Create Master Fund Panel Options

• Benchmark. Benchmark.
• IT. Institutional and Trustee.
• MF. Mutual Fund.
• MM. Money Market.
• OFFSHORE. Off Shore.

Specifies the Legal Entity Identifier (LEI) that identifies the mutual fund as a financial party. When you enter an LEI value, the system unhides the Legal Entity Identifier Details section for data entry.

NOTE: If the LEI already exists, the LEI details are displayed.

Indicates if the selected master fund entity uses daily or intraday NAV processing. Option include: 

• Intraday. The master fund is eligible for intraday NAV processing. In the Allocation Fields section, you can select an intraday NAV processing rule. 
• Daily. Default. The master fund is not eligible for intraday NAV processing.

Indicates whether the entity is an open-end or closed-end fund. Options include:

• Open
• Closed

Indicates whether the master fund is eligible for preferred shares processing. This field appears if you set the Open/Closed-end Fund field to a value of Closed. Options include: 

• Yes. The fund is eligible for preferred shares processing. If you select Yes, under Fund Distribution Fields, the Daily Distribution Method field displays a value of Preferred Stock Distributions. Under Allocation Fields, the panel hides the Class Allocation Rule and the Sector Allocation Rule fields.  
• No, The fund is not eligible for preferred shares processing.

Indicates if the master fund is part of a master feeder fund structure. You can create a master and feeder fund relationship and use that relationship to allocate income, expense, realized and unrealized gains and losses from the master fund to the feeder fund. This fund structure allows you to consolidate multiple portfolios into one. This consolidation allows advisers to reduce their trading and operating cost. Options include: 

• Yes. The master fund is part of a master feeder fund structure. 
• No. Default. The master fund is not part of a master feeder fund structure. 

Indicates whether the master fund is a master feeder fund or a feeder fund if you use it within a master feeder fund structure. This field appears if you set the Master/Feeder Fund Relationship field to a value of Yes. Options include: 

• Master Feeder Fund. The master fund is a master feeder fund. If you select this value, you must identify a master feeder fund allocation rule in the Allocation Fields area. 
• Feeder Fund. The master fund is a feeder fund. 

• USTAX. Default. The system is set up in accordance with domestic tax regulations.
• GAAP. The system is set up in accordance with Generally Accepted Accounting Principles (GAAP). This is the most common basis.
• IFRS. The system is set up in accordance with International Financial Reporting Standards (IFRS).
• STAT. The system is set up for use with statutory insurance.

Indicates whether the selected accounting basis is the entity's controlling basis for use with for same lot selection. Same lot selection allows the system to relieve the same lots across multiple bases in order to keep lots in sync across bases. Options include:

• Yes. Indicates that the accounting basis identified in the Primary Accounting Basis field (tag 21) is the entity's controlling basis. The controlling basis is the accounting basis that controls lot selection for closing transactions. An entity can have a single controlling basis. You can designate a primary or a non primary basis as the controlling basis. 
• No. Indicates that the accounting basis identified in the Primary Accounting Basis field (tag 21) is a non-controlling basis for the entity during same lot selection. A non-controlling basis attempts to close the same lots that the controlling basis closed. An entity can have one or more non-controlling bases.
• Empty. Indicates that the accounting basis identified in the Primary Accounting Basis field (tag 21) does not participate in same lot selection.

