Set Up Entities for Month End Processing

You can set up entities, master funds, and accounting bases to use month end processing. Setup varies for core accounting portfolios and for master funds.

If you use Control Center with month end processing, note that additional setup is needed.

Set Up Entities and Master Funds for Month End Processing

You can identify the entities and master funds that use month end processing and specify criteria used during processing.

To set up entities and master funds for month end processing:

From any Eagle window, click the Eagle Navigator button to access the Eagle Navigator.
Enter the panel name to add or change a basic accounting entity or master fund in the Start Search text box.
You can specify options related to Month End Fields using the Create/Edit Entity panel, Create Master Fund panel, or Edit Master Fund/Sector panel. You can specify additional options for Period Close Fields only for master funds. These panels are available in Portfolio Data Center and in Accounting Center.
Click the link to access the panel.
Specify the values described in the following table, as appropriate.
Complete the remaining options on the panel.
Save your changes.

Create/Edit Entity and Create Master Fund Panel Options - Month End Processing Related Fields

The following are the options in the Create/Edit Entity panel and the Create Master Fund panel that relate to month end processing.

WRITERS NOTE: updated some of these definitions. please review.

WRITERS NOTE: not describing Month End Fx Source and Month End Fwd Price Source fields until we document Distribution NAV after this.

Option	Tag	Description
Core Accounting Fields
Month End Date Rule	6161	ORIGINAL Definition: Determines whether the system uses the last calendar day or the last business day of the month as the monthly accounting date. If you select the month end date rule, the system uses the last calendar day of the month. However, if you select a business calendar from the Calendar Name field, the system uses the last business day of the month. The month end accounting date is stored on all transactions booked to Eagle's Accounting solution. This allows you to book as-of activity in the current accounting period but reflect the transaction in the monthly period that it actually occurred in. This allows you to report these transactions in the correct month end report without having to reopen closed daily valuation and accounting periods. You can generate several ledger and subledger reports based on the month end accounting date. You can also create custom month end date rules using the Add Month End Date Rule panel. You cannot edit this field after you create the entity. Updated Definition: Identifies the month end date rule that the entity uses to determine how the system identifies the monthly accounting date for an entity or master fund. You can select the default rule, DEFAULT, to use the last calendar day of the month as the monthly accounting date. You can also create your own custom month end date rules and specify a rule in this field. You cannot edit this field after you create the entity. The system stores the month end accounting date on all transactions booked to Eagle's Accounting solution. so it books as-of activity in the current accounting period but reflects the transaction in the monthly period in which it actually occurred. This allows you to report these transactions in the correct month end report without having to reopen closed daily valuation and accounting periods. You can generate several ledger and subledger reports based on the month end accounting date.
Month End Fields
Month End Processing Indicator	9697	Indicates whether the accounting basis is using month end processing, which allows you to report transactions in the correct month end report without having to reopen closed daily valuation and accounting periods. Options include: Yes. The bases uses month end processing. If you set both this field and the Control Center Entity field to Yes, messages are sent to establish month end accounting periods, which is necessary to view funds in Control Center. Additional fields in this section become available. No. The basis does not use month end processing. WRITERS NOTE: need help. Current definition describes Control Center behavior. Does the system uses this field to open month end accounting periods for portfolios too? Is this field specific to mutual fund accounting? If so, why is it on Create Entity panel? How does it affect core accounting portfolios with monthly reports?
Month End Long Price	9676	Specifies the master fund’s month end pricing source for long positions. This option appears only if you set the Month End Processing Indicator field to Yes.
Month End Short Price	9677	Specifies the month end pricing source for short positions. This option appears only if you set the Month End Processing Indicator field to Yes.
Month End System Close Business Day	12093	Specifies the number of business days after the month end date that the automated close occurs for the master fund. This option is used in the Control Center to automatically close the month period. Any month end errors that exist on the day of automated month end close need to be overridden in Control Center in order to close the month end period. This hidden field appears only if you set the Month End Processing Indicator field to Yes. When the month end transaction close is automatically closed or manually closed in Control Center, the new month end ledger to subledger process is scheduled to run for transaction related accounts. The month end ledger to subledger process is also scheduled to run for valuation related accounts when a month end valuation close is either manually or automatically triggered. You must enter a value to use the Potential As of Activity report.
Potential As Of Activity Business Days	12094	Specifies the number of business days after month end close for the potential as-of activity period for the master fund. The Potential as of Ledger Activity report uses this field to determine how as-of ledger activity impacts the prior month end period. This includes transactions where the trade date, ex date, effective date, and settlement date are prior to the month end date, and are posted to the general ledger on the first business day after month end close up through the number of days in the Potential As of Activity Business Days field. This field appears only if you set the Month End Processing Indicator field to Yes.
Period Close Fields
As of Month End Frequency	10463	Specifies a frequency for month end processing for a master fund. This value indicates which month ends are left open for as-of transactions. It is used with Control Center to automate the closing of month end periods. Options include: None. Default. The fund is considered a Live fund and there is no month end reporting. The system uses the daily period to report month end transactions. The Control Center automatically closes the month end periods for the fund when the daily accounting period is closed. Monthly. Control Center does not automatically close the month end periods for the fund when the daily accounting periods are closed. You are able to close the month end periods at any time. Quarterly. Control Center automatically closes the non quarter-end periods for the fund when the daily accounting period is closed. Semi-Annually. Control Center automatically closes the non semi-annual periods for the fund when the daily accounting period is closed. Annually. Control Center automatically closes the non-annual periods for the fund when the daily accounting period is closed. WRITERS NOTE: this is Master Fund only. Not in entity panel.
10/31 Month End	10464	Indicates whether you can override the value in the As of Month End Frequency field. Options include: No. Default. The system uses the value in the As of Month End Frequency field. Yes. The system prevents the automated closing of month end accounting periods when using the Control Center. WRITERS NOTE: this is Master Fund only. Not in entity panel.

Set Up Accounting Bases for Month End Processing

You can identify the accounting bases that use month end processing and specify criteria used during processing.

To set up accounting bases for month end processing:

From any Eagle window, click the Eagle Navigator button to access the Eagle Navigator.
Enter the panel name to add or change an accounting basis in the Start Search text box.
You can specify options related to contract cash using the Add a Basis to a Portfolio or Edit a Basis on a Portfolio panels. These panels are available in Portfolio Data Center and in Accounting Center.
Click the link to access the panel.
Under Month End Fields, specify the values described in the prior table, as appropriate.
The Month End System Close Business Day field and the Potential As Of Activity Business Days field are not available at the basis level.
Complete the remaining options on the panel.
Save your changes.

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