Issue

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?

Cause

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.

Resolution

Navigate to Fund Level > Fund > Load Opening Balances

1. click on Edit Parcel History next to the foreign cash account that is causing the error.
   
   

Under the Parcels section of the screen:

1. Enter the date as the acquisition date
2. Enter the Quantity as balance in foreign currency at books closed date
3. Enter Book cost as cost in AUD
4. Save
   
   

For further information on other period update errors, refer to Period Update Error Messages: Summary