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Month end processing allows a Core Accounting portfolio to report as-of activity in a separate month-end period while maintaining its regular ledger period process.

Most Eagle Accounting clients that use month end processing use Control Center to automatically schedule and perform the tasks that comprise month end processing. However, you can also perform many of those tasks manually by submitting the corresponding panels. This section describes those panels, which you may need to use when you are learning about month end processing or for troubleshooting purposes.

Use Month End Processing with Mutual Fund or Core Accounting

Mutual Fund Accounting clients and Core Accounting clients can use month end processing as follows:

Month end processing also can allows a Mutual Fund Accounting fund to report as-of activity in a separate month-end period while maintaining

its regular ledger period process.

In addition, mutual funds can use month end processing to calculate a month end NAV.

Use Month End Reporting with Core Accounting

Core Accounting clients can

report as-of activity in a separate month-end period while maintaining their regular ledger period process. For example, you can set up daily ledger periods and use month end processing in order to additionally generate monthly reports that reflect as-of activity.

AMANDA: does this table include the right panels in the right order? is it accurate on what applies only to MF or core?

Understand the Month End Processing Workflow

You can manually perform month end processing and valuation for entities that use month end processing. The high-level tasks you can perform manually.

Task

Panel Name

Event Type

Comments

Push STAR to PACE Batch for the month end accounting date.

Transfer Data - Batch

GEN_STAR_PACE

Populate month end balances.

Populate Month End Ledger Balances

POPULATE_MONTHLY_LEDGER_BAL

Post month end class allocations.

Post Month Class Allocations

TRIGGERCLASSALLOC

Post month end sector allocations.

Post Month Sector Allocations

TRIGGERSECTORALLOC

Populate month end balances.

Populate Month End Ledger Balances

POPULATE_MONTHLY_LEDGER_BAL

You run Populate Monthly Ledger Balances twice, before and after allocations, for proper mutual fund processing

Calculate month end NAV.

Calculate Monthly NAV

Applies to Mutual Fund Accounting

Perform monthly portfolio turnover processing

Calculate Monthly Averages

INS_MKTVALUE_MNTHLY_AVERAGES

Used for monthly Portfolio Turnover reports

Perform month end STAR to PACE ledger push

Transfer STAR General Ledger Balances

GEN_STAR_PACE

Run month end net investment income (NII).

Applies only when you use NII and distributions use month end balances

Post Daily Fund Month End Valuation

Q_URGLPOSTME

MEURGL function wrapper in CC Schedule???

Amanda? Is it Post Daily Fund Month End Valuation panel? Or other URGL panels?

Process month end rec pay valuation.

Post Daily Fund Month End Rec Pay Valuation

Q_FX_URGLME

Push STAR to PACE Batch for the month end accounting date.

Transfer Data - Batch

GEN_STAR_PACE

Close month end accounting period.

Close Month End Accounting Period

MONTH_END_CLOSE

Close month end valuation period.

Close Monthly Valuation Period

MVALPERIODSET

Run month end reports.

Varies by client

Amanda EVBPS - ME Best Pricing Detail event? is there a panel? Does it vary by client?

Amanda MENRTT - is this the Month End NAV Reconciliation Report panel? (in CC schedule)

Amanda check_best_pricing_detail - what is it? is there a panel? does it vary by client?

Amanda Calculate Monthly Averages panel? (in CC schedule) - already documented for Portfolio Turnover processing. Is this part of month end processing? A: ask Amanda Jeff

V5.5 RN

Dorota Training Video

Maltby Month End Process Flow Diagram

Populate Month End Balances

Close Month End Valuation Period

Reopen Month End Valuation Period

Post Daily Fund Month End Valuation

Post Daily Fund Month End Rec Pay Valuation

Calculate Month End NAV

Post Month Class Allocations

Post Month Sector Allocations

Populate Month End Balances

Post Month Class Allocations

Post Month Sector Allocations

Month End NII (not demo’d)

Calculate Month End NAV

Post Daily Fund Month End Valuation

Transfer Data - Batch (S2P)

Close Month End Accounting Period

NOT SHOWN:

Close Month End Valuation Period (discussed but not demo-d)

Reopen Month End Valuation Period

Post Daily Fund Month End Rec Pay Valuation

lists processes, no panel names

Post As-Of Activity

Close Month End Transaction Period

Post URGL and MTM

Review Valuation Status

Trigger ME Unrealized

Trigger ME MTM

Close Month End Valuation Period

Valuation Close Events

Calculate Month End NAV

To report on monthly data in accounting reports in core accounting, you typically define:

• Entity/Basis. Set up entities to identify the end of the month.

