The workflow for exchanging and converting shares within an entity is the same. This article references exchange of shares but the same steps should be followed when you select conversion instead of exchange.
Navigate to the Entity that is exchanging shares. Once selected, move to the Securities tab.
Select the share class that is being exchanged at the top of the Securities screen.
Select the +New button below the Transactions tab. This will result in a screen that lists all share transactions to choose from. Select the Exchange option. This is the screen that you can also choose Conversion which will result in that same workflow process.
Once selected a new screen will open that sets out the Exchange From Details. Indicate how many shares are being exchanged, dates, FMV and other details if known.
Move to the bottom of the screen, select the shareholder that is exchanging their shares. Select the Shareclass to Exchange within the entity. This will open up a tab to select the class of shares that they are being exchanged to. Select the new class and select Next.
The screen will now be changed to the Exchange To Details. Add the amount of shares that will be issued in the new class of exchanged shares.
Move to the bottom of the screen and select the shareholder information. Once complete select Next.
Review the information set out on the following screen and select Exchange at the bottom right.
Navigate to the top of the Securities screen to select the share class that was exchanged.
Select the Exchange transaction set out in the share class that was being exchanged and change the status from Pending to Confirmed by opening the transaction and selecting the Confirm button at the bottom right of the transaction screen once open.
Once complete, navigate again to the top of the Securities screen and move to the share class that the shares were exchanged for.
Complete the same process as the previous confirmation of exchanged shares.
Select the Exchange transaction set out and change the status from Pending to Confirmed by selecting the Confirm button at the bottom right of the transaction screen once open.