There are several ways Admins can upload documents in bulk to investor profiles in IMS. If unique documents need to be uploaded to a specific group of investors, such as tax documents, Admins can utilize the bulk document uploader.
There are 3 methods admins can use when bulk uploading documents; Manual Match, Upload by Filename, and K-1 Matching. This article will review K-1 Matching. Articles on the other 2 options can be found here: Manual Match and Upload by Filename.
Pro-tip: Review the K-1 Best Practices before getting started uploading your K-1's!
Bulk Document Uploader Best Practices
No matter which upload method you choose to use, there are several universal best practices to help Admins get the most out of this feature.
- Documents uploaded need to be computer generated and in a readable PDF format. The system cannot read documents that are scanned and turned into PDFs.
- While the system is processing the documents for matching, users can navigate to another tab within IMS or can begin another batch upload without losing their progress. However, do not refresh the page, log out, or shut the browser completely.
- When the batch has finished uploading, the batch name will change from grey to blue and the user will be able to click into the batch.
- To bulk rename a K-1 document batch, at least one document must be matched to an investor. The system will only rename documents that are matched to investors. Admins can bulk rename document batches as many times as they wish. The system renames the matched documents to ‘Entity Name_Investor Name_Year K1’
To begin, navigate to Documents > Personal & Project Documents, then click the drop-down arrow in the top right corner of the screen.
This method is recommended for bulk uploading K-1 documents to your investors. It will associate the tax document with the investment in the investor portal. The K-1 Matching tool reads the Tax ID number in the document and looks for the investor within the given Entity that has this Tax ID saved to their profile. If the investor is not associated with the Entity within IMS or does not have their Tax ID saved to their profile, the system will not be able to automatically match a K-1 document to them.
Step 1: To use this method, select K-1 Matching on the drop-down menu.
Step 2: Begin filling in the fields prompted on the screen. *NOTE: All fields on the K-1 Matching page are required. Only investors associated with the Project and Entity will be prompted during the match process.
- In an entity's CRM Profile, you now have the ability to mark the entity as a Disregarded Entity and select the individual profile from which the SSN should be used for tax purposes.
- For K-1s that note additional pass-through entities in the file, you have the option to turn the 'Ignore K-1 Pass Through Entities' toggle to the 'ON' position to improve your match rate.
Step 3: Select the tax documents that you wish to upload and then select the Upload button.
Step 4: Once the upload is complete, select the batch name highlighted in blue.
Step 5: Once within the batch manager, navigate to Unmatched to begin matching any documents that the system was not able to match using the Tax ID number. You can click on the filename to preview the document to the right.
Step 6: To assign a document to an investor, begin typing in the white box that initially says 'Unassigned'. The system will prompt investors associated with the entity selected when uploading the batch. Select the appropriate investor.
Step 7: Once the document has been matched, it will move to the Matched folder.
Step 8: Once all documents have been matched, navigate to the Matched folder.
Step 9: If you need to edit a recipient for a document, click on the investor name to update the investor or change it back to Unassigned. You can also delete documents entirely by clicking on the trash can icon.
Step 10: Once you have matched the documents, they are ready to be published. Matched documents can be published in 3 ways. The system will only publish documents that have been matched to an investor.
- On the Manage Batches page, click on the arrow next to the batch name and then choose Publish All.
- From within the batch manager page, click on the Publish button in the bottom right corner of the screen.
- From within the batch manager page, click on ‘Publish Now’ in the yellow notification bar.
Step 11: If you choose to ‘Notify Investors,’ investors associated with the document will get an email notification as well. This notification can be customized under Investor Settings > Portal Notifications > K-1 Document Upload Notification.
Once published, you can navigate back to the Batch Manager page to see the status of all batches.
If you would like to export an audit log to see an Excel spreadsheet showing how all documents were matched, click on the drop-down arrow next to the batch name then choose Download Audit Log. This will download an Excel file.
If you would like to rename tax documents to ‘Entity Name_Investor Name_Year K1’ this can be done on the Manage Batches page. Click on the drop-down arrow next to the batch name and then choose Bulk Rename. The system will prompt you for the year you would like to attach to the file name. Only documents that are matched to an investor will be renamed.
If you need to edit the batch name at any point in time, this can be done on the Manage Batches page. Click on the drop-down arrow next to the batch name and then choose Edit Batch Name. The system will prompt you with the current batch name, and you can overwrite it with the desired batch name of your choice. Once this has been entered, click Save.
If documents need to be unpublished for any reason, simply navigate back to the Manage Batches page and select the drop-down arrow next to the batch name. Select Unpublish All.