The Income/DRIP Template is a part of the Import Module and is a self-serving tool that can be used to upload Income, Interest, Return of Capital and DRIP transactions for existing investors. If you wish to only upload Income, Interest and Return of Capital transactions without any associated DRIP transactions, please refer to the Income Template guide which is added at the bottom of this article.
Once the Import Module is activated you will notice a new module on the left side of your screen.
After selecting this module, you will able to click on ‘Download Templates’ and select 'Income/Drip Template' in order to generate the Excel file that you will fill in with the information that you wish to upload.
The column headers in the template are listed below. Please note, columns with an * are mandatory fields that need to be filled out; all other columns are optional.
Investor Name
Offering
Account Number
Transaction Type*
Units*
Cost Per Unit*
Approved Date*
Closed Date*
Purchase Tran Num*
Grouping Number*
Amount
Reinvestment %*
Fee Identifier
We have provided a more comprehensive explanation of a few of these fields below:
Transaction Type*
The available inputs that need to be entered in these exact formats are INCOME, INTEREST, RC and DRIP. Please note, RC represents a Return of Capital transaction.
Closed Date*
The Closed Date on a transaction will be the date displayed on statements and the investor portal.
* Please note, all of the dates should be entered in Y-M-D format
Purchase Tran Num*
Within this column, the transaction # of the investor's first Buy, Transfer In or New Position transaction type should be added. The system will be able to determine the investor, account and issuer/offering based on the related transaction.
A tip for finding this number is to create an Offering Securities Export and refer to the column named Original Purchase Ref as it will output this number for each investor.
Grouping Number*
This column is used to group Income, Interest or Return of Capital to their associated DRIP transaction. Meaning if an investor is receiving an Income and a DRIP transaction then the same numerical value would be added in the Grouping Number column. Please refer to the Example Usage tab in the Income/DRIP template to see a demonstration of this with test data.
Reinvestment % *
Used to enter the investor's reinvestment percentage. For example, if the investor is reinvesting their entire distribution then you would enter 100, if they are being paid the entire distribution and not reinvesting anything then you would enter 0.
Fees
Fees on INCOME, INTEREST, and RC transactions can be added in the Income/Drip Template by using the 'Fee Identifier' column in the 'Transactions' sheet, and the 'Fees' sheet. For each transaction that will have fees applied, you will need to enter a unique value in the 'Fee Identifier' column. Fees should not be added to DRIP transactions, as DRIP transactions should be entered with the remaining value after the fee is applied.
Ex. An INCOME transaction entered in the template with 1000 units with a cost per unit of 0.05 would create an income transaction of $50 before fees are applied. If there is a $10 fee applied to this transaction in the template, it will be created in the system with a total value of $40. If this INCOME is being reinvested with a 100% reinvestment percentage, the associated DRIP transaction should be entered in the template with a total value of $40, with no fee applied to the DRIP transaction in the template.
Once each transaction that will receive fees has a unique 'Fee Identifier' in the 'Transactions' sheet, fees can be entered into the 'Fees' sheet of the template. You will reference each transaction using the unique 'Fee Identifier' in the 'Transaction Fee Identifier' column. Fees must be entered in total fee value, not as a percentage of the transaction. When the transactions are created in the system, fees defined in the 'Fees' sheet will apply to each specified transaction.
Uploading process
After the template has been filled out with all the information that you wish to add you will be able to select Upload.
*Before uploading the template you should TRIM LEADING AND FOLLOWING SPACES
You will then be able to pick the status that you want the transactions to be in once they are added to the system. If none are selected, the transactions will be uploaded in Approved status by default.
Once a file is added it will automatically start the validation and uploading process. Please note, the allowable file extensions are xls, xlsx and csv. Also, the maximum file size that can be uploaded is 80MB.
Subsequently, you will be able to track the status of the upload until it is complete. Be advised that it may take several minutes to finish based on the size of the file. If there are any issues the errors will be recorded so that you can make the necessary amendments to the file before uploading it again.
Otherwise, the file will be uploaded successfully and the data will now be in your system.