Switch

Scope

Switch allows changing investment’s name to another one in case a sale of one investment occurs in exchange for another one.

Notes

• Asset Classes Included -> Equities, Funds, Alternative Investments

• Switch can be processed within the same portfolio only.

• It is the users’ responsibility to insert an exchange rate in case a multicurrency switch is recorded.

• The system will block the switch if more quantity than available in the source investment is being sold.

• Source Investment is recorded as sale.

• Target Investment is recorded as purchase.

Workflow

Path: Elysys Wealth -> Toolkit -> Switch

Notes:

• Investment Code Source must be different than Investment Code Target

  • Investment Code Source – specifies the original name of the investment.

  • Investment Code Target – specifies the new name of the investment.

• Rate

  • Specifies the exchange rate in case of multicurrency switch.

  • It is up to the user to update the exchange rate based on the rate indicated in the documentation provided by the bank.

  • Target Amount (ICY) and Target Amount IFRS (ICY) are automatically calculated based on the exchange rate specified.

• The system blocks the switch in case more Quantity Source is inserted into the journal than it is available for the Source Investment.

• Quantity Source can differ from the Quantity Target.

Test Report allows final check of the investment and ledger entries before the switch is posted.

Investment Ledger Entries

General Ledger Entries