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When an open contract is cancelled, the following general ledger postings are required:
For a Buy to Open
Local Currency = Settle Currency = Base Currency:
Debit/Credit | G/L Account Name | G/L Account Number |
|---|---|---|
Debit | Investment Payable | 2002000100 |
Credit | Cost of Investments | 1010000100 |
Credit | Investment Interest Receivable | 1007000500 |
Local Currency = Settle Currency ≠ Base Currency:
Debit/Credit | G/L Account Name | G/L Account Number |
|---|---|---|
Debit | Investment Payable (Local) | 2002000100 |
Credit | Cost of Investments (Local) | 1010000100 |
Credit | Investment Interest Receivable (Local) | 1007000500 |
Debit | Investment Payable (Base) | 2002000100 |
Credit | Cost of Investments (Base) | 1010000100 |
Credit | Investment Interest Receivable (Base) | 1007000500 |
For a Sell to Open
Local Currency = Settle Currency = Base Currency:
Debit/Credit | G/L Account Name | G/L Account Number |
|---|---|---|
Debit | Cost of Investments | 1010000100 |
Debit | Investment Interest Payable | 2004000400 |
Credit | Receivable for Investments Sold | 1002000100 |
Local Currency = Settle Currency ≠ Base Currency:
Debit/Credit | G/L Account Name | G/L Account Number |
|---|---|---|
Debit | Cost of Investments (Local) | 1010000100 |
Debit | Investment Interest Payable (Local) | 2004000400 |
Credit | Receivable for Investments Sold (Local) | 1002000100 |
Debit | Cost of Investments (Base) | 1010000100 |
Debit | Investment Interest Payable (Base) | 2004000400 |
Credit | Receivable for Investments Sold (Base) | 1002000100 |