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). A spreadsheet tab exists for each of the accounts 700530, 700531 and 700532. Start out on the tab for account 700530.
For each asset (e.g. Fixed Income Funds), enter the amounts highlighted in Figure 3 in the column labeled "Market Value" on the row with the statement date.
For each asset, enter the amounts highlighted in Figure 4 in the column labeled "Dividend Reinvestment" on the row with the statement date.
If funds were added to, drawn out of or transferred between assets, the values will appear in the report as "ACH Deposit", "ACH Withdrawal" or "Transferred", respectively. As appropriate these should be entered in the columns "$'s Added..." or "$'s Drawn..." on the row with the statement date.
Steps 6 through 8 should be repeated for each account.
Navigate to QuickBooks Custom Reports, search for the report "UCF Investments" and specify a 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 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 detail line descriptions to reflect the quarter you are handling.
Locate the corresponding asset on the Google sheet.
Each row in the table with the heading "Resulting Journal Entry Detail Lines" 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 appropriate quarterly report PDF.
Click on “Save and close” to save the journal entry.
Repeat steps 11 through 16 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