Revenue share functionality allows foundations that manage funds in investment pools to share investment gains, losses, and fees on a monthly, quarterly, and yearly basis.. Revenue share can be run for both statement vouchers and traditional vouchers.
The revenue share feature identifies the funds and their percentage within a specific investment/banking account, then calculates the average daily balance for each day instead of only once or twice per month. The system calculates fund balances out eight decimal places, so $5,000.00 would be calculated as $5,000.00000000.
- Balances are rounded when interest calculations result in fractions of a penny. These fractions of a penny are deposited into the fund with the most assets.
Investment Account Setup
In order to run a revenue share, investment accounts must have an assigned Vendor, and Manage Cash must be enabled.
If individual accounts are being reconciled, then establish an account as a revenue share parent to a fund or group of funds. Revenue share parent allows an account to be linked to multiple investment pools for revenue share calculations. This is recommended when sub-accounts are being used.
Run or Modify Revenue Share
Prior to running revenue share, enter all gains, losses, and fees incurred as a statement voucher in the Z_Revenue Share Holding fund.
It is not required, but is strongly recommended, that accounts be reconciled prior to running revenue share.