Issue

How can I record Trust Capital in Class?

Resolution

Class does not have the function for Trust Capital at this stage. 

There are two workarounds available:

1. Create a custom holding account
2. Setup another beneficiary account for it

Create a custom holding account

You can create your own custom equity account and name it Trust Capital.

Custom equity accounts are created by setting up a custom holding account and giving it the GL classification of Equity. You can use this custom holding account to record the trust capital.

To create a custom holding account

Navigate to Fund Level > Investment > Custom Holding Account

For detailed steps refer to our User Guide article, Custom Holding Account

To record the trust capital

Navigate to Fund Level > Transactions > Browse Bank Statements 

1. Select the custom holding account from Bank Account drop-down list
2. Click on +Add
3. Enter a Cash In transaction for the trust capital
4. Save Transaction 

Setup another beneficiary account for it

You can set up a beneficiary account as an organisation and name it Trust Capital. The trust capital can be recorded by using the Equity Transaction function for the beneficiary.

To create a beneficiary account

Navigate to Fund Level > Beneficiaries > Add New Beneficiary > Organisation

To record the trust capital

 Navigate to Fund Level > Transactions > Equity Transactions > Equity Contribution 

1. Select Equity Account as Trust Capital
2. Enter Date
3. Enter Gross Amount
4. Submit