The Fund Management module can be used for managed funds, property syndicates or a equity funds or any similar financial instrument. The ability to add and modify via Lookups means there is a great deal of flexibility within this module
Prerequisites required prior to creating a new fund;
- A fund type and sub types for property and / or fund type set within Lookups.
- For a Property Syndicate only a development needs to be set up withing CompleteEmpire using the Developments module.
- During the process you will need to identify a trustee, set up a receipt template for the funds invested, a certificate and tax statement template for the investor and a bank account to be assigned to the syndicate.
- Click {Fund Management}>{Fund Management} in the Main Menu - to open the Fund Management view that lists existing Fund Management.
- Click [Create New] + icon in the Fund Management view Work Area Quick button group to open the New Fund window.
Or:
- Click on [Create New] in the Quick Actions button group in the Work Area Header (breadcrumb bar) and click {Fund} to open the New Fund window. This can be done from anywhere within CompeteEmpire.
- {Name} - enter name for the fund.
- {Developments} - if relevant to the type of fund select the associated development. Noting that the development needs to have been set up prior to the creation of a new fund (such as a property syndicate).
- {Type} - select the type of fund noting that this can be updated within Lookups.
- {Fund Partners} - select your marketing and selling partner.
- Complete as many field as possible noting that the fields outlined in red are mandatory.
- Tick {Create a bank for use by finance?} if the fund needs to loan to parties and charge interest and run a loan book then tick this box to set up the required accounts.
- Click [OK] to save the new fund. This will open the fund edit view and additional information can be added. The Edit view can be accessed anytime in the future to add or edit information as required.
At this point you have created the Fund and can proceed to update the status, add additional information, add investors, manage campaign costs, manage and review the financials, manage associated documents.
The Summary/Edit views for the Fund can be accessed anytime in the future to add or edit information as required.
Refer to Explore the Fund Management Summary view and Explore the Fund Management Edit view
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