Unable to run a period update due to insufficient holding for foreign cash accounts. This issue usually occurs in first-year funds on Class. How to resolve this?
There are two scenarios
Scenario 1. For a non-first-year fund on Class
Refer to another article How to run a period update when the foreign bank account has a negative balance
Scenario 2. For the first-year fund on Class
This issue arises when the opening balances for a foreign bank account have not been completed correctly.
Navigate to Fund Level > Fund > Load Opening Balances
- click on Edit Parcel History next to the foreign cash account that is causing the error.
Under the Parcels section of the screen:
- Enter the date as the acquisition date
- Enter the Quantity as balance in foreign currency at books closed date
- Enter Book cost as cost in AUD
For further information on other period update errors, refer to Period Update Error Messages: Summary