Write Off Securities

In the Writeoff Security panel, you can permanently write off a debt or equity security and remove units from the account. The writeoff reduces the position quantity and cost of the security to zero and generates a loss for the full amount of amortized cost. The term of the loss, long term or short term, is based on the writeoff's transaction date. No cash is generated and any period to date interest that is in a receivable status at the time of the writeoff is rolled back. Writeoffs are typically used to remove a distressed holding from an account.

To write off a security:

1. From any Eagle window, click the Eagle Navigator button to access the Eagle Navigator.
2. Enter Book Trade in the Start Search text box.
3. Click the Book Trade (Accounting Center) link to access the Book Trade tool.
   You see the Query window as the default.
4. Complete the options in the Query window and click Start Search.
5. Select the row with the security you want to write off.
6. Click Other and click Writeoff.
   You see the Writeoff Security panel.
7. Complete the options on the Writeoff Security panel.
   Ensure that you assign the Event Type field a value of WRITEOFF.
8. Click Submit.