Calculate Profit/Loss feature in Simple Invest is similar to Create Entries in Simple Fund 360. The main difference is that investments will NOT get revalued during the Profit/Loss Allocation process.
For Individuals and Companies, Profit/Loss allocation will NOT be automatically finalised via Calculate Profit/Loss in Simple Invest. The system will alert users when unallocated profit/loss is detected and users will need to process Profit/Loss Allocation Journal manually to distribute profit/loss.
Please check articles on how to allocate profit for Individuals and Companies and how to allocate loss for Individuals and Companies.
For Trusts, upon filling in the distribution details. the system will process the profit distribution journals automatically. Please check Distribute Profit for Trust.
|Navigate to Compliance from the Main toolbar|
|Select Period Compliance|
1. Select Distribute Accounting Profit for the selected Entry Period.
Note Entry Period: You will not be able to change the Start Date/End Date as it is an annual calculation. The period will default to the Current Financial Year.
2. The system will calculate and display the Unallocated Profit(Loss) if any. Users need to select Create Profit/(Loss) Allocation Journal to manually allocate the profit or loss before closing period.