This page describes some of the coupon period fields that you can use when you set up fixed income securities for use with Eagle Accounting. Also see the pages for additional options, About the Coupon and Coupon Type Code Fields, About Day Count Basis, and About Payment Frequencies.
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Coupon Day of Month (tag 10551). Specifies the day of the month in which the coupon is payable. If you select a value for Business Day Convention (tag 1536) other than None, you must specify the day of the month on which the coupon pays. You can enter a value from 1 to 31.
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If you want to set up a security that pays on the fourth Thursday of every month, you must set the Payment Frequency field to Monthly and the Day of Month Override field to WDC (Week Day of First Coupon). Eagle Accounting then determines which day of the month is the First Coupon Date, and generates the coupon schedule from that point forward. Again, note that the First Coupon Date and Last Coupon Date must be in sync, based on the Payment Frequency field and Day of Month Override values. An example of this setup follows. The following figure shows the Issue Viewer tool's Long Term Debt panel.
Interest Payment Timing
Interest Payment Timing (tag 1523). Determines the coupon dates, when more than one possible set of coupon dates can be calculated. If you leave the field value null, by default Eagle Accounting uses the last day of the month for calculating coupons. For example, if the First and Last Coupon Dates of a security are the fifteenth of a month, and you entered Last Day of the Month in the Interest Payment Timing field, the Eagle Accounting earnings process recognizes that the Interest Payment Timing frequency is an invalid entry. Options include:
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- B (Business). Uses business days to identify maturity delay days. The Business Calendar Name field (tag 1480) identifies the security's business calendar.
- C (Calendar). Uses calendar days to identify maturity delay days.
Ex-Interest Days
Ex-Interest Days (tag 3941). Specifies the number of calendar days prior to the coupon date that Eagle Accounting uses to identify the ex-date for this fixed income security. The The system uses this value for the security only for entities that use ex interest processing, and only in cases where you did not provide an Ex Interest schedule for that security. Otherwise, if the entity uses ex interest processing and an if an Ex Interest schedule is available for the security, the system uses the schedule values rather than this security-level field to identify the ex-date. If no ex interest schedule exists for the security for an entity that uses ex interest processing, and you also do not define the Ex-Interest Days value on the security, Eagle Accounting processes the coupon as it normally does on coupon date, and does not use ex interest processing. Ex interest processing does not apply to cleared swaps and to securities trading flat. For more information, see About Ex Interest Processing.