Process Miscellaneous Income/Expense

Owned by Tom Fahey (Unlicensed)
Last updated: Sept 28, 2016 by Former user (Deleted)
3 min read

Eagle's Accounting solution allows you to post miscellaneous income or expenses at a security level (Asset Specific) or simply against a currency.

Posting with the Miscellaneous Income/Expense Asset Specific options stores the open income receivable/payable at the security level when the data is pushed to the Eagle data warehouse. This is done so it can be reflected at the security level for performance purposes. The cash balance in the Eagle data warehouse does not reflect this cash until it has been physically settled via the contract cash rule or from a manual settlement.

If a cash adjustment is required that does not impact a specific security, Eagle recommends that you use the Post Miscellaneous Income or Post Miscellaneous Expense panel and post the transaction against a specific currency. If a cash adjustment affects specific lots, you can use the asset specific panels to post miscellaneous income or expense to an open or close lot.

Content on this page:

Post Miscellaneous Income/Expense

To post miscellaneous income or miscellaneous expense:

  1. From any Eagle window, click the Eagle Navigator button to access the Eagle Navigator.
  2. Enter Post Miscellaneous in the Start Search text box.
    You see several options related to viewing and maintaining miscellaneous income and expense.
  3. Click one of the following links in the Accounting Center to access the panel:
    –  Post Miscellaneous Expense
    –  Post Miscellaneous Expense, Asset Specific
    –  Post Miscellaneous Income
    –  Post Miscellaneous Income, Asset Specific
    You see the Post Miscellaneous Expense panel.

    Or, you see the Post Miscellaneous Income panel.
  4. Complete the options on the panel.
  5. Click Submit.
  6. Close the panel bottom tab to return to the Accounting Center.

Example - Post a Miscellaneous Expense

Each Income or Expense panel requires you to enter the Entity ID, Income/Expense Date, Settlement Date, Currency Code, Rec/Pay Event Type (set up during implementation based on your requirements), and Local Amount field values. If you select an Asset Specific panel, you are required to enter a Security Identifier field value.

As with cash contributions/withdrawals, you can also set up the Settle Trade Indicator field during income/expense entry to auto settle, that is, not only to set up the receivable or payable cash activity, but to process the cash settlement as well.

The following example shows data you enter in the Post Miscellaneous Expense panel.

 
 
The usage of the Rec/Pay Event Name field is for classification purposes only. The cash effect of the sample processed expense is properly displayed in the Cash Journal report.

 

Example - Post a Miscellaneous Income Asset Specific Entry

When you post a Miscellaneous Income/Expense Asset Specific entry, you need to enter a specific security identifier into the panel.

The following example shows data you enter in the Post Miscellaneous Income Asset Specific panel.


 

 
You are also required to enter the transaction units in the Units field. This field has no accounting usage, but can be used for reporting.

 

The Cash Journal report displays the issue name of the selected security for the asset specific income activity.

Post Interest on Cash

To post an interest on cash transaction so that it impacts your portfolio return, use the Post Miscellaneous Income Asset Specific panel.

To post an interest on a cash transaction:

  1. From any Eagle window, click the Eagle Navigator button to access the Eagle Navigator.
  2. Enter Post Miscellaneous Income, Asset Specific in the Start Search text box.
  3. Click the Post Miscellaneous Income, Asset Specific (Accounting Center) link to access the panel.
    You see the Post Miscellaneous Income, Asset Specific panel.
  4. In the Rec/Pay Event Name field, select INTEREST INCOME.
  5. In the Cross Reference ID field, select INTEREST ON CASHUSD.
    If the interest is in a current other than USD, you need to add a new security.
  6. In the Units field, select a default value of 1.
  7. In the Local Net Amount field, enter the amount of interest.
  8. Complete the remaining options on the Post Miscellaneous Income, Asset Specific panel.
  9. Click Submit.
  10. Close the Post Miscellaneous Income, Asset Specific bottom tab to return to the Accounting Center.