In this article, we will discuss steps to resolve an out of balance trust entity in HandiLedger.
Incorrect Beneficiary account code range used:
The type of beneficiary in the View, Beneficiary Details window, will determine the account range that you will post to.
Benef'y Loan will post to account range 4000-4099.
Non-Equity (UPE) will post to account range 4000-4099.
Corp Benef'y Equity (UPE) will post to account range 4400-4499.
Corp Benef'y Equity (Sub-trust) will post to account range 4400-4499.
Posting to beneficiary accounts:
For Beneficiary Loan and Non-Equity (UPE) the account codes to use will be in the capital range.
Capital Accounts must be sub accounted e.g. 4000.01, you must not post to any of the control accounts in the Capital Accounts range. e.g. 4000.
For Beneficiaries with a the Corp Beneficiary Equity (UPE) or Corp Beneficiary Equity (Sub Trust) type, the account codes to use will be in the equity range. The equity account ranges from 4400 - 4499 and must be also sub accounted e.g. 4400.01, you must not post to the control accounts such as 4400.
Find the beneficiary account codes and ensure they are in the correct sub-account range.
Go to View, Ledger Entries.
Click on Account at the top of the window to sort by account codes.
Find any incorrect account codes and ensure sub accounts have been added.
Beneficiary years:
Where you have beneficiaries, they must all contain the same amount of financial years (unless a new member was added later).
Go to View, Beneficiaries Details.
Ensure you have all the years set up for each beneficiary listed, even if they received a nil distribution for any particular year.
If you are missing a year for a beneficiary, highlight the member and click Year, New, and type in the missing year, and Save.
If you have any resigned beneficiaries ensure they have been resigned (To resign a beneficiary, highlight the beneficiary and click Resign, OK), please also make sure any beneficiaries have not been deleted or reordered. If you have deleted a beneficiary, click New and type in the beneficiary name then click Year, to add additional years, click New.
Note: The number of sub-accounts in the chart of accounts (Capital or Equity Range) should match the number of beneficiaries that you have in View, beneficiary details.