Distributions can be processed according to a distribution type and the distribution interval set on funds. If the distribution start date set on the fund is beyond the post date, the fund will not be processed.
Setting a distribution interval on funds does not limit when distributions can be calculated, but it does limit when they can be posted. When a distribution interval is incorrect, it will also limit the funds from showing in a calculation that is outside of the interval. You cannot post until the first day of the new period, when a distribution interval is applied. For example, if the distribution interval is set to yearly, you cannot post until the first day of the next fiscal year. If it is set to monthly, you cannot post until the first day of the next month. If it is set to semi-annual, you cannot post until January 1st and July 1st.
Distribution intervals will also limit funds from not showing in a calculation that is outside of the interval.
When monthly, quarterly, or semi-annual distribution intervals are set, the distribution amount is calculated based upon the selected interval. For example, if the annual distribution percentage is 5% and the distribution interval is set to monthly, the system will charge 1/12 of 5% for the distribution percentage each month.
- Navigate to the Distributions page and click Create in the left-side menu.
- Enter the Calculate Date, Post Date, Description, and check the box(es) next to the Distribution Type(s) that you want to include, then click Next.
- The screen advances to a table showing the distributions that will be applied to each fund. These are calculated based on the parameters you set for each distribution type and interval.
- The box next to each fund is checked by default, indicating it should be included in distribution processing.
- Make any changes, and then click Review.
- If needed, uncheck the box next to a Fund to exclude that fund from the distribution.
- If needed, edit amounts in the Distribution column.
- To view the details of each distribution (Spendable Transaction Detail), click a distribution Amount.
- Click Post in the left-side menu.
If your foundation uses the Portal, fund advisors will see the resulting distribution in their spendable balance when they log into the Portal. The fund's spendable balance will be available for granting; however, if the funds remain unused, you can clear the unspent amounts and/or create spendable grants for the fund's beneficiary list.