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Factoring Other Factored Assets

Assets other than common trust funds or mutual funds can have transactions factored to multiple tax codes. For example, you may have foreign dividends that were misposted net of foreign taxes, or you may want to factor the nontaxable percentage of a dividend for a non-mutual fund asset.
To factor other factored assets:
  1. On the Register Listing page, select Run for the
    Comprehensive Asset List
     register.
  2. Select
    Yes
     from the asset's
    Factored
     field. The following graphic shows that asset 67065R739 has its
    Factored
     field set to
    Yes
    :
  3. Select
    Save
    .
  4. Select the check box in the second column on the left for the asset you want to factor.
  5. Select the
    Mutual Fund Factors
     subtopic. The Mutual Funds Summary page displays.
  6. Select the
    Asset ID
     link for the asset. The Mutual Fund Factors page displays.
  7. If factors already exist, select the down arrow for the posting date. In the second grid on the Mutual Fund Factors page, review and, if necessary, update the factors for the posting in the
    Value per Unit
     or
    Percent of Distribution
     column.
  8. If you need to add one or more factors, add the posting(s) then add the factor(s).
  9. To add a posting:
    1. In the first grid on the Mutual Fund Factors page, enter the date range for the posting in the
      Factor Date
       from and
      Through
       fields in the row with the text, "Click here to add new Posting or Original Tax Code."
    2. Enter the original tax code of the transaction to factor in the
      As Tax Code
       field. Select
      Lookup
       (located to the left of the
      Save
       button) if you want to review a tax code listing.
    3. Press TAB to automatically fill the
      Description
       field with the description for the tax code.
    4. Enter the payment date in the
      Payment Date
       field. Press TAB until the posting date is added as a row to the grid.
    5. Select
      Save
      .
  11. To add factors:
    1. In the first grid on the Mutual Fund Factors page, select down arrow for the posting date.
    2. In the second grid on the Mutual Fund Factors page, enter the tax code to factor to in the
      Tax Code
       field in the row that includes the text, "Click here to add new Factor." Press TAB to automatically fill the
      Description
       field with the description for the tax code.
    3. If the tax code is a municipal or foreign tax code, select the state or country code from the
      Origin
       field.
    4. Enter the decimal amount to be factored to the tax code in the
      Pct of dist
       field. Press TAB until the factor is added as a row to the grid.
    5. Select
      Save
      .
    6. Complete the steps listed above for each factor you are adding.
    7. When you finish adding factors, verify the factors you added and that the total percent of distribution is 1.0000.
  13. Select
    Save
    .

This article applies to:

  • PRODUCT: ONESOURCE Trust Tax