• AC (Amortized Cost). Used for debt instruments when the business model in which the financial assets are held has an objective to hold assets to collect contractual cash flows. Contractual cash flows must be solely payments of principal and interest on the principal amount outstanding (P&I).
• AFS (Available for Sale). Used for financial assets that are available for sale.
• AFSC (Available for Sale at Cost). Used for instruments that are valued at cost and are available for sale.
• FVO (Fair Value Option). Used for instruments managed on a fair value basis.
• FVOCI (Fair Value – Other Comprehensive Income). Used for debt instruments when the business model in which the financial assets are held has an objective both to hold assets to collect contractual cash flows and to sell financial assets. Contractual cash flows must be solely payments of principal and interest on the principal amount outstanding (P&I). Used for equity investments only if an entity makes an irrevocable election on initial recognition for the equity investments to be measured at FVOCI without recycling gains and losses to earnings.
• FVPL (Fair Value Profit Loss). Used for all other instruments, including derivatives, those held for trading, and those managed on a fair value basis. Includes debt instruments not qualified for AC or FVOCI regulatory categories. Also includes equities not designated as FVOCI and derivatives plus debt securities that are classified with an FVO election.
• HFT (Held for Trading). Used for instruments held with the intent of selling them.
• HTM (Held to Maturity). Used for non derivative financial assets that you intend to hold to the asset's maturity or payment date and whose cash value is not needed until that date.
• LR (Loans and Receivables). Used for non derivative financial assets with fixed or determinable payments that are not quoted in an active market.
• MFFVO (Mutual Fund Fair Value Option). Used with mutual funds with a Fair Value Option category. This regulatory category is for informational purposes only, and does not have a corresponding custom chart of account to use in ledger reporting. No core processes for Eagle's Accounting solution are affected.
• MFHFT (Mutual Fund Held for Trading). Used with mutual funds with a Held for Trading category. This regulatory category is for informational purposes only and does not have a corresponding custom chart of account to use in ledger reporting. No core processes for Eagle's Accounting solution are affected.
• O (Other). Used for other instruments.

• Core. Default. Used if entity is an investment or mutual fund.
• Insurance. Used if entity is insurance related (Schedule D).

• Use Basis Value Unless Event = IDLOT or VSP. Default. The system uses the value in the accounting basis table unless the incoming event has a lot selection method of Identified Lot (IDLOT) or Versus Purchase (VSP).
• Use Event Value. The system uses the lot selection method from the incoming event and does not utilize the lot selection method in the accounting basis table.
• Always Use Basis Value. The system uses the accounting basis default regardless of what lot selection method is on the incoming event.
• Use Historical Method Unless Event ID = IDLOT or VSP else use event. The system uses the historical lot selection method on the accounting basis unless the lot selection method on the incoming event is equal to Identified Lot (IDLOT) or Versus Purchase (VSP).

Determines if the entity/primary accounting basis uses a mixed cost basis. A mixed cost basis allows you to override the entity's accounting basis level elections for the cost method, lot selection method, and lot selection method rule used during transaction processing. You can define mixed cost basis rules based on transaction criteria that includes processing security type (PST) group, processing security type, security type, cost basis rule type, and asset ID, as well as by using each of these criteria in combination with a specified entity. For more information, see Manage Mixed Cost Basis Rules. This field appears in the accounting basis entry panels as the Mixed Cost Basis Indicator (tag 11664) field. Options include:

• Yes. The entity/primary accounting basis uses a mixed cost basis. The Primary Basis Mixed Cost Basis Rule Name field becomes available.
• No. Default. The entity/primary accounting basis does not use a mixed cost basis. 

Specifies the cost method the system uses to calculate gain/loss amounts from the sale of security lots held by the entity. You cannot edit this field once the entity has holdings. Eagle's Accounting solution is a multiple basis accounting system. If you set up an additional accounting basis, it must have the same cost method as the primary accounting basis. Options include:

• Identified. Default. The system determines which lot to relieve (sell) based on the value in the Lot Selection Method field. After identifying the lot, the system determines its cost and compares that to the lot's earnings to calculate a gain or loss amount for reporting purposes. If you select Identified, you can amortize fixed income securities using all the options the system has available. For more information, see Manage Amortization and Yield Calculations.
• Average. The system determines which lot to relieve (sell) based on the value in the Lot Selection Method field. After identifying the lot, the system determines the average of all of the holdings (total cost of holdings divided by the number of holdings) to calculate a gain or loss amount for reporting purposes. If you select Average, you can amortize fixed income securities using only selected options the system has available. The system applies the total amortization to individual lots based on the percentage of total par owned in the position. For Average Cost portfolios, Eagle Accounting supports only certain amortization methods. For more information, see Understand Average Cost Amortization.

Eagle Accounting supports the cost basis legislation regulations included in the Emergency Economic Stabilization Act of 2008. These regulations, which apply to various types of securities, affect debt securities and options posted on or after January 1, 2013. If a portfolio follows these mandatory guidelines, you must perform additional setup tasks to enable cost basis reporting. For information about enabling cost basis reporting, adding rules for covered and uncovered securities, defining mixed cost basis rules to override your basis level elections for the cost basis method, and information about changing cost methods, see the Cost Basis Legislation Quick Reference Guide.

