Resetting Yearly Investment Income

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Clear YTD Investment Income by Year



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Access this screen by selecting Tool #764: Reset YTD Investment Income Tracking.

This screen is used once each year to reset the YTD Income Earned “bucket” for each investment to remove the previous year’s income history at the start of a new year. This must be done prior to closing the books for year-end, but can happen anywhere from January 1 until you need to prepare the credit union’s January 31st financials. Any income for the year entered will be subtracted, but income for the current year will remain, so this can be done at any time after the start of a new year. Here’s how it works:

The system looks at income transactions for the year specified. Any amounts for that year are totaled, then that amount is subtracted from the YTD income bucket. The history records themselves are not affected; only the YTD Income amount will change.

What this means is that if this option is run more than once for the same year, the total will be subtracted from YTD income more than once, resulting in an inaccurate YTD total. This must be fixed manually by making an adjustment to each investment—obviously a time-consuming process. Therefore, be very careful not to process this for the same year more than once!!

If you have not cleared income for previous years, carefully evaluate investment history to determine which years need to be reset, then perform this process in order from the oldest year forward (i.e., 1995, 1996, 1997, etc.). Don’t skip a year, or the figures will be wrong!

Enter the year to be cleared, then use Enter to reset the income figures. A report will be generated showing how much was subtracted from each income bucket.

Sample Scenario

ABC Credit Union buys a CD in September of 1998. It is now January 2000.

Date of Income Transactions

Annual Income

Life Income

Sept. through Dec. 1998



Jan. through Dec. 1999



Jan. 2000



If ABC has never cleared their investment income totals, they would need to run the reset option twice: once for 1998 and again for 1999.

During January 2000, it is important that ABC not post any 2000 income until they have posted all of their 1999 income and run their financial investment analysis reports. Then the 1999 YTD income totals would be cleared, and ABC could begin posting 2000 income activity to be used for the January month-end analysis.

Report Sample

The following report will be generated automatically to show how much was subtracted from each YTD income bucket.





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