When you perform cash matching, if no open receivable/payable is available to settle a bank settlement, you can post a cash adjustment to create an open receivable/payable for cash. For example, you can receive a bank settlement related to a corporate action for a security you no longer hold, and have no open receivable/payable available for matching.
To post cash adjustments for bank settlements:
- In Accounting Center, in the left navigation pane, click Transactions > Cash > Cash Matching.
You see the Cash Matching workspace. The Manual Matching tab is active by default. - Select the Manual Matching tab,.
- Search for the bank settlement or open receivable/payable for which you want to create a cash adjustment.
- Select the check box of the bank settlement or open receivable/payable.
- On the Cash Matching tab, in the Actions group, click Post Cash Adjustments, and then select one of the following options:
– Post Miscellaneous Income/Expense, Lot Specific
– Post Miscellaneous Expense
– Post Miscellaneous Expense, Asset Specific
– Post Miscellaneous Income
– Post Miscellaneous Income, Asset Specific
– Miscellaneous Income Adjustment - Class Specific
– Miscellaneous Expense Adjustment - Class Specific
– Allocate Miscellaneous Income Across Lots
You see the panel for the selected miscellaneous income/expense option. The system uses the selected bank settlement or open receivable/payable to fill in as many values as possible on this panel, such as security information and bank account information. - Ensure that the Settle Trade Indicator field has a value of No.
You do not want the Eagle system to automatically process the cash settlement if you intend to match a bank settlement to the open receivable/payable you are creating. - Complete the remaining options on the miscellaneous income/expense panel.
- Click Submit.
You see a newly created open receivable/payable for the cash adjustment in the Manual Matching tab. You can now match the bank settlement to the open receivable/payable.
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