Can someone help with what ledger codes I should use for Australian Securities Term Funds & Property Funds when setting up. I am entering into BGL360 from the old MYOB AE Accounts.
The Australian Security Limited (ASL) Term Fund is like a Term deposit where the money is loaned to ASL against a property ( ASL has a number of client or borrows the money and I think they morgage a property against the loan) and ASL charges the client interest and then reimburses the interest back to the super fund. Technically it is not a bank account, and if I use investment codes it needs for me to add units each time money is withdrawn or paid back. Any suggestions
Australian Security Limited (ASL) Property Fund - This pays a distribution and has a statement - you invest the money with ASL but it does not have units. This money is against property as well and is also has market value - but the super fund does not own the property.
I was thinking Hybrid Securities for the Property Fund???
Can anyone help me as I have no idea