The "Conversion" transaction in InvestNext can be used in two unique ways:
Convert equity from one class to another (Ex. Take an existing investment into Class A for 100 units and exchange it to 100 units of Class B)
Split shares using a conversion ratio, operating similar to the concept of a stock split. (Ex. 1 unit of Class A can be converted to 10 units of Class A)
Step-by-Step Instructions:
STEP 1: Navigate to the investor's Position page. Click the '+ NEW TRANSACTION' button. Then click 'Conversion':
STEP 2: Enter the details in the 'Main Properties' tab:
Date: Date of the transaction
Convert from: Select the current unit Class
Convert to: Select the receiving Unit Class
Units: Enter the total number of Units
STEP 3: Then choose whether the conversion should happen at Parity (1:1 Units) or using a Conversion Ratio that will multiply the number of Units based on the number entered.
STEP 4: Click 'Conver Equity' to complete!
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