In the Journal to Cover panel, you can merge a long and short position for the same asset/entity combination into one position.
To manually book a journal to cover trade for an equity security:
- In Accounting Center, in the left navigation pane, click Transactions > Trades > Book Trade/Rebook Trade > Book Trade.
You see the Book Trade workspace. - Complete the options in the Search Details pane and click Search.
You see the search results based on the criteria you selected. - Select the row with the security you want to trade.
- On the Book Trade tab, in the Actions group, click Action Rules, point to Other and click Journal to Cover.
You see the Journal to Cover panel. - Complete the options on the Journal to Cover panel.
- Click Submit.
Journal to Cover Panel Options
The following are the options in the Journal to Cover panel. Note options may vary according to your selections.
| Option | Tag | Description |
|---|---|---|
| Entity Information | ||
| Entity ID | 1163 | Specifies the unique identifier of the entity. |
| Entity Name | 1164 | Specifies the name of the entity. |
| Base Currency | 86 | Displays the base currency of the entity. |
| Long Position Information | ||
| Trade Date | 35 | Specifies the effective date of the trade. The trade date cannot be greater than the post date, accounting date, or settlement date. |
| Accounting Date | 36 | Specifies the date the trade is reported and has an effect on the entity's holdings and cash balances. The accounting date must be greater than the trade date. |
| Monthly Accounting Date | 4733 | Displays the month end accounting date. |
| Settlement Date | 37 | Specifies the date the trade is settled. |
| Event Type | 55 | Displays the business intent of the transaction. |
| Xref Type | 1234 | Displays the cross reference type associated with the security. |
| Xref ID | 1233 | Specifies the cross reference identifier associated with the security. |
| Issue Name | 961 | Specifies the name of the security. |
| Ticker | 13 | Specifies the trade ticker of the security. |
| Primary Asset ID | 14 | Specifies the primary asset identifier associated with the short position. |
| Long/Short Indicator | 355 | Displays an L to indicate the position is long. |
| Instrument Type | 353 | Displays the instrument type. |
| Security Type | 371 | Displays the security type of the asset. |
| Issue Currency | 360 | Displays the local currency of the security. |
| Position Quantity | 159 | Displays the current quantity of the position. |
| Transfer Quantity | 366 | Specifies the quantity that is being transferred from the source position. |
| Custodian Bank Name | 1146 | Specifies the name of the custodian bank responsible for the trade. The field lookup allows you to select the custodians that have bank account relationships defined for the entity or for the composite associated with the entity. When you select a value, the system displays values for the Custody Bank Account Number field, Custody Bank Subaccount field, Cash Account Name field and Cash Account Number field, based on the bank account relationships and cash account relationships that apply to the transaction. NOTE: You must establish a relationship between the custodian bank and your entity prior to booking the trade. |
| Custodian Bank Code | 1240 | Specifies the code of the custodian bank. |
| Custody Bank Account Number | 1660 | Specifies the custodian bank primary account number. The panel displays the value associated with the selected bank account relationship for the custodian. |
| Custody Bank Subaccount | 1661 | Displays the custodian bank subaccount number. When you use cash segregation, the panel displays a value of OTHER as the custodian bank subaccount number for the transaction. |
| Short Position Information | ||
| Issue Name | 1173 | Specifies the name of the security. |
| Issue Symbol | 313 | Specifies the trade symbol of the security. |
| Primary Asset ID | 314 | Specifies the primary asset identifier associated with the short position. |
| Long/Short Indicator | 305 | Displays an S to indicate the position is short. |
| Instrument Type | 303 | Displays the instrument type. |
| Security Type | 321 | Displays the security type of the asset. |
| Issue Currency | 310 | Displays the local currency of the security. |
| Position Quantity | 122 | Displays the current quantity of the position. |
| Transfer Quantity | 316 | Specifies the quantity that is being transferred from the source position. |
| Custodian Bank Name |
| 9409 | Specifies the name of the custodian bank responsible for the trade for the short position. The field lookup allows you to select the custodians that have bank account relationships defined for the entity or for the composite associated with the entity. When you select a value, the system displays values for the Custody Bank Account Number field, Custody Bank Subaccount field, Cash Account Name field and Cash Account Number field, based on the bank account relationships and cash account relationships that apply to the transaction. NOTE: You must establish a relationship between the custodian bank and your entity prior to booking the trade. |
| Custodian Bank Code |
| 9410 |
| Specifies the code of the custodian bank. |
| Custody Bank Account Number |
| 9411 |
| Specifies the custodian bank primary account number. The panel displays the value associated with the selected bank account relationship for the custodian. |
| Custody Bank Subaccount |
| 9749 | Displays the custodian bank subaccount number. When you use cash segregation, the panel displays a value of OTHER as the custodian bank subaccount number for the transaction. | |
| Settlement Information | ||
| Settle Instructions 1 | 1897 | Allows you to add settlement notes. |
| Settle Instructions 2 | 1898 | Allows you to add settlement notes. |
| Settle Instructions 3 | 1899 | Allows you to add settlement notes. |
| Settle Instructions 4 | 1900 | Allows you to add settlement notes. |
| Settle Location | 43 | Specifies the location in which the trade is settled. |
| Other Information | ||
| Transaction Notes | 56 | Contains user defined information about the trade. |
| Original Trade Ticket Number | 761 | Contains the trade ticket identification number. The system uses it during processing. For example, IDLOT close or cancel events use this number to locate an open lot. |
| Holding Term | 9091 | Specifies the holding term for the trade based on the number of days between the original acquisition date (tag 216) and the maturity date (tag 35) on the lot. If you use ledger reporting based on ledger granularity rules to break out accounts by holding term, the system uses this value to identify the holding term for trades related to bonds and preferred stocks. Eagle Accounting's core transaction processing calculates the holding term for you, but you can manually override the value displayed in this field. Eagle Insurance clients that use ledger granularity rules have the system calculate the holding term based on the schedule associated with a lot. Options include:
|
| Pending Trade Flag | 3695 | Specifies whether the trade is eligible for pending trade processing prior to processing by the STAR accounting engine. If you use pending trade processing, the system can assign this value to incoming transactions that meet flagged position rule criteria. Or an incoming transaction can include this value. This field is hidden. Options include Y and N. |
| Pending Trade Status | 3720 | Specifies the trade's transaction status for pending trade processing prior to processing by the STAR accounting engine. If you use pending trade processing, the system can assign a value of Pending to incoming transactions that meet flagged position rule criteria. Or an incoming transaction can include a value of Pending or a custom pending transaction status value defined in the PEND_TRD_STATUS code category. The default status is Pending if no status is provided. This field is hidden. |
| User Defined Priority | 2862 | Specifies the user generated number that determines the event sub priority. That is, after the system accounts for the event sequence and corporate action sequence. |