes purchases and sales in the same way that you would ordinarily buy or sell a property, in two transactions a deposit and a settlement event.
For depreciation, it is best practice to set up all Plant & Equipment as part of the property (not as separate investments). This will make it much easier when you need to process a disposal event as Class will automate the capital gains calculation for you. For properties where you have a Quantity Surveyors report, it is recommended to set up three assets in the depreciation schedule. A non-depreciable component, a Div 40 component and Div 43.
For income and expenses we suggest setting up transactions rules, this includes situations where the entity receives net rent from a managing agent. Setting up a transaction rule for net rent and processing a rental statement for the expense once a quarter (for GST entities) or annually (all other entities) is a much quicker way of processing these transactions.
Key Learning Modules
The Key learning Modules for Property Process & Investment Processing are listed in the below table and what you learn.
You need to complete the Class Fundamentals Course in order to progress to the below-listed course.
| Module Name | What this Module Covers |
|---|---|
| Managing your Investments |
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| Managing your Property Investments |
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Key learning Sections & Articles
Links to recommended articles for this section
Property Processing
| Article | What's in this article |
|---|---|
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These articles explain how to process both residential and commercial property deposit and settlement events for a purchase or sale. These should be followed where the deposit event and settlement event occur in the same financial year |
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How to process a property purchase across Financial Years How do I treat a property disposal across multiple financial years? |
These two articles are also for purchase and sale of the property but it is specifically for when the deposit and settlement events occur in different financial years. |
| This article explains how to record a rental statement in Class including both the income and expenses. | |
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This article explains how to set up a depreciation worksheet for the property |
| This article explains the different options for revaluing property including automated valuations for residential properties. |
Investment Processing
| Article | What's in this article |
|---|---|
| These articles explain the different stages of the lifecycle of a Listed Security from creating the security, purchasing units and disposing of them. | |
| These articles explain the different stages of the lifecycle of an unlisted Security from creating the security, purchasing units and disposing of them. | |
| Browse Investments | This article explains the key screen for managing all investments including the colour coding of the quantity to speed up reconciliation. |
| Corporate Actions Console | This article explains how to use the Corporate Action Console to efficiently process corporate actions for all listed securities. |
| Custom Holding Account | This article explains the different use cases for a Custom Holding Account and how to set one up and process transactions against it. |
More Resources
Webinar: We have the following Webinars to assist you;
- How to load transactions using Excel Transaction Loader
- Processing Property take a look at Processing Property Transactions
- Understanding Custom Holding Accounts How to use Custom Holding Accounts
- Announcements and ways to Process Corporate Actions
Best Practices: Learn More about Best Practice by reviewing the Best Practice Processing article.
What's Next?
Check out the next step 8 - Members and Pension to learn all the steps to getting started with Investments & Property Processing.