• Month End Date Rule. Used by the entity to determine which day of the month to use for month end reporting. 

• Accounting Periods. After you set up an entity/accounting basis with daily accounting periods , the system creates the daily accounting periods, where each daily accounting period stores the monthly accounting date that corresponds to that daily period. The monthly accounting date reflects entity information such as the month end date rule.

• Transactions. Process transactions during the month. Eagle Accounting store two dates, accounting date and monthly accounting date (tag 4733), on every transaction in order to store and generate month end accounting data for daily portfolios. All of the panels located in the Cash, Fund, Ledger, Income, and Custody tabs include the monthly accounting date field. The system stores each transaction where the accounting date and monthly accounting date are different as as-of adjustments.

• STAR to PACE Direct Processing. When you use month end processing, you can use STAR to PACE Direct to transfer month end accounting data at the entity/accounting basis level.

• Maintain month end accounting periods. You can close the month end period each month.

• Run Month End Reports. When you run certain packaged accounting reports as month end reports, you can set Report Type to Month End Date.

To create month end activity, Eagle Accounting uses the daily accounting period balances as of the month end date plus the stored as-of activity for the monthly accounting date.

WRITERS NOTE: review bullet list above; did not have any source data. do Core Accounting clients use S2P to monthly report?

Use Month End Processing with Mutual Fund Accounting

Mutual Fund Accounting clients can use month end processing to report as-of activity in a separate month-end period while maintaining their regular ledger period process. The month end process for Mutual Fund Accounting includes specialized tasks needed for the calculation of a month end NAV.

Most Mutual Fund Accounting clients that use month end processing use Control Center to automatically schedule and perform the tasks that comprise month end processing. However, you can also perform many of those tasks manually by submitting the corresponding panels. This section describes those specialized panels, which you can use when you are learning about month end processing or for troubleshooting purposes. A description of these panels follows in .

Understand the Control Center Month End Module

Control Center provides a central location for you to view the daily or month end accounting status of funds (entities) or groups of funds. It is an exception based processing tool which tests the accuracy of accounting activity on a real time basis. You can group funds/entities in composite structures (multiple layers), allowing managers to view the status of an entire complex in a simple rolled up view.

Control Center’s Month End module was designed as a central location for you to monitor as-of monthly activity for Mutual Fund Accounting and see corresponding NAV impacts. After you use Control Center to perform a month end close, it runs a variety of scheduled events. Control Center’s Validation Status view helps ensure that an entity’s positions, including as-of activity, were successfully valued. As-of activity is transactions with an accounting date in the current monthly period, with an effective date or Month End Accounting date in the prior monthly period. Clients that produce adjusted monthly, quarterly, semi-annual, or annual books containing “as of” as-of transactions can use the Control Center Month End module to prove out the change in net assets (and NAV per share) from the last business day of the month to the “as of” as-of adjusted monthly net assets and NAV per share.

Control Center’s Month End module offers limited transaction related edit tests because the as-of transactions are tested in the ordinary daily process and reviewed in the daily Control Center module. Month End Control Center shows the month end (ME) pricing status for all the holdings on the last business day of the month, plus any adjustments for as-of trade activity. It also has a NAV Reconciliation proof, which is very similar to the daily report. The ME NAV Reconciliation proof pulls in the Net Assets and NAV per share from the last business day of the month, and all the as-of activity to explain the change in the monthly net assets and NAV per share. The proof also shows the corresponding NAV impacts for all the as-of activity.

Understand Year End Closeouts When You Use Month End Processing

For funds that use month end processing in Eagle Accounting, the year end close process works in a slightly different manner. For more information, see Understand Year End Processing.