This is a video tutorial on how to add a sub fund from within WealthWorks+.
This video will show you how to:
- Add a new sub fund to an entity
- Ability to edit the 'Objectives' for all sub funds
- Select the correct 'Chart of Accounts' for your sub fund
- Select whether you would like to 'Clone Nominal Codes' from an existing sub fund
- Deleting a sub fund
Tutorial Transcript
From within your Entity record select the 'Finances' tab. Click on + to 'Add a Sub Fund'. The 'Add New Sub Fund' page will open. Enter the 'Sub Fund Name'. The 'Sub Fund Reference' has been prepopulated, with the Entity Reference and Fund ID, but can be overwritten. The 'Sub Fund ID' will be consecutive and non editable. You can set out the 'Objective' for the fund, by selecting a prepopulated menu item, creating a new one or editing an existing one. Please note; if an 'Objective' is amended, it will change all Entity sub fund records. Select your 'Fund Type'. This field is mandatory when creating the sub fund. Select your 'Investment Risk Attitude', if required. Select your 'Investment Discretion', if required. If the fund is 'Execution Only' or for 'Underwriting', select these here. If you only have one 'Chart of Accounts' this should automatically default to 'Client Accounting'. 'Clone Nominal Codes' allows you to select an entity/sub fund to close the sub fund nominal codes from. The Nominal Code descriptions and settings will also be copied from the selected record instead of the master nominal codes. Once the details are completed appropriately, click 'Save'. The Sub Fund record will be successfully added to the Entity. If a sub fund has no transactions posted to it, it can also be deleted (where the deletion permission has been granted) by clicking the 'Sub Fund Settings' button and choosing 'Delete Sub Fund'.
This tutorial is confirmed to be applicable from WealthWorks+ release 4.15.