Stock Transfer

Equity value may be transferred from every Stock Certificate in a selected Stock Class to a corresponding Stock Certificate in another Stock Class at Accounting / Patronage / Transfer Equity / Stock Transfer. 

This function can transfer value from one Stock Class of Stock Certificates to another without generating fractional shares on the new certificates (it leaves values less than one share on the original certificates).

If there is a remaining balance on the Stock Certificate that is less than one share, the certificate must be manually transferred using the Transfer Equity function found at Accounting / Patronage / Transfer Equity. 

Process

1. Within the Stock transfer window, select the Patrons whose stock is being transferred. This defaults to all Patrons, but specific Patrons may be selected if necessary.
2. In the From section, select the Stock Class being transferred from the Class drop-down.
3. In the To section, select the Stock Class receiving the transfer from the Class drop-down.
4. Choose Post.

Posting Notes

The following posting occurs:

• For each selected Patron, the first Stock Certificate in the selected To class will potentially receive value from all Stock Certificates in the From class (belonging to the same Patron). Only full shares are contributed to the Stock Certificates in the To class.
• The value contributed to the To class is relieved from the Certificates in the From class (leaving only values less than the $ Value Per Share on the To Certificate).
• A Stock History entry is generated for each Stock Certificate that value is transferred From or To.
• A General Journal Entry is posted to the current month.