Reclassify Revenue Share Affected Accounts for a Closed Period

When investment activity has been allocated to an incorrect revenue or expense account and the books for that period are closed, use a correcting statement voucher in CommunitySuite to reclassify the activity. The reclassification is completed by running revenue share after the correcting statement voucher is created.

Who: Finance or accounting teams who manage investment activity and revenue share.

Create a Correcting Statement Voucher

To create a correcting statement voucher, copy the original statement voucher and adjust the line items to reverse the incorrect account allocation.

1. Navigate to the statement voucher that requires the correction.
   • In this example, the books are closed and accounts are reconciled for the period. Rather than reopening the books and unposting the original statement voucher, a correcting statement voucher is used. The screenshot below shows the original statement voucher with a Statement Date of 01/31/2025. 
     
     
      
2. Click Copy in the left-side menu.
   • Copying the statement voucher versus creating a new statement voucher streamlines the correction process.
3. Enter the statement date, adjust the line items needing correction, and then click Save.
   • The statement date must be after the closed period. In this example, the Statement Date is 10/31/2025, after the original statement voucher and closed period of 1/31/2025.
   • Positive numbers should be adjusted to a negative, and negative numbers should be adjusted to a positive.
   • Add a second item with the corrected account number that the amount should be allocated to, a description noting the correction, and a positive amount totaling the amount that is being reclassified.

   • For example, in the image below the correction is for an amount of $500.00. The first line item is a negative $500.00 to denote the amount being reclassified from the incorrect account, and the second line item is a positive $500.00 to denote the amount being reclassified to the correct account.

     • The positive and negative amounts will offset each other, resulting in a zero dollar statement voucher. A zero balance is expected. The correction moves activity between accounts without changing overall values.

     
     
      

4. Click Post in the left-side menu.

Run Revenue Share

Now that the correcting statement voucher has been created, run Revenue Share. Adjust the Fund Percentage Calculation Dates to match the original revenue share, and set the Revenue Share Post Date to the current open period.

To run Revenue Share for a correcting statement voucher:

1. Navigate to the Revenue Share page.
2. Click Create in the left-side menu.
3. Click the Date Range of an open period.
4. Enter a Post Date in the current open period. 
   
   
    
5. Enter a description noting that this revenue share is reclassifying a transaction in a closed period. 
   
    
6. Change the Fund Percentage Calculation Date Range for when the fund percentage should be calculated. It should match the original revenue share job or time period that the adjustment is fixing. 
   
   
    
7. Click Next.
8. Click Post All in the left-side menu.

This process recalculates revenue share as it was in the original period and posts the correction in the current open period, reversing the impact of the incorrect statement voucher entry.

The screenshots below compare the original revenue share on the left with the correcting revenue share on the right.

Reclassified revenue share entries will now show on the correct revenue account.

For general guidance on running revenue share, see Run Revenue Share.