In the Create Mixed Basis Rule Details panel, you can create mixed cost basis rule details for a mixed cost basis rule. You can define multiple mixed cost basis rule details for a given rule.
To create mixed cost basis rule details:
- Do one of the following:
- In Portfolio Data Center, in the left navigation pane, click Portfolio Desk > Accounting Portfolio Rules > Mixed Cost Basis Rules > Create Mixed Cost Basis Rule Details.
- In Accounting Center, in the left navigation pane, click Setup > Portfolio Rules > Mixed Cost Basis Rules > Create Mixed Cost Basis Rule Details.
You see the Create Mixed Cost Basis Rule Details panel. Complete the options on the Create Mixed Cost Basis Rule Details panel.
When you choose a lot selection method, keep in mind that:
- Eagle Accounting uses a single category method for calculating average cost. FIFO is the recognized method of lot selection for mutual funds when using a single category method for calculating average cost.
- Certain lot selection methods are not relevant when using average cost, such as: High Cost, Low Cost, High Amortized Cost, Low Amortized Cost. You can select those methods for the entity lot selection method if the default uses Identified Cost, but they should not be the lot selection method used when either the entity uses average cost, or a mixed cost basis rule sets up an override of average cost for a single processing security type or group of processing security types.Click Submit.