FCC Admin Tasks - Booking UCF Investments Gains or Losses

Booking UCF Investments Gains or Losses

The balance we carry in the General Ledger investment asset accounts correspond to the “Market Value” of the investment accounts at United Church Funds. The balance of the asset accounts should be made to match the balances reported by United Church Funds. This is done on a quarterly basis by calculating the "Net changed in Market Value derived from gains or losses stemming from market fluctuation and reinvested dividends that appear in the quarterly reports on the UCF website.

Step By Step Procedure

Login to United Church Funds Website.
Browse to “STATEMENTS & DOCUMENTS” page (see Figure 1)
Download the quarterly report PDFs for each investment account for the quarter being booked. In Figure 1 the highlighted PDF for the Trustee Investments is named “700530_0001_QMJSD_2025-03-31.PDF” (Note that having “QMJSD” in the name is the naming convention used to identify quarterly reports).
Upload the reports to the folder corresponding to the year in the UCF Investments Quarterly Reports folder and rename each consistent with prior reports.
Launch the Booking UCF Investments Journal Entries Google Sheet (see Figure 2) and follow the instructions at the top of each tab for each investment account. The amounts highlighted in Figures 3 and 4 identify the dollar values to be entered in the tables of the appropriate spreadsheet tab.
Browse to the QuickBooks report "UCF Investments" for the period covering the last 12 months. In Figure 5, the first asset account is the Permanent Fund UCF Balanced Asset account number 11044.
Edit the last journal entry for an asset account listed in the report and click “More>Copy” at the bottom of the journal entry to create a copy of the journal entry.
Change the date, the memo and descriptions to reflect the quarter you are handling.
Each column in the table "Resulting Journal Entry Detail Lines" in the Google Sheet corresponds to a detail line in the Journal Entry. The suffix "DR" is short for debit and "CR" is short for credit. Enter the credit or debit, as the case may be, in the field provided on each detail line.
Delete the old attachment on the Journal Entry and attach the current quarterly report PDF.
Click on “Save and close” to save the journal entry.
Repeat steps 6 through 10 for each asset account in the "UCF Investments" report.

Figure 1: Statements & Documents Page on UCF Website

Figure 2: Booking UCF Investments Journal Entries Google Sheet

Figure 3: Market Values from UCF Quarterly Report Being Booked

Figure 4: Dividends Reinvested from UCF Quarterly Report Being Booked

Figure 5: UCF Investments Report in QuickBooks