• First In First Out (FIFO). Lots acquired first are sold first. The oldest lot is sold first based on the holding date. If you set the accounting basis Cost Basis Covered Indicator field (tag 2818) to Y, unknown cost lots are relieved first. The oldest cost lot is sold first based on the holding date.
• Last In First Out (LIFO). Lots acquired last are sold first. The most recent lot is sold first based on the holding date. If multiple lots share the same holding date, the lot with the greatest event sequence is relieved first. The event sequence, set internally by the system, indicates the processing order of transactions within the same position.
• High Amortized Cost or High Cost (HCLOT). The lots with the highest current cost are sold first. The system uses current unit cost, which includes amortization for debt securities. This method relieves the lots that can generate the maximum loss or the minimal gain.
• Low Amortized Cost or Low Cost (LCLOT). The lots with the lowest current cost are sold first. the system uses current unit cost, which includes amortization for debt securities. This method relieves the lots that can generate the minimal loss or the maximum gain.
• High Original Cost (HORIG). The lots with the highest original cost are sold first. The system uses the original unit base cost of the open lots. It relieves the lots that can generate the maximum loss or the minimal gain.
• Low Original Cost (LORIG). The lots with the lowest original cost are sold first. The system uses the original unit base cost of the open lots. It relieves the lots that can generate the minimal loss or the maximum gain.
• Identified Lot (IDLOT). The specified lot or lots are sold first, which determines cost and tax implications. You can optimize this option to specific tax situations by selecting the specific lots to be sold. If you select this method, the lower pane in the close trade panel displays lot details for each available lot, as determined by the entity's controlling basis. If no controlling basis exists, it displays lots for the primary basis. You must specify the quantity for one or more lots that you want to relieve. The total quantity you specify for the open lots must match the quantity entered for the total close. The close trade relieves the selected lots in each of the entity's accounting bases, and keeps the lot structures in sync. The system uses the lot's Orig Event ID field (tag 457) to match a single open lot in one basis to corresponding multiple open lots in another basis, as needed. This can occur for lots fractured as a result of wash sale processing.
• Best Tax. The lots are selected and sold with the objective of taking losses first (short term then long term) and gains last (long term then short term). Lots are sold in the following order:
  1. Short term Losses. Lots that reflect a short term loss are sold first, beginning with lots that generate the greatest short term loss down to the least short term loss.
  2. Long term Losses. Lots that reflect a long term loss are sold, beginning with lots that generate the greatest long term loss down to the least long term loss.
  3. Short term No Gains or Losses. Short term lots that reflect no gain or loss.
  4. Long term No Gains or Losses. Long term lots that reflect no gain or loss.
  5. Long Term Gains. Lots that reflect a long term gain, beginning with lots that generate the least long term gain up to the greatest long term gain.
  6. Short Term Gains. Lots that reflect a short term gain, beginning with lots that generate the least short term gain up to the greatest short term gain.
• Tax Advantage (TXADV). The lots with the lowest tax liability are sold first to minimize tax liability.
• Versus Purchases (VSP). The lots are selected and sold based on lot purchase characteristics, such as the target purchase date and the target purchase price. This option must be specified at the trade level.
• Pro Rata. The lots are selected and sold based on a proportionate allocation. Note that this option is available at the mixed cost basis rule detail level but is not available at the entity/basis level.
• Tax Efficiency. The lots with the lowest tax liability are sold first to minimize tax liability. The system calculates the tax liability based on the manipulation of entity level tax factors for long and short term gains, long and short term losses, and currency gains. The system also incorporates the wash sale disallowance effect and considers the overall tax implications of closing each individual lot.
• Modified FIFO (MFIFO). The open lots with the same original acquisition date (tag 216) as the close transaction are sold first, starting with the lots with the lowest unit cost local. If there are no open lots with the same acquisition date as the close transaction, or all same day lots have been sold, the oldest open lots are sold first based on the acquisition date. Within a single acquisition date, the lots with the lowest unit cost local are sold first.

