In order to To use same lot selection, you identify the controlling basis and the non-controlling bases for each entity that uses same lot selection results. The You can use the Controlling Basis field (tag 4949) defined at the accounting basis level identifies the to identify the accounting basis that controls lot selection for closing transactions . Non and the non-controlling bases that attempt to close the same lots that the controlling basis did.
For example, entity A Sample Entity is comprised of primary basis A, secondary basis B , and secondary basis C. You assign secondary basis B as the controlling basis and assign primary basis A as a non-controlling basis. During close transactions for primary basis A and secondary basis B, the system uses the lot selection results specified by the controlling basis, secondary basis B, in order to keep those bases in sync. If you do not want secondary basis C to use same lot selection results processing to keep it that basis in sync with the other bases, you can indicate that it is neither a controlling or a non-controlling basis, In that event when the system closes transactions for secondary basis C, it does not use same lot selection processing. Instead, it uses the lot selection results associated with the lot selection method specified for secondary basis C.
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Same lot selection processing is not available for an entity/basis that uses a cost method of average cost. |
To assign a controlling or non-controlling basis to an entity:
- From any Eagle window, click the Eagle Navigator button to access the Eagle Navigator.
- Enter the panel name to create or edit a basic accounting entity, master fund, or accounting basis in the Start Search text box.
You can use the Create/Edit Entity panel, Create Master Fund panel, Edit Master Fund/Sector panel, Add Basis to a Portfolio panel, and Edit a Basis on a Portfolio panel. You can select the entity or master fund panel to identify a primary basis as controlling, or can select an accounting basis panel to identify a secondary basis as controlling. - Click the link to access the panel.
- Click the Controlling Basis field, and select one of the following options:
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- Yes. Indicates that the accounting basis is the controlling basis for the entity during same lot selection. The controlling basis is the accounting basis that controls lot selection for closing transactions. An entity can have a single controlling basis. You can designate a primary or a non primary basis as the controlling basis.
- No. Indicates that the accounting basis is a non-controlling basis for the entity during same lot selection. A non-controlling basis attempts to close the same lots that the controlling basis closed.
- Empty. Indicates that the accounting basis does not participate in same lot selection. - Complete the remaining fields on the panel.
- Save your changes.
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WRITERS NOTE: in conjunction with this topic, we should update the existing Controlling Basis field description in basis-related panels. The original definition was written when we added Manual Same Lot Selection and applies only to trades. |
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| Controlling Basis | 4949 | Indicates whether the selected accounting basis is the entity's controlling or non-controlling basis for use with for same lot selection processing. Same lot selection allows the system to relieve the same lots across multiple bases in order to keep lots in sync across bases. Options include:
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| Controlling Basis | 4949 | Indicates whether the selected accounting basis is the entity's controlling basis for use with for same lot selection. Same lot selection allows the system to relieve the same lots across multiple bases in order to keep lots in sync across bases. Non controlling bases attempt to close the same lots that the controlling basis did. An Options include:
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Update to Add a Basis to a Portfolio Panel
| Controlling Basis | 4949 | Indicates whether the selected accounting basis is the entity's controlling basis for use with for same lot selection. Same lot selection allows the system to relieve the same lots across multiple bases in order to keep lots in sync across bases. Non controlling bases attempt to close the same lots that the controlling basis did. An Options include:
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