Reclassify Reclaim Amounts

Owned by Nancy Cohn (Deactivated)
Last updated: Dec 08, 2023
1 min read

In the Reclass Reclaim Amount panel, you can reclassify the tax withholding, tax reclaim, and the dividend or coupon amount. Note that Eagle Accounting only reclassifies open coupon or dividend payments. If the tax withholding and reclaim on a settled coupon or dividend needs to be adjusted, you must cancel the settlement. After cancelling, you can process the tax adjustment.

You cannot reclassify Avoir Fiscal posting and stock dividend withholding in the Reclass Reclaim Amount panel. If the rates are incorrect for an Avoir Fiscal posting or for a stock dividend, you need to adjust the rates in the Tax table, and reprocess the cash dividend or stock dividend.

To reclassify reclaim amounts:

  1. In Accounting Center, in the left navigation pane, click Transactions > Cash > Reclass Reclaim Amount > Reclass Reclaim Amount. 
    You see the Reclass Reclaim Amount panel.

  2. Select the entity and security for the amount you want to reclassify.
    You see the Tax Accounting Method value for the selected entity. You see the Security Type and Instrument values for the selected security.

  3. Select date criteria to identify the amount you want to change in the Dividend Ex Date or Coupon Period Date and Accounting Date fields.
    You see information for the amount you selected.

  4. Complete the remaining fields on the panel to adjust the tax or reclaim amounts. You can change specific values depending on the type of amount you selected. You can provide new values for:
    - Gross Withhold Tax Local, New Value
    - Net Coupon or Div Amount Local, New Value
    - Net Withhold Tax Expense Local, New Value
    - Reclaim Receivable Local, New Value

  5. Click Submit.

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