FAQ 931: Earnings -- Interest from Balance Calculation

Problem: When attempting to run interest from balance on any plan we are not seeing the screen where we can enter the amount for each participant. It just starts running a calculation, from what I do not know. At least one of the plans worked properly last week before we loaded the last patch. Has anything changed?

Solution: https://asc-net.wistia.com/medias/czqfodxb7i Yes, the interest from balance requires transactions for data input. Load "Type 6" transactions for earnings/interest or "Type 10" transactions for Market Value/Ending Balance for each applicable employee for Fund # and Source "0" zero, prior to running this program. If you are not interested in creating transactions you can run the program and the split results will automatically post to the Values screen. If you do want transactions, be sure to click the "Create Transaction" box, enter the transaction and purchase dates and review the Group numbers included in the Calculation. After running the program the new split transactions will be created and the Source "0" transaction will be changed to a "T" temporary transaction. To have these transactions show up in the Values screens, run Calculations-Transactions-Process." The easiest way to input the transactions per participant is via the Grid. We have created a template for you to use. It has been saved to your ASC\REPORTS directory. Click on Employee menu-View-Grid-Open and browse to open the INTEREST FROM BALANCE TEMPLATE. Enter the Fund and Dates, Click OK If you are inputting earnings "Type 6", Then enter the amounts per person. If you need Market Value, be sure to change the Type to "10". After closing the Grid, the Transactions exist in the employees individual records (check Account Values-TRANSACT) and now you can run the Interest from balance program, be sure to enter the same transaction dates/fund number, etc. on the setup screen. NOTE: IF THE ZERO-SOURCE INTEREST TRANSACTIONS BOX IS NOT CHECKED, RESET THE DIALOG DATA. THIS IS DONE BY GOING TO THE MAIN ASC MENU-ACCESS-DIALOG DATA, check the box for FUNDINTBAL and click on "Restore Dialog Defaults" and "OK". If there was a mistake and someone needs to be revised: Choice #1 Post Interest Transactions VIA the Grid Run (not creating Transactions) posts to Values Transaction is set to “T” mode You DO NOT have to clear the Values field - the Interest from Balance does not accumulate it REPLACES Choice #2 Post Interest Transactions VIA the Grid Run (creating Transactions) posts split transactions to TRANSACT screen Original Transaction is set to “T” mode If you made a mistake and fix the original transaction and run it again NEW split transactions will be created EVENTHOUGH-the original “edited” transaction is still in “T” mode Only the Transactions you process will post to the Values AND these DO ACCUMUMLATE like all transactions.