If you want to set up and process admin fees and distributions based on trailing quarters using historical data, quarter ending values (QEVs) can be imported to your CommunitySuite site. This import does not impact general ledger; instead, it populates a separate table where the fund asset
balances at the end of each quarter are held.
QEVs are the asset balances that the funds hold in bank and investment accounts. Those are different
from fund balances in CommunitySuite which reflect assets minus liabilities, such as pending grant payments. The most typical use cases for importing QEVs are admin fees and distributions. Admin fees are based on bank and investment account balances if Use Average Trailing Quarters Balance is selected. Distributions can optionally be based on bank and investment asset balances. This is the default setting for distribution types. A fund also needs a distribution type assigned to track QEVs; this can be zero percent. The fund will then show the last quarter-end balance in the Distributions section of the settings tab of the fund.
Going forward, CommunitySuite will calculate and track QEV automatically and separately from fund balances. The difference can be viewed in QEV by Quarter and Fund Balance by Quarter on the Audit Balances Report.
Template Instructions
- Download the Quarter Ending Value Template located at the bottom of this article.
- The spreadsheet will download as a Microsoft Excel spreadsheet to your computer.
- Enter fund Short Names in the fund_code column.
- The import template file has a column “fund_code.” These are the fund Short Names in CommunitySuite which will typically coincide with your legacy system fund IDs.
- Add a column for each quarter ending date (3/31/YYYY, 06/30/YYYY, 9/30/YYYY, 12/31/YYYY) for all quarters that you want to track in CommunitySuite.
- Enter each fund's asset balances held in bank and investment accounts for each quarter.
- A blank cell and zero value cell will be treated differently when calculating admin fees or distributions. If a quarter ending value cell is blank with no value entered, this quarter is not counted as a trailing quarter. A zero in a quarter ending value cell will count as a zero balance.
Once completed, provide the template to your Foundant Fund Accounting contact. They will
upload the completed template to your Sandbox site. After you have tested, validated, and confirmed the upload, Foundant will upload the completed template to your Live site.