Set up an accrual payment (accrue funds for investors)

First, make sure you have an accrual type security set up. Let’s imagine you have two different securities:

• Ordinary Units (a unit trust type security)
• Accruals (an accrual type security)

To use a payment to accrue funds for investors in their Accruals holdings, follow these steps:

• Go to Payments and click + Create new payment.
• In the Select one or multiple securities field select Ordinary Units.
• Fill out components to set up the payment according to your requirements
• In the Distribution reinvestment plan participation section select Yes for Allow DRP.
  • Click the Show more options link.
    • Click Yes for Force DRP to all users.
    • Select the accrual security name (eg, Accruals from the example above) in the Alternate security class for DRP dropdown.
    • Select Accrual for the DRP statement description dropdown.
• After you have set the payment dates, click the Show more options link to show additional options:
  • In the Tax statements and tax office reporting section, choose No.
  • In the Communications section ensure that you choose No as you do not want to send investors a notice of payment or a payment statement for this type of payment.
• Click Next and the payment will be saved.
• You will be redirected to the Payment details page to review the payment details.
• Click Next and on the next page click Approve and schedule payment. A warning message will appear to show some important information before you proceed. If you’re sure, click Yes, I’m sure.
• The payment is now approved. On payment date, transactions will automatically be created which will accrue value in the Accruals holdings of the investors in the payment. In the example above, the amount accrued will be calculated based on the configured payment components and the investor’s holding in the Ordinary Units security as at the record date.