The entity setup for cash sweep processing varies follows.

Set Up Entities for Cash Sweeps

When you set up an entity to process cash sweeps, you identify the STIF sweep asset at the entity level. You set the entity's Cash Sweep field to Yes, and you complete the following fields in the Accrue Cash Balance Fields section of the panel.

• Cash Sweep (tag 4515). Indicates whether the system can perform cash sweeps into a short term investment fund (STIF) security for the entity. Options include:

  • No. Default. The system does not sweep the entity's uninvested cash balance into a Short Term Investment Fund (STIF) security. 

  • Yes. The system sweeps the entity's uninvested cash balance into a STIF security. If you select Yes, you must specify values for the Lookup STIF Issue Name and Lookup STIF Asset ID fields. 

• Minimum Balance (tag 16726). Specifies the amount of the minimum balance needed in order for the system to perform a cash sweep into a STIF for the entity. You must specify a positive number. If you specify a value and the cash balance is positive, the system sweeps cash into a STIF for the entity and creates cash sweep transactions only if the balance is equal to or greater than the minimum balance. If you specify a minimum balance and the cash balance is negative, sweep processing always occurs to cover that negative balance.

• Lookup STIF Issue Name (tag 301). Specifies the issue name of the STIF security associated with cash sweeps for this entity. You can select a Short Term Investment Fund/Vehicle with a processing security type of STIF (DBSTST) or Mutual Fund (EQEQMF) for use with cash sweep processing. For Eagle Accounting to process the cash sweep, the STIF security’s asset currency must match the entity’s Account Base Currency (tag 86) value. This field appears when you set Cash Sweep to Yes.

• Lookup STIF Asset ID (tag 364). Specifies the primary asset ID of the STIF security associated with cash sweeps for this entity . You can select a Short Term Investment Fund/Vehicle with a processing security type of STIF (DBSTST) or Mutual Fund (EQEQMF) for use with cash sweep processing. For Eagle Accounting to process the cash sweep, the STIF security’s asset currency must match the entity’s Account Base Currency (tag 86) value. This field appears when you set Cash Sweep to Yes.