Issue

In 2016 Scentre Group Tax Statement - SCG taxable distribution is higher than the cash/accounting distribution. How do I process this in Class to get rid of the Exception Error 'The total interim Distributions for Scenter Group do not equal the Final Distribution for 2015-16: Financial Year. The Final Distributions exceed the Interim Distribution by $XX.XX?'

Background

Extract from the SCG 2016 tax guide, 'for the 2016 income year each security holder’s proportionate share of the taxable income of each of the Trusts is higher than their cash distributions received from each of the Trusts. This arises due to the capital gains realised by the Trusts on the sale of four Australian shopping centres (at Figtree, North Rocks, Strathpine and Warrawong) and the repatriation of proceeds following the joint venture of 5 shopping centres in New Zealand'.

Resolution

To take up the difference in Class,  process the difference in the Distribution - Tax Statement as a negative amount in the Tax Exempted Amounts field. This ensures the distribution taxable amount (for tax purpose) will be reported slightly higher than the distribution cash amount (for account purpose). 

Example