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How do I create income/spending distributions? (New Spending Interface)

Income/Spending distributions can be done three different ways in Fundriver. You can automate the spending process (Automated Method) or you can enter the income/spending distributions manually either transaction by transaction (Manual Method) or by using the “Copy from Excel” feature (Flexible Method).  The first step in any of the methods is to verify that your spending rule is set up and is correct.  Please review the article "How do I set up a spending rule?" for guidance on creating a new rule.  To check your existing rule(s), go to “Organize” then select “Spending Rules."

Distributions using the Automated Method:  

First, verify your spending rule is set up correctly by navigating to ORGANIZE > SPENDING RULES.

Once you have verified that the spending rule parameters are set correctly, you can have Fundriver debit each individual fund for its spending amount. The automated method can be used to debit funds for the spending amount and set up to work with your withdrawal schedule. For example, if the annual payout rate is 5% and you want to debit funds quarterly using this AUTOMATED METHOD, you would change the Withdrawal parameter POSTING FREQUENCY to QUARTERLY , then CREATE  DISTRIBUTIONS during the period the cash is drawn down.  See above for example spending rule.

Next, go to ACTIVITY > DISTRIBUTE.

Choose a spending rule from the SELECT SPENDING RULE drop down menu.  

Choose a date from the USE FUND VALUES AS OF drop down menu.  Click CREATE DISTRIBUTIONS.
Select Spending Rule

The choices are:

  • All Spending Rules
  • All Primary Spending Rules
  • All Secondary Spending Rules

And then each individual rule is listed -- in this case: Blank rule, Standard Spending Rule - Primary Rule, and Supplemental Spending Rule - Secondary Rule.

Once you have selected a spending rule rule from the drop down, select a date from the Use Fund Values As of drop down

Use Fund Values As Of

Click the CREATE DISTRIBUTIONS button

Create Distributions

When the CREATE DISTRIBUTIONS screen appears, click OK.

When the CREATE DISTRIBUTIONS screen appears, click OK.

Your distributions will be created based on the spending parameters you have set up.  See the end of this document for a report you can run to review your distributions.

Deleting distributions can be done the same way they were created - just select the appropriate items from the drop downs, and click the DELETE DISTRIBUTIONS button. You will receive a popup to confirm that you want to complete the deletion.

Delete distrubtions
Distributions using the Manual Method:

To enter spending/income distributions manually, go to ACTIVITY > TRANSACTION ENTRY.

Manual Method:  To enter spending/income distributions manually, go to ACTIVITY > TRANSACTION ENTRY.

Choose the TRANSACTION TYPE of DISTRIBUTION and enter amount and any other information you would like available on the transaction record.

Choose the TRANSACTION TYPE of DISTRIBUTION and enter amount and any other information you would like available on the transaction record.

Click SAVE.

Click SAVE.

Repeat for as many distributions as you would like to process for a given period.  This method is best for when only a few distributions are needed.

Distributions using the Flexible Method:  

The Flexible Method uses the COPY FROM EXCEL feature in Fundriver.  After you've verified that your Spending Rules are set up correctly, go to REPORT > DISTRIBUTION.

Flexible Method:  The Flexible Method uses the COPY FROM EXCEL feature in Fundriver.  After you've verified that your Spending Rules are set up correctly, go to REPORT > DISTRIBUTION.

Click on ESTIMATED SPENDING REPORT and RUN REPORT.

Click on ESTIMATED SPENDING REPORT and RUN REPORT.

This report will calculate the spending amount available based on the spending rule parameters that are set.

 

Once the report appears, click on the EXPORT icon.

Once the report appears, click on the EXPORT icon.

Export to Excel.

Export to Excel.

Once this information is in Excel you can edit and change the amounts as needed.  Once those edits have been made, the file needs to be reformatted to use the COPY FROM EXCEL feature.

 

Click on ACTIVITY > TRANSACTION ENTRY.

Click on ACTIVITY > TRANSACTION ENTRY.

Click on the COPY FROM EXCEL tab and choose the DISTRIBUTION TRANSACTION TYPE.

Click on the COPY FROM EXCEL tab and choose the DISTRIBUTION TRANSACTION TYPE.

Go back to your Estimated Spending Report.  Delete all columns on the report except for GLID and GROSS DISTRIBUTION.  

Note: If you have funds that are scheduled to reinvest either to market value or principal, you must take the additional step of adding in these transactions manually or using Copy from Excel.  Funds that are reinvesting to market value should have a TRANSACTION TYPE of EXTERNAL TRANSFER IN and funds reinvesting to principal should have an INCOME TO PRINCIPAL type.  You can use the ESTIMATED REINVESTMENT figures from the report above to populate the reinvestment transactions.

Add two additional columns for NOTES and SPENDING/INCOME ACCOUNT NUMBER (Destination).  Populate these columns if you would like the information to reflect in the transaction record.  They can also be left blank.

Add two additional columns for NOTES and SPENDING/INCOME ACCOUNT NUMBER (Destination).  Populate these columns if you would like the information to reflect in the transaction record.  They can also be left blank.

Select your data and copy the four columns by right clicking and selecting COPY or using Ctrl + C.

Select your data and copy the four columns by right clicking and selecting COPY or using Ctrl + C.

You will see the message below.  Click Ctrl + V to paste.

You will see the message below.  Click Ctrl + V to paste.

Your data will populate the table on the IMPORT TRANSACTIONS FROM EXCEL screen.  Edit or delete any distributions you notice are incorrect.  

Your data will populate the table on the IMPORT TRANSACTIONS FROM EXCEL screen.  Edit or delete any distributions you notice are incorrect.  

Once all data is correct, click the PROCESS button.

Once all data is correct, click the PROCESS button.

Exceptions that cannot be processed will remain in the table with a corresponding ERROR MESSAGE.  A blank table means all records were properly processed.

Exceptions that cannot be processed will remain in the table with a corresponding ERROR MESSAGE.  A blank table means all records were properly processed.

Review any unprocessed records for errors and correct using the EDIT COMMAND.  Once corrections are made, click on PROCESS.

Your distribution records have now been committed to the database.

Once all distribution transactions have been added to Fundriver, navigate to REPORT > DISTRIBUTION to run a report to review your distributions.

Once all distribution transactions have been added to Fundriver, navigate to REPORT > DISTRIBUTION to run a report to review your distributions.

Click on DISTRIBUTION REPORT and enter your REPORT PARAMETERS.  Click RUN REPORT.

Click on DISTRIBUTION REPORT and enter your REPORT PARAMETERS.  Click RUN REPORT.

The DISTRIBUTION REPORT will list all distributions made during the chosen period and provide a total distribution amount.  

The DISTRIBUTION REPORT will list all distributions made during the chosen period and provide a total distribution amount.  

This report can be exported to any of the file formats listed below.

This report can be exported to any of the file formats listed below.
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