Transfer of Contributions and Investments between Memberships

Purpose

The accounting activities in the table below must be created.

A journal must be captured for each income type (ECS, RCS, etc.) to transfer the contributions out of the original membership using the accounting activity MEMCONTRFOUT.

A journal must be captured for each income type (ECS, RCS, etc.) to transfer the contributions into the new membership using the accounting activity MEMCONTRFIN.

If the gross contribution amount is transferred, then a journal must be captured for each cost income type (GLA, ADM, etc.) to transfer the costs out of the original membership using the accounting activity MEMDEDTRFOUT.

If the gross contribution amount is transferred, then a journal must be captured for each cost income type (GLA, ADM, etc.) to transfer the costs into the new membership using the accounting activity MEMDEDTRFIN.

A journal must be captured for each investment portfolio and income type to transfer the investments from the original membership using the accounting activity INVMEMUTTRFO. The journal must be captured with the number of units and a monetary amount equal to the book value i.e. the amount invested and not the market value.

A journal must be captured for each investment portfolio and income type to transfer the investments from the original membership.  This can be done in two ways:

·         The number of units and the book value can be captured, in which case the INVMEMUTTRFI accounting activity must be used.

·         A journal can be captured for each month using the transaction date of the original transactions using the INVMEMTRFI accounting activity, in which case the number of units will be calculated by the unitization process.

Unitised

*Existing BT Types.

Non-unitised

*Existing BT Type.