The Fit To Cash functionality covers the following foreign transactions:
- Listed Security Acquisition
- Unlisted Security Acquisition
- Listed Security Disposal
- Unlisted Security Disposal
- Capital Return
- Foreign Income
- Foreign Expenses
The Fit To Cash For Foreign Transactions can still be applied even if the difference between the cash and business event are within a 50 cent range.
A foreign security was acquired on 01/01/2015 for USD 245.34. Based on the prevailing exchange rate on this date, the AUD equivalent is $299.12.
Navigate to Fund Level > Transactions > Match Transactions
On the match transaction screen, it shows the cash paid amount of $300.00 and the security acquisition event amount of $299.12.
- To match the transactions, tick the boxes found next to them
- Click on Fit to Cash
Once you click the Fit to Cash button, Class will automatically adjust the exchange rate used for the business event to have the Australian dollar equivalent match the cash amount in the bank account.
This match will be automatically approved, and be removed from the Match Transactions screen.
Also, AUD equivalent total amount will be fitted to cash