In the Create Variable Expense panel, you can add a variable expense or a tax expense based expense. The following are the options in the Create Variable Expense panel.
Option | Tag | Description |
|---|---|---|
Fund Information | ||
Entity ID | 1163 | Specifies the entity identifier. |
Entity Name | 1164 | Specifies entity name. |
Accounting Basis | 21 | Specifies the accounting basis. This option allows you to set up an expense on a secondary accounting basis or designate it to a specific class within a fund. |
Share Class | 34 | Specifies a valid share class. A share class is a designation, usually alphabetic, given to a fund's shares. For example, if you designate the share class as TF, the system accrues the expense against the entire or total fund. You can designate a specific share class if a total fund expense is not required. You can select a share class at either the Total Fund (TF) or class level for most variable expenses. If the variable expense uses a NAV based or a Ledger Based adjusted NAV expense rule, you can only select a share class at the TF level. If the variable expense is a tax expense based expense that uses a Ledger Activity adjusted NAV expense rule, you can select a share class at the TF or class level. |
Expense Information | ||
Replication Switch | 4971 | Displays the expense replication option that was selected on the primary accounting basis. This field is hidden. |
Primary Expense Account Name | 3252 | Specifies a valid expense account. |
Tax Expense | 1256 | Indicates whether the variable expense is a tax expense based expense. Options include:
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Secondary Basis Expense Account Name | 4997 | Specifies the replication expense account if it is different than the primary account. This field only appears when you select Replicate Expense Accruals and Settlements Diff Rec/Pay and Replicate Expense Settlements Diff Rec/Pay. |
Accrual Beginning Date | 35 | Specifies the accrual begin date. |
NAV Component | 3256 | Determines the value the system uses to calculate the expense accrual. Options include:
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Avg Net Asset Freq | 3261 | Specifies how the system determines the average net asset value in its accrual calculation. This field appears if you set the NAV Component field to Average Net Assets. Options include:
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TNA Use Prior Period | 3257 | Determines the value the system uses for the average net asset calculation with regards to prior year end total net assets and the current year. This field appears if you set the NAV Component field to Average Net Assets. Options include:
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Avg Net Asset Calc Start Date | 991 | Specifies if the system can use NAVs from dates earlier than the Accrual Beginning Date field value when calculating variable expenses that use average net assets. This field appears if you set the NAV Component field to Average Net Assets. Options include:
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Adjusted NAV Expense Rule Name | 11689 | Specifies the name of the adjusted NAV expense rule for the variable expense. This field appears if the expense's Share Class value is TF, and the NAV Component value is Prior Day Total Net Assets, Adjusted Net Assets, Average Net Assets, or Ledger Based NAV. For more information, see Use Adjusted NAVs to Calculate Variable Expenses. It also appears if you set the Tax Expense field to Yes. |
Tier ID | 3255 | Specifies the name of the variable expense tier rule to use with the expense. A variable expense tier rule has a Tier Type of Expense. |
Tax Rate | 3201 |
Specifies the percentage rate used for a tax expense based expense, in decimal format. This field appears if you set the Tax Expense field to Yes. | ||||||||
Fee Currency | 85 | Specifies the local currency in which the asset is denominated. | ||||||
Calendar/Business Days | 824 | Indicates whether business or calendar days are used. This field is populated by information stored at the entity level. | ||||||
Minimum Fee Amount | 3254 | Specifies the minimum fee applied if a daily accrual fails to meet the minimum. This field is optional. If you enter a value for the Minimum Fee Amount and Minimum Fee Frequency fields, the system compares the minimum fee amount with the actual fee accrued for the minimum fee frequency period. If the actual accrual does not meet the minimum, the minimum is posted instead. | ||||||
Minimum Fee Frequency | 3253 | Specifies the frequency of the minimum amount. This field is optional. If you enter a value for the Minimum Fee Amount and Minimum Fee Frequency fields, the system compares the minimum fee amount with the actual fee accrued for the minimum fee frequency period. If the actual accrual does not meet the minimum, the minimum is posted instead. Options include:
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Maximum Fee | 11451 | Specifies the maximum fee applied if a daily accrual exceeds the maximum. This field is optional. If you enter a value for the Maximum Fee and Maximum Fee Frequency fields, the system compares the maximum fee amount with the actual fee accrued for the maximum fee frequency period. If the actual accrual exceeds the maximum , the maximum is posted instead. | ||||||
Max Fee Frequency | 11578 | Specifies the frequency of the maximum amount. This field is optional. If you enter a value for the Maximum Fee and Maximum Fee Frequency fields, the system compares the maximum fee amount with the actual fee accrued for the maximum fee frequency period. If the actual accrual exceeds the maximum, the maximum is posted instead. Options include:
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Waiver Information | ||||||||
Waiver Tier ID | 16641 | Specifies the name of the waiver tier rule to use with the expense. A waiver tier rule has a Tier Type of Waiver. The system processes waiver tiers as it processes normal expense waivers and processes them with expenses. | ||||||
Expense Limit/Cap | 4754 | Specifies a percentage of a variable expense to waive during the accrual process instead of accruing the full amount and reimbursing the fund if expenses over accrue during the accrual period. If you enter a value of 0 (zero) the system allows a full or 100% waiver of the expense. For more information, see Manage Waivers for Expenses. | ||||||
Waiver Expiration Date | 4755 | Specifies the waiver expiration date. | ||||||
Waiver Account | 4756 | Specifies the waiver account. | ||||||
Other Information | ||||||||
| 12040 | Specifies the acceptable difference, which is measured as a percentage, between the current accrual value and the prior accrual value when you updated an accrual. NOTE: Define an accrual tolerance percent or an accrual tolerance amount. Do not define both. | ||||||
Accrual Tolerance Percent | 12039 | Specifies the acceptable difference, which is measured as a dollar amount, between the current accrual value and the prior accrual value when you update an accrual. NOTE: Define an accrual tolerance percent or an accrual tolerance amount. Do not define both. | ||||||
| 12043 | Specifies the acceptable monetary difference between the current amount and the prior amount. NOTE: Define a payment tolerance amount or a payment tolerance percent. Do not define both. | ||||||
Payment Tolerance Percent | 12042 | Specifies the amount the payment can differ from the accrued balance as a percentage of total net assets. NOTE: Define a payment tolerance amount or a payment tolerance percent. Do not define both. | ||||||
Trueup Spreading Method | 12044 | Indicates the calculation frequency. Options include:
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Trueup Spreading Days | 12053 | Specifies the number of days used in the trueup calculation if you use a User Defined trueup spreading method. This field appears if you set the Trueup Spreading Method option to User Defined. |