Issue
There is a negative Tax Deferred amount on the Annual Tax Statement, how do I process this in the Distribution - Tax Statement event?
Background
Class doesn't allow a negative Tax Deferred Amount in the Distribution - Tax Statement event.
This issue can be resolved by using the following steps:
Step 1: Process a Capital Call event
Step 2: Process a Distribution - Cash event
Step 3: Match off Business Events
Step 4: Process the Distribution - Tax Statement event
Resolution
Process a Capital Call event
This is to top up the cost base of the investment which is also the affect of the negative tax deferred.
Navigate to Fund Level > Transactions > Investment - Corporate Action > Capital call
- Create the business event with the amount of the negative tax deferred as at 30 June xxxx
Process a Distribution - Cash event
The purpose is to reconcile the Distribution - Tax Statement.
Navigate to Fund Level > Transactions > Fund Income > Distribution - Cash
- Create the business event with the amount of the negative tax deferred as at 30 June xxxx
Match off Business Events
Navigate to Fund Level > Transactions > Match Transactions
- Match off the Capital Call event and the Distribution - Cash Event
Process the Distribution - Tax Statement event
- Process the Distribution - Tax Statement event without the negative tax-deferred adjustment - it will be consistent with the distribution cash event processed in Step 2.