Stock Certificates are set up at File / Open / Stock Certificates. A Stock Certificate must be established for any form of ownership (or equity) identified to a Patron. This includes such values as Common Stock, Preferred Stock, Deferred Stock, Book Credits, or any other label a co-op may attach to Patron equities.
Modifications to stock certificates such as the adding of a comment, rate changes, or filters are done in this area. Caution should be used when deleting certificates. Equity balance modification cannot be done with this feature.
- Class – Specify the Stock Class for the Stock Certificate. This is a mandatory entry field.
- Stock Certificate – Enter a unique Stock Certificate number for the chosen Patron. This field cannot exceed fifteen characters. It is a mandatory entry field and must be unique for all Patrons.
- Patron – Enter the Patron ID or select (by double-clicking) from the Select Customers list. This selection represents the Patron that owns the particular Stock Certificate. This is a mandatory entry field.
- Date Issued – Enter the date the certificate is issued.
- # of Shares – This specifies the number of shares the Patron has acquired through Add to Equity or a patronage distribution. The number of shares should not be edited.
- $ Value Per Share – Enter the per share value of that specific certificate. This is a mandatory entry field.
Note: If certificate is not a true certificate, entering the $ Value Per Share as 1 is suggested. - Total $ Value – This displays the calculated value (# of Shares times $ Value per Share) of the Stock Certificate.
- Activate Cap – When using the Required Stock feature at the patronage payout, if the amount should be limited, check this option.
- Cap – A dollar amount that is the highest Total $ Value the Stock Certificate is allowed. Any feature that attempts to add value to the Stock Certificate will not be allowed to contribute an amount to the Total $ Value that would exceed an Active Cap.
- Interest Bearing – This is provided to make the Stock Certificate eligible for an interest calculation based on Total $ Value. The checkbox turns the feature on and off.
- Rate – This allows the certificate to display an interest rate related to this specific Stock Certificate. The Rate is a numeric field that allows for two decimal accuracy. The percentage is entered with an implied two decimals. For example, a two percent rate is entered as 2 and not .02.
- Dividend Bearing – This allows the Stock Certificate eligible for a dividend calculation base on Total $ Value. The checkbox turns the feature on and off.
- Rate – This allows the certificate to display a dividend rate related to this specific Stock Certificate. Rate is a numeric field that allows for two decimal accuracy. The percentage is entered with an implied two decimals. A two percent rate is entered as 2 and not .02.
- Maturity – This allows a date to be entered when the certificate will mature. This date is for informational purposes only.
- Voting – This designates a Stock Certificate as having voting shares. This checkbox is informational only.
- Notes – This allows for the alpha/numeric entry of any notes significant to the Stock Certificate.
- Date Closed – Enter the date that the certificate was fully paid out (zero value left). This date is for informational purposes only. Any function resulting in the full payout of the Stock Certificate value automatically fills in the Date Closed with the current system date.
- Active or Inactive – Indicate the status of the Stock Certificate. If a Stock Certificate is marked as Inactive, it cannot be affected (increases or decreases in Total $ Value) by any of the Patronage functions. If any function causes the full payout of the Stock Certificate value, then the certificate is automatically set to Inactive.