• Identified. The system determines which foreign currency lot to relieve (sell) based on the value in the Lot Selection Method Cash field, which is always FIFO. After identifying the lot, the system determines its cost and compares that to the lot's earnings to calculate a gain or loss amount for reporting purposes.
• Average. The system determines which foreign currency lot to relieve (sell) based on the value in the Lot Selection Method Cash field, which is always FIFO. After identifying the lot, the system determines the average of all of the holdings (total cost of holdings divided by the number of holdings) to calculate a gain or loss amount for reporting purposes.

• Yes. Default. The system allows you to oversell, sell without a buy, and process a buy to cover without the short. Setting this field to Yes allows you to use the system's rollback and replay feature to adjust earnings. The system creates a negative long position (for an oversell or sell without a buy) or a negative short position (for a buy to cover without the short) and when the buy is received, the system replays that sell transaction.
• No. The system does not allow you to oversell, sell without a buy, or process a buy to cover without the short. The system rejects the trade and sends it to the Exceptions workspace to be reprocessed manually.

• No. Default. The system applies the wash sale rule. The system does not record a loss on a sale of a security when you buy substantially identical securities within 30 days before or after the sale. If you select No, the system uses the value you specify for the Wash Sale Eligible Flag field on the trade panel to determine whether to process wash sales.
• Yes. The system does not apply the wash sale rule. The system records a loss on a sale of a security when you buy substantially identical securities within 30 days before or after the sale. If you select Yes, the system does not process wash sales, regardless of the value you specify for the Wash Sale Eligible Flag field on a trade panel.

• 90 Days. When you use the system to calculate the holding term, it designates lots bought within 90 days to maturity as cash equivalent (CE) and designates lots bought within one year to maturity, taking leap years into account, as short term (ST).
• 3 Months. Default. When you use the system to calculate the holding term, it designates lots bought within three months to maturity as cash equivalent (CE) and designates lots bought within one year to maturity, taking leap years into account, as short term (ST).

• Active. Default. The system reports the entity as active.
• Inactive. The system reports the entity as inactive.

• Cost. The system prices the short term debt instruments based on the amortized cost of the securities. No unrealized gain/loss entries are created. You must select Cost if you are processing short term discount accruals.
• Market. Default. The system prices the short term debt instruments using market prices rather than the amortized cost of the securities. Unrealized gain/loss entries are created.

• Daily. Default. The system establishes one accounting period for each day of the year. If the entity is using a business calendar, the system establishes an accounting period for business days only.
• Monthly. The system establishes twelve accounting periods for a given year.
• Weekly. The system establishes one accounting period for each week of the year.

Specifies how the system handles gains and losses on foreign securities and foreign debt instruments. Gains and losses from foreign security and debt instruments may be posted to currency gain/loss ledger accounts, capital gain/loss ledger accounts, or to both. There is no currency gain/loss for domestic securities so you can select No in this field if your organization trades only in domestic securities. For more information, see Understand the Bifurcation Method. Options include:

• Section 988. Default. The system determines whether to bifurcate (split into parts) the gain/loss between capital and currency based on the security type. You need to specify which security types are eligible for section 988 bifurcation using the Codes workspace. If a security is not set up with a processing security type code, it is not eligible for bifurcation under Section 988. In this case, the system posts capital and currency realized gains/losses to the capital realized gain/loss general ledger accounts.
• No. The system does not bifurcate (split into parts) the gain/loss between capital and currency. The system posts the capital and currency realized gains/losses to the capital realized gain/loss general ledger accounts only.
• All. The system bifurcates (split into parts) the gain/loss between capital and currency regardless of the security type. The system posts the capital realized gains/losses to the capital realized gain/loss general ledger accounts and the currency realized gains/losses to the currency realized gain/loss general ledger accounts.

• Yes. Create cash flows for the open of the TBA tax lot.
• No. Default. Do not create cash flows for the open of the TBA tax lot, but create the net cash flow at the close of the position.

• Yes. In the month the trade settles, cancel and rebook the original trade using the most recent factor.
• No. Default. Do not cancel and rebook the original trade using the most recent factor.

• Income/Expense. Posts interest accruals and dividends to Income and Expense accounts in the general ledger.
• Unrealized. Posts interest accruals and dividends to unrealized Capital accounts in the general ledger.

