Pre-requisite:

 

Steps:

  1. From the menu screen, go to Patronage > Equity. Equity screen will show.
  2. Select an equity record to transfer from the Equity Details grid.
  3. Click Transfer To > Stock. Transfer Instruments screen will show
  4. Enter details to required fields:
    1. Transfer Type – Transfer Equity to Stock (read-only)
    2. Transfer Date – defaulted to date today (read-only)
    3. Transfer No – created on Save (read-only)
    4. Description
    5. Grid Details:
      1. Transferor – source of the customer equity to be transferred (read-only if pre-selected from Equity screen)
      2. Fiscal Year – fiscal year of the source equity (read-only if pre-selected from Equity screen)
      3. Equity Type – equity type of the source equity (read-only if pre-selected from Equity screen)
      4. Refund Type – refund type of the source equity (read-only if pre-selected from Equity screen)
      5. Qty Available – quantity available for transfer (read-only)
      6. Stock Name – the stock classification to use
      7. Certificate No – combination of characters. Should be unique. Will generate an input if left blank upon saving.
      8. Issue Date – date of the stock will be issued.
      9. Stock Status
        1. Voting
        2. Non-Voting
        3. Other
      10. Par Value – par value of the selected stock name
      11. Qty Transferred – Qty. Available x Transfer % = Quantity to Transfer (read-only)
  5. Click Save.
  6. If saved successfully, click Post button to create the stock.
  7. Go to Stock to check the created stock.

*Important Notes:

  • You can check the GL entries by pressing the Post Preview located at the toolbar of the screen.
  • Unposting the Transfer Instrument record will reverse the changes in both, deleting the stock issued and accumulate back the equity. GL Entries will be reversed as well.
  • If the issued stock is already posted, unposting of the transfer instrument is not allowed.
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