This page describes two coupon period fields, the Coupon field and the Coupon Type Code field, that you can use when you set up fixed income securities for use with Eagle Accounting.
Coupon
Coupon (tag 70). Specifies the rate at which the security accrues interest. It is expressed as an accrual rate. A value of zero is required for zero coupon bonds.
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If the value of this field changes after a position exists, provided the Coupon Type is Fixed, the change affect the current and future coupon periods' earnings. Prior coupon periods' earnings are not affected by a change to this field, unless earnings are rolled backed to that period and then rolled forward, or a trade is backdated for a previous coupon period and thus, when earnings roll forward, they pick up the new value when the earnings process runs.
Coupon Type Code
Coupon Type Code (tag 97). Indicates the type of coupon that is associated with the security. The options include Floating Rate (X), Inverse Floating Rate (R), Variable Rate (I), Step Coupon (S), Fixed Rate (F), and Unscheduled Variable Rate (V). This field is required. When Coupon Type is set to X, I, S, F, R, or V, the Coupon field in the SMF (tag 70) is for reference only, because the system does no processing on tag 70.
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