pControl Distribution Calculations automates the calculation of a fund's distribution cents or pence per unit (CPU / PPU) amount and underlying distribution components.
Distribution Calculations imports the fund’s income, expenses or any other account balance to calculate the assessable and non-assessable net income and determine the CPU / PPU to be paid to investors.
Periodic income distributions can create ‘peak load’ pressures and cause disruption to daily business processes where manual and semi automated processes are relied upon. These can be expensive, lack scalability and transparency, and carry significant operational risks that adversely impact customer service.
- Flexibility to configure jurisdictional specific calculations and reporting, including:
- Carried forward income or tax losses
- Capital losses allocated to capital gains
- Determination of distributable withholding tax credits
- User defined allocation of attributes to tax category including:
- Association of related income and withholding tax categories
- Allocation of tax source
- Allocation priority of expenses to income
- Allocation priority of capital losses to realised capital gains
- Treatment of withholding tax for distribution
- Loss reallocation
- Jurisdictional or fund specific allocations
- Provides detailed work papers including:
- Capital gains / losses YTD
- Carried forward values
- Income and withholding tax YTD
- Expenses YTD
- Expenses allocated to income
- Reallocation of losses
- Distributable net income
- Distribution YTD paid
- Amounts available for distribution
- Distribution declared
- Supports distribution declared category limits (e.g. capital gains).
- Integrates with Distribution Processing for full automation of distribution calculations for interfunded investment structures.
- Distribution control record allows navigation from summary to detail level with ability for user to approve or re-run processing.
- Common tax rule framework supports Distribution Calculations and Tax Expense Calculations.
- Rules and calculation engine provides flexibility and ease of implementation of taxation and legislative changes.
- Delivers rich client and SLA compliance reporting.
- Full audit trail of all calculation activity allows for review by all stakeholders and auditors.
- Production Summary dashboard delivers progress monitoring of all distribution calculation activities for each processing date.
- Attention Status Monitor dashboard provides real-time exception monitoring for any activity with critical completion or Service Level Agreement deadlines.
Distribution Calculations is fully integrated within the Distribution Processing end-to-end control framework.
The Distribution Processing end-to-end control framework and standard process template delivers a known end-state with defined target metrics. This simplifies client re-engineering decisions and ensures a predictable time-line to benefits.