Details
To issue new units in a unit trust, use the Allotment transaction.
CAS 360 does not have a "New Issue" or "Issue New Units" option. An Allotment is the transaction used to issue new units to a new or existing unitholder.
Units, not shares
Unit trusts issue units to unitholders, not shares. If you are looking to issue new shares in a trust, you are issuing units, so use the Allotment transaction. To issue new shares in a company, see the company share transaction articles.
Navigation
From the Main toolbar, navigate to Trust.
How to issue new units (Allotment)
- From the Trust Selection screen, search for and select the unit trust.
- Select the Unitholders tab.
-
Select Add Transaction.
-
From the list of transaction types, select Allotment.
-
Enter the allotment details:
- Unitholder: select an existing unitholder, or add a new contact if the units are being issued to someone new.
- Unit class: select the class of units being issued.
- Number of units: enter the number of new units.
- Amount paid / unpaid: enter the amount paid per unit and any amount unpaid.
- Date: enter the date the units are issued.
- Select Save. CAS 360 opens the Document Production screen.
Allotment or Initial?
| Transaction | Use it when |
|---|---|
| Initial | Recording the first units held when setting up the trust, or bringing an existing trust's unitholdings into CAS 360. |
| Allotment | Issuing new units after the trust has been set up, to a new or existing unitholder. |
| Unit Transfer | Moving existing units from one unitholder to another. No new units are created. |
Forms Prepared
On the Document Production screen, you can prepare:
- Application for Units
- Trustee Meeting Minute/Resolution
- Unit Certificate
- Register of Unitholders
Tip
To have only one director sign the Unit Certificate, see Add Trust Unitholders.