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How to enter a new consolidation?

Article ID
ias-5069
Article Name
How to enter a new consolidation?
Created Date
29th November 2007
Product
IRIS Personal Tax
Problem
How to enter a new consolidation?
Resolution
Users are required to: 1. Log on to IRIS and select the client. 2. From the Edit menu, select Capital Assets. 3. Click on the Share Holding then click on Events. 4. Click on Consolidation and enter the date. 5. Once the date has been entered, users are required to alter the existing shareholding to how it stands now and also change the events post consolidation. The Consolidation button records the holding details as they are before editing the holding and events to adjust them for the consolidation. The recorded holding is used to ensure any existing imported dividends remain unchanged even though the holding has been revised for capital gains purposes. The recorded holding is also used for non-imported dividends to print the correct holding on the report. IRIS keeps a hidden copy of the shareholding as it stands before the consolidation date.

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