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Month end processing allows a portfolio to report as-of activity in a separate month-end period while maintaining its regular ledger period process. While most clients that use month end processing are Mutual Fund Accounting clients, Core Accounting clients that use Eagle Accounting can also use month end processing.
Most clients that use month end processing also use Control Center or Automated Event Wrapper to automatically schedule and perform the tasks that comprise month end processing. However, you can also perform those tasks manually by submitting the corresponding panels.
The exact tasks you perform during month end processing and the order in which you perform them can vary, based on your organization’s business needs and how you utilize Eagle Accounting.
WRITERS NOTE: please review prior paragraph for accuracy and tone
AMANDA:
should we document the panels based on the CC schedule order? Does each client do it differently?
should we break down the workflow tasks into Transaction Close and Valuation Close sections? Or are those CC only concepts?
are the right panels included on this page?
Understand the Month End Processing Workflow for Transaction Close Events
tbd. is there a standard schedule this follows such as a CC schedule like CC-ME-Trigger-Val-CLose-Events? or does am I documenting a subset of those events? or an AEW schedule?
You can manually perform month end processing and valuation for entities that use month end processing. The high-level tasks you can perform manually as part of Transaction Close follow.
Task | Panel Name | Event Type | Comments |
|---|---|---|---|
Transfer Data - Batch | GEN_STAR_PACE | Moves the As Of month end positions to the Eagle data warehouse | |
Populate Month End Ledger Balances | POPULATE_MONTHLY_LEDGER_BAL | ||
Post Daily Fund Month End Rec Pay Valuation | Q_FX_URGLME | MEURGL function wrapper in CC Schedule??? Amanda? Is it Post Daily Fund Month End Valuation panel? Or other URGL panels? | |
Calculate Monthly NAV | Applies to Mutual Fund Accounting Amanda MCALCNAV - - is this the Calculate Monthly NAV panel? |
Do we add these to the transaction close workflow and document them? order? see 1.1.1 CC-ME-Trigger-Txn-Close-Events
Amanda MENRTT - is this the Month End NAV Reconciliation Report panel? (in CC schedule)
Amanda check_best_pricing_detail - what is it? is there a panel? does it vary by client?
Understand the Month End Processing Workflow for Valuation Close Events
You can manually perform month end processing and valuation for entities that use month end processing. The high-level tasks you can perform manually as part of Valuation Close follow.
Task | Panel Name | Event Type | Comments |
|---|---|---|---|
Transfer Data - Batch | GEN_STAR_PACE | ||
Populate Month End Ledger Balances | POPULATE_MONTHLY_LEDGER_BAL | ||
Post Month Class Allocations | TRIGGERCLASSALLOC | ||
Post Month Sector Allocations | TRIGGERSECTORALLOC | ||
Populate Month End Ledger Balances | POPULATE_MONTHLY_LEDGER_BAL | You run Populate Monthly Ledger Balances twice, before and after allocations, for proper mutual fund processing | |
Calculate Monthly NAV | Applies to Mutual Fund Accounting | ||
Calculate Monthly Averages | INS_MKTVALUE_MNTHLY_AVERAGES | Used for monthly Portfolio Turnover reports | |
Perform month end STAR to PACE ledger push | Transfer STAR General Ledger Balances | GEN_STAR_PACE | |
Run month end net investment income (NII). | Applies only when you use NII and distributions use month end balances | ||
Post Daily Fund Month End Valuation | Q_URGLPOSTME | ||
Post Daily Fund Month End Rec Pay Valuation | Q_FX_URGLME | ||
Transfer Data - Batch | GEN_STAR_PACE | ||
Close Month End Accounting Period | MONTH_END_CLOSE | ||
Close Monthly Valuation Period | MVALPERIODSET | ||
Varies by client |
Amanda EVBPS - ME Best Pricing Detail event? is there a panel? Does it vary by client?
Amanda MENRTT - is this the Month End NAV Reconciliation Report panel? (in CC schedule)
Amanda check_best_pricing_detail - what is it? is there a panel? does it vary by client?
Amanda Calculate Monthly Averages panel? (in CC schedule) - already documented for Portfolio Turnover processing. Is this part of month end processing? A: ask Amanda
V5.5 RN | Dorota Training Video | Maltby Month End Process Flow Diagram |
|---|---|---|
Populate Month End Balances Close Month End Valuation Period Reopen Month End Valuation Period Post Daily Fund Month End Valuation Post Daily Fund Month End Rec Pay Valuation Calculate Month End NAV Post Month Class Allocations Post Month Sector Allocations | Populate Month End Balances Post Month Class Allocations Post Month Sector Allocations Month End NII (not demo’d) Calculate Month End NAV Post Daily Fund Month End Valuation Transfer Data - Batch (S2P) Close Month End Accounting Period NOT SHOWN: Close Month End Valuation Period (discussed but not demo-d) Reopen Month End Valuation Period Post Daily Fund Month End Rec Pay Valuation | lists processes, no panel names Post As-Of Activity Close Month End Transaction Period Post URGL and MTM Review Valuation Status Trigger ME Unrealized Trigger ME MTM Close Month End Valuation Period Valuation Close Events Calculate Month End NAV |
The pages that follow in this section describe how to perform these tasks manually. Alternately you can use Control Center to automate month end processing and use Control Center schedules to perform these tasks for you.
Understand the Control Center Month End Module
should we mention here? how much? does it do a lot of these tasks too?
Control Center provides a central location for you to view the daily or month end accounting status of funds (entities) or groups of funds. It is an exception based processing tool which tests the accuracy of accounting activity on a real time basis. You can group funds/entities in composite structures (multiple layers), allowing managers to view the status of an entire complex in a simple rolled up view.
Control Center’s Month End module was designed as a central location for you to monitor as-of monthly activity and see corresponding NAV impacts. After you use Control Center to perform a month end close, it runs a variety of scheduled events. Control Center’s Validation Status view helps ensure that an entity’s positions, including as-of activity, were successfully valued.
Clients that produce adjusted monthly, quarterly, semi-annual, or annual books containing “as of” transactions can use the Control Center Month End module to prove out the change in net assets (and NAV per share) from the last business day of the month to the “as of” adjusted monthly net assets and NAV per share.
WRITERS NOTE: info from CC guide
Understand Year End Closeouts When You Use Month End Processing
For funds that use month end processing in Eagle Accounting, the year end close process works in a slightly different manner. For more information, see Understand Year End Processing.
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