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  • Run Revenue Share

    CommunitySuite allows foundations who manage funds in investment pools to share investment revenue, losses, and fees on a monthly, quarterly and yearly basis.

    Revenue share can be run for both statement vouchers and/or traditional vouchers. Follow the steps below and select the correct path depending on whether you're running revenue share for statement vouchers or traditional vouchers.

    • Revenue share cannot be run unless there are statement vouchers and/or traditional vouchers (to be paid from the Revenue Share Holding Fund) for the dates that you select.
    • 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 (8) decimal places, so 5,000 would be calculated as 5000.00000000.
    • Balances sometimes need to be rounded because interest calculations often result in fractions of a penny. These fractions of a penny are deposited into the fund with the most assets. 
    1. Select Revenue Share from the Home page.

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    2. Click Create.

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    3. Select a Date Range.

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    4. Edit the post date, enter a description, and select a date range for when the fund percentage should be calculated, then click Next.

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    5. At this time, the revenue share job will populate in the Recent Revenue Share Background Jobs window.

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      Refresh your web browser to check if the background job has finished. It may take a few minutes for the job to finish.
    6. Once the job has finished, the individual revenue share entries will display in the Revenue Share window. The process for posting these entries will differ, depending on whether the entry is for a statement voucher or a traditional voucher. Statement vouchers will display an account number and name (e.g. 1100-Investment Asset - Charles Schwab (A); while traditional vouchers will display the name of the entity / vendor (e.g. Blake Mitchell).

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      If all revenue share entries that you're posting are for statement vouchers, you can click Post All. However, if you have both traditional vouchers and statement vouchers to post, clicking Post All will give you an error message.

    Post Revenue Share for Statement Vouchers

    1. Click the ID of the revenue share entry.

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    2. Click Post.

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    Post Revenue Share for Traditional Vouchers

    1. Click the ID of the revenue share entry.

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    2. Click Set Share Details.

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    3. Check the box(es) next to each account that you want to use to calculate fund sharing percentages, then click Next.

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  • Revenue Share Parent*

    Set up your system to modify Revenue Share options by assigning a Revenue Share Parent to a Fund. This is another way to share gains and losses in your managed Funds.

    In Accounts, Revenue Share Parent allows you to link an account to an investment pool for Revenue Share calculations. When you set a Revenue Share Parent the system will update all Funds in the Account with the selected investment asset.

    • Go to Accounts
    • Select the hyperlinked Account ID number, ex. 1001
    • In the Rev Share Parent area, choose [set] 

    • Pick the Investment Account from possible Rev Share Parent Asset Accounts

    You will see a list of all the Funds that are housed in that Account. You will see the new Account they will be associated with under Swap To. The system will ask if you wish to move these Funds into the new Asset Account for the purposes of running the revenue share operation.

    In order to link an account to another account for revenue sharing purposes, the system "swaps" these balances to the parent account, and also potentially changes the investment or checking account for those funds to the parent account as well.

    To approve this change you will need to select [Yes, swap balances and make fund updates as needed] at the bottom of the page

    • The system will swap out the Fund balances to the new account 

    The account record will now reflect the change in the Rev Share Parent area.

    NOTE: This action cannot be readily undone so it is advisable to review your goals with your CSM before moving forward.

    Review this video to see how to set up an Account with a Revenue Share Parent.

  • Re-Run Revenue Share*

    If Statement Vouchers or transactions were edited, you will need to re-run the Revenue Share process.

    • Return to Revenue Share from the Home page
    • Select Create
    • Choose the date range
    • If the numbers look accurate, select Next
    • The transaction will be unposted, select the Revenue Share ID number (eg. 1049)
    • Review the allocations and the Funds within the Account
    • If the adjustments and new allocations are accurate, choose the red Post from the left side menu to re-post the Revenue Share

    The system will alert you that the process was run.

    NOTE: When you complete any Revenue Share process, there may be funds that may have been in the investment pool, even briefly. Revenue share is calculated using an average daily balance, so even though the money was only in the investment pool for one day, the revenue share process will allocate part of the investment pool income or (loss) to any Fund that was in that Investment Pool Account for any length of time.

  • Adjustments & Revenue Share

    It is possible to undo and adjust revenue shares, however, we strongly recommend consulting an accountant or your community foundation before making any of these changes especially if you are back dating to a period where the books are closed. Your books have to be open to adjust statement vouchers. To make an adjustment to your statement, recalculate the revenue share and re-run the revenue share process to reallocate the adjusted balances to your funds.

    1. Navigate to the Revenue Share page.Revenue_Share_1.png

    2. Click Bulk Unpost in the left-side menu. It is best practice to click Bulk Unpost even if you only want to adjust one statement.Rev_Share_X.png

    3. Click the Revenue Share Date.rev_share_1.png

    4. Click Delete Unposted in the left-side menu.Rev_Share_Z.png

    5. Click [Yes].
    6. Navigate to the Statement Voucher that you would like to adjust and click Unpost in the left-side menu. If you need to adjust more than one statement voucher you will have to edit each individually by following the same process.Revenue_Share_4.png

    7. Make the adjustment to the voucher by clicking Edit in the left-side menu.Revenue_Share_5.png

    8. After editing the item you would like to adjust, click Save. Revenue_Share_6.png

    9. Click Post in the left-side menu. Revenue_Share_7.png

    10. Navigate back to the Revenue Share page and click Create in the left-side menu.Revenue_Share_8.png

    11. Click the Date Range.Revenue_Share_9.png

    12. Click Next.Revenue_Share_10.png
    13. Click Post All in the left-side menu.Revenue_Share_11.png

     

     

     

     

  • Unposted Expenses*

    With some voucher expenses, you need to tell the system how to spread out those costs.

    • Go to the Revenue Share section and look for Unposted items
    • Select the ID number of the item that has a red Unposted in the Transaction ID column

    • If you click the ID number (eg. 1044) of the unposted item you will notice there is a red option to "Set Share Details" on the left side of your screen
    • Click Set Share Details
    • Indicate which account to look at to determine which funds should share in this cost.
      • For example, if these expenses were only for funds in your Long Term Investment group, check off the Long Term Investment group account. Once the system has this information the revenue share process will spread out the costs as designated.

    Once complete, you can choose the red Post from the left side of your screen to share all the gains, losses and fees among the Funds held in the Account.

  • Revenue Share Overview*

    CommunitySuite allows foundations who manage funds in investment pools to share investment revenue, losses, and fees on a monthly, quarterly and yearly basis.

    Share the gains, losses and/or fees from your investment or banking account with all of the Funds that are held within a pool.

    • Set up your investment accounts in Accounts (this is usually completed during your system implementation). To run a Revenue Share those accounts will need the following
      • The Name of the Account
      • Vendor, eg. Schwab
      • Manage Cash to be turned on (for Cash Balancing)

    All gains, losses, and fees incurred will need to be entered as a Statement Voucher in the Revenue Share Holding Fund

    Information needed to complete a Statement Voucher include these items straight from your monthly or quarterly statements:

    • Starting balance
    • Ending balance
    • Fees
    • Gains & Losses-Unrealized (if applicable)
    • Gains & Losses-Realized (if applicable)
    • Interest
    • Dividends (if applicable)
    • Transfers in & out

    Once a Statement Voucher has been created for each investment account - you can begin the Revenue Share process.

    Note: Percent totals are calculated out eight (8) decimal places.