The following video tutorials will guide users on how to allot shares within WealthWorks+ and how to manage the shares, including:

  • Redemptions,
  • Forfeitures, and
  • Transfers.


Allotting Shares: 



Managing Share Redemptions, Forfeitures and Transfers:


 


In the event you require further assistance with maintaining your share registers in WealthWorks+, please refer to the WealthWorks+ 4.3.0 New Features article.


Tutorial Transcript


Allotting Shares


Once the shares and members have been set up you can start allotting shares. To allot shares to a member, go to the Shares tab and select Members Ledgers. Find the member in the Member Section and select the appropriate share class beneath their name. Then click the Add Allotment button in the Share Ledger box. This will open a 4-step Add Allotment transaction box. The first 2 stages (Member Details and Share Class Details) will be automatically completed. You can confirm the details of these steps by clicking the arrow on the right of the box if required. Step 3 displays the share issues available. The Issue Details shows the call status and the total number of calls for each issue, and if you hover the cursor over the Total Calls, you will be able to see the Call Schedule. You cannot post any share transactions until at least one issue has been created, but there is an option here to create a new issue and calls if required. Click the Create New Issue button and complete the details appropriately. However, you cannot edit issues or add calls to previously created issues here. Select the appropriate share issue and Step 4 will display automatically. Check the Application Date and Allotment Date, then enter the number of Shares Allotted. The share capital values have been automatically calculated from the share issues selected. Click Save Allotment to complete the posting.


(01:42) You can edit or delete an allotment. From the Actions button of the appropriate posting in the member's Share Ledger, or from the list view in Allotments. The list view can be customised using the Columns button and offers filter options by Member and/or Share Class.


Managing Share Redemptions, Forfeitures and Transfers


Once the member has been allotted shares you can post Redemptions, Forfeitures and Transfers. They are all managed in a similar way. You can only redeem, forfeit or transfer current share certificates which are displayed in blue. Cancelled certificates are displayed in grey. If you have multiple share transactions on one ledger you can hover the cursor over one of the certificate numbers and the corresponding certificate will highlight in blue to make it easier to find. You may need to select the Cancelled Certificate option from the Columns button first before you can see this. If a posting only partially manages the certificate a balancing certificate will be posted automatically.


(00:55) To post a share redemption, select the members ledger and identify the share certificate that you want to redeem. From the Actions button select Add Redemption. Check the Redemption Date and the amount of shares being redeemed, then click Save Redemption.


(01:13) To post a share forfeiture, find the share to be forfeited and select Add Forfeiture from the Actions button. Check the Forfeit Date and amount of shares being forfeited, then enter the Proceeds and click Save Forfeiture.


(01:30) To post a share transfer you first need to make sure the transferee (the member receiving the shares) already exists within the Member Ledgers for the same share class. If they don't you will need to add them to the ledger before you can post the transfer. Find the share in the member's ledger the transfer is being made from. Select Add Transfer from the Actions button. Find the transferee from the list or use the search box to find them. Check the Transfer Date and amount of shares being transferred, then click Save Transfer. If a balancing certificate is generated it will be posted to the transferee's member ledger.


(02:10) Redemptions, forfeitures and transfers cannot be edited once posted, but the last transaction can be deleted using Delete from the Actions button, or in the list view for each posting which is accessed using the relevant option. The list view columns can also be customised and filtered.


This tutorial is confirmed to be applicable from WealthWorks+ release 4.3.