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How to add historical unit transactions

To manage unit transactions such as member subscriptions, withdrawals or historical unit transactions use the UNIT VALUATION SYSTEM link within the CLUB section of the timetotrade website, as illustrated in the following screen shot:

Investment club 32.png

This will take you through to the "Unit Value System" page. From here you can manage all of your member subscriptions and withdrawals.

Unit valuation 2.png

In the following step-by-step example, we will consider how historic unit transactions can be entered into the timetotrade Unit Valuation System:

Example One: "Snap-Shot"
Fiona Fibonacci, Mo Momentum and Terry Technical have been members of The Demo Investment Club for the last five years. Rather than enter each and every of the unit transactions made over the last five years, we will make a single "snap-shot" entry for each member that reflects the total number of units they own at a specified date and the total subscriptions paid for those units. This is useful if you want to start your accounts on a specified date, without having to add all of the historical unit transactions that occurred before that specified date. In this example we are going to assume that the club members own the following units as at 1 February 2010:

  • Fiona Fibonacci - owns 2,250 units purchased at a cost of £2,000
  • Mo Momentum - owns 1,972 units purchased at a cost of £1,850
  • Terry Technical - owns 3,400 units purchased at a cost of £3,500

Firstly, click the "add subscriptions" button:

Unit valuation1.png

Rather than enter every single subscription and withdrawal transaction that occured over the previous 5 years, we are going to make single entries that reflect the total number of units owned and the total amount paid in to the club by each member as of the 1 February 2010.

To add the unit transactions, you need to complete the steps illustrated in the screen shot below:

Firstly you need to specify the unit valuation date. In this example, the specific date we are starting the accounts from will be 1 Feb 2010, so change the unit valuation date to 1 Feb 2010 and click the "set" button.

Unit valuation 3.png

  1. Once you have set your unit valuation date you can complete the unit transaction details, as follows:
  2. Use the tick box to indicate which members you are applying the subscriptions to. In this case we are applying subscriptions to the members Fiona, Mo and Terry. Subscriptions will not be applied to those members where the tick box is empty.
  3. The "date subscription received" field will be automatically pre-populated with the specified unit valuation date.
  4. If this is the first time you are adding unit transactions, the "unit value field" will show the unit value as 1. Leave this value as is at this stage - we will amend the unit value later - see below.
  5. Where applicable enter the total value of the subscriptions paid up to the specified date (less withdrawals) in the 'amount' field for each member. In this example, Fiona has paid £2,000 for her units, therefore the value in the amount field should be entered as '2000'. Mo has paid £1,850 and Terry £3,500, so add 1850 and 3500 in the 'amount' fields respecitively.
  6. You now need to add the unit transactions, by clicking on the 'add subscriptions' button.

When you have no further unit transactions to add, click on the 'done' button.

The 'Club Members' section now shows that the members Fiona, Mo and Terry have paid in £2000, £1850 and £3500 respectively. However, at this stage the number of units owned by each member is incorrect. To amend this, click on the "view transactions" button.

Unit valuation 4.png

You will now be able to see a list of 'Historical Unit Transactions'. Click on the "add/edit" button, as shown:

Unit valuation 5.png

You can now proceed to amend each member's subscription entry in turn. Click on the "edit" button to the right hand side of the transaction entry:

Unit valuation 6.png

Input the correct number of units held at the "specified" date. In this instance, we will amend the number of units held by Fiona Fibonacci from 2000 to 2250.

Unit valuation 7.png

Click the "save" button.

You can see in the screen-shot below that Fiona now owns the correct number of units (2250 units) and that she has paid a total £2,000. Proceed to edit each member subscription entry in turn.

Unit valuation 8.png

When you have corrected the number of units held by each member, click the "done" button:

Unit valuation 9.png

The number of units has been amended accordingly:

Unit valuation 10.png

And the summary section shows that each member has the correct number of units and correct amounts paid:

  • Fiona Fibonacci - owns 2,250 units purchased at a cost of £2,000
  • Mo Momentum - owns 1,972 units purchased at a cost of £1,850
  • Terry Technical - owns 3,400 units purchased at a cost of £3,500

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