A cooperative operates for the benefit of its members on a not-for-profit basis in order to provide the goods and services members need at the lowest practical cost. Members/shareholders own the cooperative and participate equally in the governance of the cooperative.
For assets that are part of a cooperative, a parent asset is linked to child assets. The parent asset receives the bill, which is calculated based on the number of units. Valuation records containing information needed for billing are linked to the parent asset. The billing system may or may not store specific valuation information for the child assets units.
If a cooperative is dissolved or converted (e.g. to a condominium), the parent asset is end-dated and the individual units/assets become billable.
The Asset object in the system allows for parent/child asset relationships that cooperative and cooperative unit assets need. The supplied C1–RealPropertyAsset base business object supports the ability to define an asset as either a cooperative or a unit in the cooperative using the Special Role lookup.
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