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Entities need specific pieces of data, which can be populated using Create/Edit Entity (V17):.
- Control Center Entity (10462): indicates if you can view an entity's status using the Control Center
No: the system does not allow you to view the entity status using the Control Center (this is the default)Yes: the system allows you to view the entity status using the Control Center- All edit test procedures check this flag to ensure the entity is set up as a Control Center entity
- When you select
Yes, additional fields in this section become available
- Trading Gain/Loss Rule Id (9231): specifies the trading gain/loss rule for the entity
- The trading gain/loss process determines the impact of a trade by comparing a transaction's trade price to the prior market price
- This option is required if you set the Control Center Entity field to Yes. Options include:
DEFAULT INCLUDE: tests new purchases by using the current day market exchange price.DEFAULT EXCLUDE: does not post trading gain/loss for new security purchases.
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- The trading gain/loss calculation takes accounting date as the reference point for considering the previous day market value in the sell trade formula.
See attached:
REPORTING
To see trading gain loss posting search in accounting journal by memo accounts (7191) - YES