Approval Report (Monthly Mode)

It is possible that there could be multiple in and/or in records approved for a constituent during a month when daily builds are executed. This can complicate matters when Monthly Mode is enabled. The existing Composite Approval functionality does not systematically prevent you from approving multiple in or in records within the same month. However, when records are approved manually or through the auto-update database, then ENTITY_RANGE_DETAILS is interrogated and determines the appropriate impact to the composite for each scenario prior to committing any records. The possible intra-month approve scenarios and the impact on ENTITY_RANGE_DETAILS are in the following figure.

Intra-month Mode Impact on ENTITY_RANGE_DETAILS

Inception date logic is also applied in Monthly Mode, whereas Approved records are not committed to ENTITY_RANGE_DETAILS if the Start Date corresponds to a date that is prior to the Inception Date of the constituent.
For audit purposes, it is important to reiterate that although the Start Dates and Stop Dates always revert to the first of the month, you can view the true Effective Date of the approved record on the Approval report. Additionally, the Reason Code based comment functionality is designed to support auditing capabilities in Monthly Mode by adding an As of disclosure before the Start and/or Stop comments.

For example, the following figure shows the Reason Code based Start comment for an entity that was added to the composite as of 1/1/1980, but was Approved with an Effective Date of 1/4/1980.

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Manual Updates to Performance Composites

It is possible to manually update rules-based composites through the Performance Composite entity screen. Maintenance to manually remove/include a portfolio from a composite, edit the characteristics of the constituent entity, and/or edit the Start or Stop dates must be done through the Entities window directly. However, it is strongly recommended that all pending records be reconciled prior to manually updating the composite membership. Although this practice is not systematically prevented, a warning message, shown in the following figure, displays if a manual update is attempted on a composite entity that has records in Pending status.