Create Distribution Schedules for NII Distributions

Owned by Nancy Cohn (Deactivated)
Last updated: Aug 24, 2023
3 min read

In the Create Distribution Schedule panel, you can add a distribution schedule for a net investment income (NII) distribution that uses split dividend processing to split mil rates when ex-dates occur on non business days. You can use distribution schedules to store split dividend ex-dates. You can enter each split dividend ex-date manually or can have Eagle Accounting add dates for a given date range. 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. 

For information about selecting a split dividend processing method for a fund, see Set Up Master Funds for NII Distributions. For general information about maintaining distribution schedules, see Manage Distribution Schedules.

To create a distribution schedule for an NII distribution:

  1. In Accounting Center, in the left navigation pane, click Setup > Fund Accounting > Distribution Schedules > Create Distribution Schedule.
    You see the Create Distribution Schedule panel.

  2. In the Entity Name, Entity ID, and Acctg Basis fields, select the entity identifier, entity name, and accounting basis for the master fund associated with the NII distribution.

  3. In the Distribution Category list, click NII-Split.
    You can select this category if the entity has its Daily Distribution Method field (tag 3904) set to a value of Net Investment Income.

  4. In the Automate Split Ex-Dates field, indicate 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. 

  5. If you set the Automate Split Ex-Dates field to Yes, specify the NII Split Period Begin Date field value to define 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.

  6. If you set the Automate Split Ex-Dates field to Yes, specify the NII Split Period End Date field value to define 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.

  7. If you set the Automate Split Ex-Dates field to Yes and use mid month split dividend processing, specify the Days in Month field value. 
    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.

  8. If you set the Automate Split Ex-Dates field to No, in the Ex Date field, specify the ex-date for the distribution.
    For schedules for split dividend processing, this identifies the actual split dividend ex-date.

  9. Click Submit.

Create Distribution Schedule Panel Options