Before you create use period close rules, you use set up each entity's Accounting Period Rule Date field (tag 2300). The system uses the Accounting Period Rule field value when it determines how to set the accounting date for a transaction. indicate the criteria that the system uses to identify the period close rules for the entity's transactions.
If the entity uses period close rules applied across a group of funds, you use the Accounting Date Rule Group field (tag 4303) to identify the entity group that has period close rules used by the entity. These fields appear in the Create/Edit Entity panel and the Create Master Fund panel.
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WRITERS NOTE: update entity fields used; remove Accounting Date Rule group? Used for other purposes? update on other panels too.
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Options include:
- Trade Date. Default. When the systems set the accounting date for a transaction, the accounting date is equal to the trade date if the accounting period is open. Otherwise, the system uses the latest open accounting period.
- Trade Date + 1 Business Day. If you select this value, you can set up
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- period close
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- rules using the Add Period Close Rule panel
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- to identify the types of transactions that use Trade Date + 1 Business Day to identify the accounting date. For included transactions, when the systems set the accounting date for a transaction, the accounting date is equal to the trade date plus one business day if the accounting period is open
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- . Otherwise, the system uses the latest open accounting period.