Create Non-Distribution Schedules for Set Rate Distributions

In the Create Distribution Schedule panel, you can add a distribution schedule for use with set rate distributions. When you use set rate distributions, distribution schedules allow you to manage the non-distribution days in the distribution period. The system uses the non-distribution schedule to identify the days on which the set rate distribution process does not post a daily distribution. Set rate funds do not distribute income on the days following the last distribution payment date at the end of a calendar year but they still accrue expenses. For example, consider the 26th to 31st days of December.

You can also use distribution schedules with other types of distributions. For general information about creating and maintaining distribution schedules, see Manage Distribution Schedules.

To create a non distribution schedule for set rate distributions:

In Accounting Center, in the left navigation pane, click Setup > Fund Accounting > Distribution Schedules > Create Distribution Schedule.
You see the Create Distribution Schedule panel.
In the Entity Id and Entity Name fields, select the unique identifier and name of the master fund associated with the distribution schedule.
In the Acctg Basis field, select the accounting basis associated with the distribution schedule.
For set rate distributions, the system uses this accounting basis' expense balance to calculate the expense absorption during the non-distribution period.
In the Distribution Category list, click Non-Distribution.
This indicates that distribution schedule applies to a non-distribution period for set rate distributions.
In the Non-Distribution Begin Date and Non-Distribution End Date fields, enter the beginning date and the ending date of the non-distribution period.
In the Absorption Begin Date and Absorption End Date fields, enter the beginning date and ending date in which to absorb the calculated expense differential from the non-distribution period.
If the absorption end date is not equal to the absorption begin date, the system divides the expense differential calculated by the appropriate number of days in the absorption period to post a daily expense absorption value.
Click Submit.

Create Distribution Schedule Panel Options

In the Create Distribution Schedule panel, you can create a distribution schedule for periodic, set rate, or NII distributions. The following are the options in the Create Distribution Schedule panel.

Option	Tag	Description
Entity ID	1163	Specifies the master fund entity identifier.
Entity Name	1164	Specifies the master fund entity name. The system displays the name that corresponds to the selected Entity ID.
Accounting Basis	21	Specifies the accounting basis. For set rate distributions, the system uses this accounting basis' expense balance to calculate the expense absorption during the non-distribution period.
Distribution Category	744	Indicates the type of distribution processing that uses the distribution schedule. When you select a value, additional fields appear for each category. Options include: Periodic. When you process periodic distributions, the schedule identifies when the periodic distributions reach the ex-date. Non-Distribution. When you process set rate distributions, the schedule identifies a non-distribution period for the days not to post a daily distribution. Instead the process proportionally absorbs the expense differential activity for that non-distribution period. NII-Split. When you process net investment income (NII) distributions and use split dividend processing, the system uses a distribution schedule to identify split dividend ex-dates. Split dividend ex-dates determine when the system calculates split dividends. You can select this category if the entity has its Daily Distribution Method field (tag 3904) set to a value of Net Investment Income.
Automate Split Ex-Dates	1257	Indicates whether you want the system to add split dividend ex-dates for a specified date range to the distribution schedule or want to add split dividend ex-dates manually. Options include: Yes. Allows the system to add split dividend ex-dates to the distribution schedule for a specified date range. The system determines the dates based on the entity's NII split method, the entity's Earn Thru Rule and the entity's business calendar. When you select this value, the NII Split Period Begin Date field and the NII Split Period End Date field appear. The Day in Month field also appears if the entity uses mid month split dividend processing. No. Allows you to add individual split dividend ex-dates manually. When you select this value, the Ex Dt field appears. This field appears if you set the Distribution Category field to a value of NII-Split.
Distribution Type	736	Specifies the type of periodic distribution to which the schedule applies. Options include: Income Short Term Long Term Special This field appears if you set the Distribution Category field to a value of Periodic.
Share Class	34	Specifies the share class to which the periodic distribution posts. This field appears if you set the Distribution Category field to a value of Periodic.
Record Date	1694	Identifies the record date. This value can provide advance notice to the transfer agent for support of distribution events and assist in cash/operations reconciliation. This field is only for informational purposes. This field appears if you set the Distribution Category field to a value of Periodic.
Ex Date	65	Specifies the ex-date. An ex-date is the date on or after which a security is traded without a previously declared dividend or distribution. For schedules for periodic distributions, the ex-date identifies the periodic distribution ex-date. For schedules for split dividend processing, it identifies the actual split dividend ex-date. This field appears if you set the Distribution Category field to a value of Periodic. It also appears if you set the Distribution Category field to a value of NII-Split and set the Automate Split Ex-Dates field to No.
Pay Date	1275	Identifies the payment date. This value can provide advance notice to the transfer agent for support of distribution events and assist in cash/operations reconciliation. This field is only for informational purposes. This field appears if you set the Distribution Category field to a value of Periodic.
NII Split Period Begin Date	35	Specifies the start date of the date range for which the system adds split dividend ex-dates. When the system calculates the split dividend ex-date, it determines the Begin Date for that ex-date. This is the business day associated with the split dividend ex-date, which always is a non business processing date. This field appears if you set the Automate Split Ex-Dates field to Yes.
NII Split Period End Date	36	Specifies the end date of the date range for which the system adds split dividend ex-dates. When the system calculates the split dividend ex-date, it also determines the End Date for that ex-date. This is the next business day associated with the split dividend ex-date, which always is a non business processing date. This field appears if you set the Automate Split Ex-Dates field to Yes.
Non-Distribution Begin Date	71	Specifies the start date of the date range for the non-distribution period. During this period, the set rate distribution process does not post a daily distribution. In most cases, this occurs at the end of a calendar year after the last distribution payment date of the year. This field appears if you set the Distribution Category field to a value of Non-Distribution.
Non-Distribution End Date	73	Specifies the end date of the date range for the non-distribution period. During this period, the set rate distribution process does not post a daily distribution. This field appears if you set the Distribution Category field to a value of Non-Distribution.
Absorption Begin Date	220	Specifies the begin date of the date range in which to absorb the calculated expense differential from the non-distribution period. This field appears if you set the Distribution Category field to a value of Non-Distribution.
Absorption End Date	221	Specifies the end date of the date range in which to absorb the calculated expense differential from the non-distribution period. If the absorption end date is not equal to the absorption begin date, the expense differential calculated is divided by the appropriate number of days in the absorption period to post a daily expense absorption value. This field appears if you set the Distribution Category field to a value of Non-Distribution.
Day in Month	11948	Specifies the day of the month for the actual split dividend date if you use mid month split dividend processing. For example, if the ex-dates for a mid-month processing entity are January 23, February 23, and so on, you specify a value of 23. This field appears if you set the Automate Split Ex-Dates field to Yes and you select an entity with its Net Investment Income Split Method field (tag 5045) set to Mid-Month Split.