Book Journal to Cover Trades for Equities

In the Journal to Cover panel, you can merge a long and short position for the same asset/entity combination into one position.

To manually book a journal to cover trade for an equity security:

In Accounting Center, in the left navigation pane, click Transactions > Trades > Book Trade/Rebook Trade > Book Trade.
You see the Book Trade workspace.
Complete the options in the Search Details pane and click Search.
You see the search results based on the criteria you selected.
Select the row with the security you want to trade.
On the Book Trade tab, in the Actions group, click Action Rules, point to Other and click Journal to Cover.
You see the Journal to Cover panel.
Complete the options on the Journal to Cover panel.
Click Submit.

Journal to Cover Panel Options

The following are the options in the Journal to Cover panel. Note options may vary according to your selections.

Option	Tag	Description

Option	Tag	Description
Entity Information
Entity ID	1163	Specifies the unique identifier of the entity.
Entity Name	1164	Specifies the name of the entity.
Base Currency	86	Displays the base currency of the entity.
Long Position Information
Trade Date	35	Specifies the effective date of the trade. The trade date cannot be greater than the post date, accounting date, or settlement date.
Accounting Date	36	Specifies the date the trade is reported and has an effect on the entity's holdings and cash balances. The accounting date must be greater than the trade date.
Monthly Accounting Date	4733	Displays the month end accounting date.
Settlement Date	37	Specifies the date the trade is settled.
Event Type	55	Displays the business intent of the transaction.
Xref Type	1234	Displays the cross reference type associated with the security.
Xref ID	1233	Specifies the cross reference identifier associated with the security.
Issue Name	961	Specifies the name of the security.
Ticker	13	Specifies the trade ticker of the security.
Primary Asset ID	14	Specifies the primary asset identifier associated with the short position.
Long/Short Indicator	355	Displays an L to indicate the position is long.
Instrument Type	353	Displays the instrument type.
Security Type	371	Displays the security type of the asset.
Issue Currency	360	Displays the local currency of the security.
Position Quantity	159	Displays the current quantity of the position.
Transfer Quantity	366	Specifies the quantity that is being transferred from the source position.
Custodian Bank Name	1146	Specifies the name of the custodian bank responsible for the trade. The field lookup allows you to select the custodians that have bank account relationships defined for the entity or for the composite associated with the entity. When you select a value, the system displays values for the Custody Bank Account Number field, Custody Bank Subaccount field, Cash Account Name field and Cash Account Number field, based on the bank account relationships and cash account relationships that apply to the transaction. NOTE: You must establish a relationship between the custodian bank and your entity prior to booking the trade.
Custodian Bank Code	1240	Specifies the code of the custodian bank.
Custody Bank Account Number	1660	Specifies the custodian bank primary account number. The panel displays the value associated with the selected bank account relationship for the custodian.
Custody Bank Subaccount	1661	Displays the custodian bank subaccount number. When you use cash segregation, the panel displays a value of OTHER as the custodian bank subaccount number for the transaction.
Short Position Information
Issue Name	1173	Specifies the name of the security.
Issue Symbol	313	Specifies the trade symbol of the security.
Primary Asset ID	314	Specifies the primary asset identifier associated with the short position.
Long/Short Indicator	305	Displays an S to indicate the position is short.
Instrument Type	303	Displays the instrument type.
Security Type	321	Displays the security type of the asset.
Issue Currency	310	Displays the local currency of the security.
Position Quantity	122	Displays the current quantity of the position.
Transfer Quantity	316	Specifies the quantity that is being transferred from the source position.
Custodian Bank Name	9409	Specifies the name of the custodian bank responsible for the trade for the short position. The field lookup allows you to select the custodians that have bank account relationships defined for the entity or for the composite associated with the entity. When you select a value, the system displays values for the Custody Bank Account Number field, Custody Bank Subaccount field, Cash Account Name field and Cash Account Number field, based on the bank account relationships and cash account relationships that apply to the transaction. NOTE: You must establish a relationship between the custodian bank and your entity prior to booking the trade.
Custodian Bank Code	9410	Specifies the code of the custodian bank.
Custody Bank Account Number	9411	Specifies the custodian bank primary account number. The panel displays the value associated with the selected bank account relationship for the custodian.
Custody Bank Subaccount	9749	Displays the custodian bank subaccount number. When you use cash segregation, the panel displays a value of OTHER as the custodian bank subaccount number for the transaction.
Settlement Information
Settle Instructions 1	1897	Allows you to add settlement notes.
Settle Instructions 2	1898	Allows you to add settlement notes.
Settle Instructions 3	1899	Allows you to add settlement notes.
Settle Instructions 4	1900	Allows you to add settlement notes.
Settle Location	43	Specifies the location in which the trade is settled.
Other Information
Transaction Notes	56	Contains user defined information about the trade.
Original Trade Ticket Number	761	Contains the trade ticket identification number. The system uses it during processing. For example, IDLOT close or cancel events use this number to locate an open lot.
Holding Term	9091	Specifies the holding term for the trade based on the number of days between the original acquisition date (tag 216) and the maturity date (tag 35) on the lot. If you use ledger reporting based on ledger granularity rules to break out accounts by holding term, the system uses this value to identify the holding term for trades related to bonds and preferred stocks. Eagle Accounting's core transaction processing calculates the holding term for you, but you can manually override the value displayed in this field. Eagle Insurance clients that use ledger granularity rules have the system calculate the holding term based on the schedule associated with a lot. Options include: Short Term. Identifies a short term holding. If the Holding Term Method field (tag 11479) in the trade's accounting basis has a value of 90 days, a short term holding term is 91 days to a year. If the Holding Term Method field has a value of 3 months, a short term holding term is 3 full months to a year. Cash Equivalent. Identifies a cash equivalent holding. If the Holding Term Method field (tag 11479) in the trade's accounting basis has a value of 90 days, a cash equivalent holding term is 90 days or less. If the Holding Term Method field has a value of 3 months, a cash equivalent holding term is 3 full months or less.
Pending Trade Flag	3695	Specifies whether the trade is eligible for pending trade processing prior to processing by the STAR accounting engine. If you use pending trade processing, the system can assign this value to incoming transactions that meet pending trade rule detail criteria. Or an incoming transaction can include this value. This field is hidden. Options include Y and N.
Pending Trade Status	3720	Specifies the trade's transaction status for pending trade processing prior to processing by the STAR accounting engine. If you use pending trade processing, the system can assign a value of Pending to incoming transactions that meet pending trade rule detail criteria. Or an incoming transaction can include a value of Pending or a custom pending transaction status value defined in the PEND_TRD_STATUS code category. The default status is Pending if no status is provided. This field is hidden.
User Defined Priority	2862	Specifies the user generated number that determines the event sub priority. That is, after the system accounts for the event sequence and corporate action sequence.