- Created by Nancy Cohn, last modified on May 24, 2024
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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.
WRITERS NOTE: not describing Month End Fx Source and Month End Fwd Price Source fields until we document Distribution NAV after this.
WRITERS NOTE: Month End Fields are available on both the Entity and Master Fund panels. But they only apply to master funds. Why are they available for entities?
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.
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: 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 | NOTE: Month End Fields apply only to master funds. | |
Month End Processing Indicator | 9697 | Indicates whether the master fund uses 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:
|
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:
WRITERS NOTE: this is Master Fund only. Not in entity panel. Do entities use month end processing? Does this field only apply to MF with Control Center? |
10/31 Month End | 10464 | Indicates whether you can override the value in the As of Month End Frequency field. Options include:
|
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.
WRITERS NOTE: not describing Month End Fx Source and Month End Fwd Price Source fields until we document Distribution NAV after this.
WRITERS NOTE: should mention As of Month End Frequency? Is this part of setup for month end processing or is it standard?
WRiTERS NOTE: we say that if you set Month End Processing Indicator plus Control Center Entity to Yes, the system creates monthly accounting periods. Does it create monthly accounting periods if you do not use Control Center? Is month end processing only available for Control Center users? Can both MF and IMF Control Center users use it?
WRITERS NOTE: we are not mentioning the Month End Date Rule. Assume it is not specific to month end processing? Or should we describe?
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