Under Armor split its stock in the form of a spinoff of a new non-voting class of shares. One share of new class C shares was distributed for each Under Armor share. The two classes trade separately so this should be treated as a spinoff rather than a stock split in the accounting software.
Under Armor has also changed the ticker symbols for the class A and class C shares, since this spinoff took place. If your club has not already done so, make sure that you have the current ticker symbols assigned to the correct class of shares.
The highlighted section below gives steps on how to adjust the name and ticker symbol for securities in both myICLUB.com and the Desktop Club Accounting 3. Before working on the spinoff, make *certain* that you have at least adjusted the name and ticker for the class A shares, to UAA.
Go to Transactions > Spinoff or Accounting > Securities > Record spinoff of securities depending on if you are using the Desktop Accounting 3 program, or the online accounting at myICLUB.com
Here is the information you need to complete the spinoff.
Save the transaction and the spinoff has been entered.
Shortly after this spinoff, in June of 2016, Under Armor performed a stock split on their Class C shares. The split ratio was so small that most clubs only received cash.
Don't forget that you'll be entering this split using the UA ticker symbol, as this is the current symbol for Under Armor Class C shares.
If you are using the online accounting at myICLUB.com , you can enter the stock split transaction as normal. Enter the date as June 15th, 2016 (or whatever date your broker shows), use a split ratio of 0.007098 for 1 , and don't forget to include whatever cash the club received.
If you are using the Desktop Accounting 3 program, the main difference is that you should not including the cash received, as part of the stock split transaction. Instead, you will need to enter a sale the next day, of the fractional shares that were sold off, for the amount of money that the club received.