Secretariat has the ability to calculate the ownership of an entity based on the transaction ledger that is maintained on the Securities tab. This functionality can be enabled for a single class of equity only. Secretariat can calculate and insert records on the Ownership tab that will reflect the information entered on the transaction ledger.
Once ownership calculation is enabled, you cannot create new records or delete existing records on the Owners subtab on the Ownership tab for that entity. Also, the Name, Equity Percentage, Voting Percentage, Units Held, Start Date, and End Date fields for the system-calculated records on the Owners subtab are read-only.
Changes to the transaction ledger can be used to update the Ownership tab from the Securities tab. This functionality minimizes the risk of inaccurate information and eases the burden of data entry. Only one class of equity can be designated for ownership calculation, and the calculation includes equity and voting ownership. See Calculating Ownership from Securities for more information.
When using the transaction ledger to calculate ownership for an entity, Mitratech recommends first removing or editing the existing records on the Owners subtab on the Ownership tab. Previously, the Equity Percentage, Voting Percentage, Units Held, and Start Date fields were not required for ownership records.
Values for these fields are now required if calculating ownership and must be entered. When calculating ownership, Secretariat automatically attempts to resolve the existing records with the transaction ledger. If values do not exist for certain fields, an error will be returned and you will need to resolve the issue before calculating ownership.