Before you create In order to use period close rules, you use each must set up the Accounting Period Rule field (tag 2300) for each entity.
The system uses the entity's Accounting Period Rule Date field (tag 2300) to indicate the criteria that the system uses to identify the period close rules field in order to assign the accounting date for a transaction during processing. It also derives the accounting date based on the transaction's effective date (trade date) and based on the accounting period that is open at time of processing. Options include:
Trade Date. Default. When the system assigns the accounting date 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.
...
WRITERS NOTE: update entity fields used; remove Accounting Date Rule group? Used for other purposes? update on other panels too.
...
, the accounting date is equal to the effective date (trade date) of the transaction if the accounting period is open. Otherwise, the system uses the latest open accounting period.
Trade Date + 1 Business Day. Also called T + 1. When the system assigns the accounting date for the entity's transactions and the accounting period is open, it uses the period close rules to verify whether the processing event is eligible for an accounting date that occurs one business day after the trade date. For processing events included in the period close rules, it uses T + 1 to assign the accounting date, using the effective date plus one business to assign the accounting date. For processing events excluded from the period close rules, it uses the effective date (trade date) of the transaction to assign the accounting date. Otherwise, if the accounting period is not open, the system uses the latest open accounting period.