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Joint investment allocation by bank account

 

As of May 11th, 2023, we have introduced functionality for running JIA by bank account which allows for the scenario of a single investment pool that contains multiple bank accounts. You will need to run this process for each bank account in the pool. This document describes how to use the process

JOINT INVESTMENT ALLOCATION

 

Before we jump into the process, we want to call your attention to a helpful tool. During your first run-through with the new form, you may see these popups at the bottom left of your screen.

 

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This sticker gives you information about features on the screen. If you want to know more, click Take a tour, and it will walk you through options you have on the screen and explain what they do. If you don’t like seeing this message, you can click the X to get rid of it.

 

Step 1: Choose JIA from akoyaGO dropdown

 

On your Business Central home page, drop down the akoyaGO menu and choose Joint Investment Allocation.

 

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From there, a list of your bank accounts will open.

 

Step 2: Select a Bank Account

 

On the bank accounts list, at the top of the page, you will see options for Open JIA and View History.

 

Highlight the bank account you wish to use by clicking on the line.

 

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View History

            

For the bank account selected, View History will show you all Posted, Reversed, and New Joint Investment Allocations batches.

 

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  • New: Started but not posted.
  • Posted: completed, allocated, and posted to ledger
  • Reversed: Allocations reversed. Note: you cannot reverse a batch when there are posted batches with more recent dates than the batch you are trying to reverse. We will cover reversals in depth later on in this document.

If your JIA batch’s status is General Journal, that means that the browser crashed or someone exited out of the browser while viewing the adjustments. To fix, click Apply Allocations, review the adjustments and either cancel or post from there.

 

Open JIA

 

If no current (New) batch exists, Open JIA will start a new batch. If a current batch already exists, Open JIA will open the current batch for the selected bank account.

 

RUNNING JIA

 

Set the Statement Ending Date

 

When the new JIA form opens, fill in Statement Ending Date and Period to Allocate. The other fields on the top half of the form will be locked and will auto populate or update with the pertinent information.

 

If, for example, your organization runs JIA monthly, select the last day of the month you want to run it for and choose Month in the Period to Allocate field.

 

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Fill in Accounts

 

The bottom section of the JIA form is the Accounts section. This is where you will fill in the G/L accounts and the amounts to allocate to them. The first time you use this form you will need to do this manually, however, if you save those accounts as default accounts, you will not need to manually choose the accounts the next time you use the form.

 

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Defaults

Once you have the G/L Accounts filled in, go to the top menu, to the Defaults option. Select Save as Default. Now, the next time you run JIA for this account, you can choose Load Defaults from this same menu and it will fill in your default accounts.

 

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Amounts

Entering amounts is up to your preference. You can enter numbers in the Gain/Loss fields and the Amount, Debit Amount, and Credit Amount fields will update accordingly, or you can enter numbers in the Amount field and the Gain, Loss, Debit Amount, and Credit Amount fields will update accordingly.

 

APPLY ALLOCATIONS

 

When you are satisfied with the JIA form (and please note that you can leave and come back to the form as many times as you need), you will apply the allocations.

 

Important: Applying the allocations will post them directly to your general ledger. Previously we allowed users to turn off autoposting for JIA, but autopost for JIA has been turned on and the field has been hidden, meaning that allocations will no longer be sent to the JIA journal. They will post right to the general ledger.

 

Step 1: Apply Allocations

 

Click Apply Allocations in the top menu.

 

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After clicking apply, you will be presented with a list of the adjustments made. Please review this list and ensure that the adjustments are correct. If you see errors in the adjustments screen, click Close and answer No when you are prompted to post journal adjustment entries.

 

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From there, you will need to make adjusting journal entries or otherwise fix your data, then come back to the JIA form and try to allocate again.

 

If you are happy with the adjustments, close out of the adjustments screen and answer Yes to the prompt above.

 

And that is the full JIA process. For pools with multiple bank accounts, you will need to execute this process for each bank account in the pool for the period.

 

REVERSALS

 

To reverse a posted JIA batch, navigate to Joint Investment Allocations, select the bank account, and click View History.

 

Click Reverse from the top menu and then Reverse Batch. Please note that you cannot reverse individual JIA entries from the general ledger. JIA batches must be fully reversed and reposted. 

 

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Please note that you will be unable to reverse any batch when there is a more current New or Posted batch. You will need to reverse the more recent batches to get to the one you want. If the batch is New, then you can delete it by clicking the Delete Batch button above.

 

Next, you will get a popup asking you to confirm the action. Click Yes to continue, No to exit.

 

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Then you will once again be presented with the list of adjustments for that batch. To reverse, click Reverse, or Reverse and Print.

 

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And say yes on the following popup to complete the reversal.

 

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