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This section provides several The following four scenarios provide examples of the Accounting Basis Lot Selection Rule options, described in ". You can specify a value for the Accounting Basis Lot Selection Rule ."
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Example of field at the entity/accounting basis level.
Scenario 1
This example uses the option, Use Basis Value Unless Event = IDLOT or VSP. In this scenario all three accounting bases utilize the same Accounting Basis Lot Selection Rule.
Additionally, all "basis specific" trades always use the lot selection method specified on the event. This is illustrated in Sale #4 in the following table that follows. Anchor
Event | Primary Basis | Secondary Basis | Non Primary Basis |
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Lot Selection Method |
FIFO | BEST TAX | FIFO | ||
Non Primary Basis Lot Selection Override |
Use Basis Value |
Unless Event = IDLOT or VSP | Use Basis Value |
Unless Event = IDLOT or VSP | Use Basis Value |
Unless event = IDLOT or VSP |
The following examples illustrate the required processing: |
Sale #1 | FIFO | FIFO | BEST TAX | FIFO |
Sale #2 | IDLOT | IDLOT | IDLOT | IDLOT |
Sale #3 | HCOST | FIFO | BEST TAX | FIFO |
SALE #4 basis specific (Secondary) | HCOST |
HCOST |
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Scenario 2
In this scenario:
Primary Basis: Use Event Value
Secondary Basis: If Event = Primary Basis use
basis table else use eventBasis Table Else use Event
Additional Non Primary Basis: If Event = Primary
basis use basis table else use eventBasis use Basis Table Else use Event
As with the previous scenario, all "basis specific" trades always use the lot selection method specified on the event. This is illustrated in Sale #4 in the following table that follows.
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Event | Primary Basis | Secondary Basis | Additional Non Primary Basis | |
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Lot Selection Method |
FIFO | BEST TAX | FIFO | |
Non Primary Basis Lot Selection Override |
Use Event Value | If Event = Primary Basis, then use basis table else use event | If Event = Primary Basis, then use basis table else use event | ||
The following examples illustrate the required processing: |
Sale #1 | FIFO | FIFO | BEST TAX | FIFO |
Sale #2 | IDLOT | IDLOT | IDLOT | IDLOT |
Sale #3 | HCOST | HCOST | HCOST | FIFO |
SALE #4 basis specific (Secondary) | LCOST |
LCOST |
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Scenario 3
In this scenario:
Primary Basis
-: Always use Event
Secondary Basis
-: If Event = IDLOT or VSP use IDLOT or VSP Else if Event = Primary Basis use Basis Table
Additional Non Primary Basis
-: Always Use Basis Value
Set When you set this value, Eagle Accounting uses the lot selection method set on the ESTAR_ACCT_BASIS table when determining the method for non primary basis's lot selection method, regardless of what lot selection method identified by the event specifies. This is illustrated in Sales 1 through 3 belowin the following table.
The only exception is that all "basis specific" trades always use the Lot Selection Method specified on the event. This is illustrated in Sale #4 in the following table that follows.
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Event | Primary Basis | Secondary Basis | Additional Non Primary Basis | |
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Lot Selection Method |
FIFO | BEST TAX | FIFO | ||
Basis Lot Selection Override |
Use Event Value | If Event = IDLOT or VSP, then use IDLOT or VSP else if Event = Primary Basis, then use Basis Table | Always Use Basis Value | ||
The following examples illustrate the required processing: |
Sale #1 | FIFO | FIFO | BEST TAX | FIFO |
Sale #2 | IDLOT | IDLOT | IDLOT | FIFO |
Sale #3 | HCOST | HCOST | HCOST | FIFO |
SALE #4 basis specific (Secondary) | IDLOT |
LCOST |
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Scenario 4: Primary and Non
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Primary
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Use Event
Primary Basis
- 1:
Always useUse Event Value
Non-Primary Basis
- 1:
Always useUse Event Value
The following table illustrates this scenario.
Event | Primary Basis | Secondary Basis | Additional Non Primary Basis |
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Lot Selection Method |
FIFO | BEST TAX | FIFO | ||
Basis Lot Selection Override |
1
1
Use Event Value | Use Event Value | Use Event Value | ||
The following examples illustrate the required processing: |
Sale #1 | FIFO | FIFO | FIFO | FIFO |
Sale #2 | IDLOT | IDLOT | IDLOT | IDLOT |
Sale #3 | HCOST | HCOST | HCOST | HCOST |