• Calendar. Default. Fund spreads expenses over the weekends and holidays.
• Business. Fund does not spread expenses over the weekends and holidays.

• Capitalize Trans Fees on Opens & Net Trans Fees Against Proceeds on Closes
• Expense Trans Fees on Opens & Net Trans Fees Against Proceeds on Closes
• Expense Trans Fees on Open and Close Trades

Specifies whether costcash bulking has been elected. Options include No and Yes (default).

Determines whether capital/income processing for NAV calculations is enabled. Options include:

• No. Default. The calculation of Capital and Income NAVs for unit trusts is not enabled.
• Yes. The calculation of Capital and Income NAVs for unit trusts is enabled, including calculations of the NAV components, Capital NAV and Income NAV, and the total NAV used for pricing. In addition, the system tracks undistributed income for domestic and foreign interest income, domestic and foreign dividend income, and domestic and foreign miscellaneous income. The Periodic Distribution Rule (tag 2776) field becomes available.

• No. Default. Backup withholding is not required.
• Yes. Backup withholding is required. You must enter a value for the Backup Withholding Rule Description field. TEFRA legislation requires backup withholding if you have not provided a taxpayer ID.

• Yes. Process book value by splitting the cost of the transaction into two parts: par and cash premium/discount (CP). CP is the difference between par and the price paid. Par is booked to cost of investments and CP is booked to an asset CP account. As close transactions are booked, the par, CP, and any other fees booked are proportionally closed.
• No. Do not process book value by component.

• Expense. The system recognizes expenses for commissions on the opening and closing of contracts with variation margin. The commissions are recognized as a transaction cost rather than netted in the initial recognition of unrealized gains/losses. You can view the transaction fees on the General Ledger report.
• Capitalize. Default. The system nets the initial recognition of unrealized gains/losses on the opening and closing of contracts with variation margin.

• Yes. Dividends with countries populated on the QDI Tax Treaty table are considered QDI eligible and the QDI Eligible Flag field (tag 2905) on the security master file is ignored. To add a country to the QDI Tax Treaty table, use the Create QDI Tax Treaty panel. You can also use the Create QDI Tax Treaty Exclusion panel to exclude specific securities from QDI eligibility.
• No. Default. The entity uses the QDI Eligible Flag field (tag 2905) on the security master file to determine QDI eligibility.

• No. Default. The system recognizes dividend income on an ex-date basis.
• Yes. The system recognizes dividend income on a cash settlement basis.

• Ex-date. Recognizes the income using the ex-date FX rate.
• Settlement Date. Recognizes the income using the settlement date FX rate.

If the selected accounting basis uses the equity method of accounting, identifies the treatment of assets held under the equity method of accounting. You cannot change this value when you edit an entity/basis. Options include:

• STAT Treatment. Indicates that you are using the equity method of accounting with a STAT accounting basis for use with statutory insurance. If you are creating or editing a STAT basis that uses the equity method, you must choose STAT Treatment. You can apply the STAT Treatment to any basis other than a GAAP basis.
• Other Treatment. Indicates that you are using the equity method of accounting with a non-STAT accounting basis, such as a GAAP basis that uses Generally Accepted Accounting Principles (GAAP). You can apply the Other Treatment to any basis other than a STAT basis.

Determines whether the selected accounting basis uses the income posting treatment to create separate entries within the ledger to identify interest income received and/or dividend income received in unique income ledger accounts. This option is for use by Insurance companies that need to reconcile the investment accounting activity reflected on their investment schedules to related ledger accounts on their trial balances. See Record Unique Ledger Postings for Income Received. Options include: 

• Yes. Allows the system to use the income posting treatment to create separate entries within the ledger to identify interest income received and/or dividend income received in unique income ledger accounts. The system records unique ledger postings for interest received recorded in an income ledger account for interest income received and for dividend income received in an income account for dividend income received. When interest receivables and/or dividends receivables are reduced for cash received, additional postings entries are required to record interest or dividends received. 
• No. The system does not use the income posting treatment to create separate entries within the ledger to identify interest or dividends received in unique income ledger accounts.

Determines whether the selected accounting basis uses the mark-to-market breakout. This breakout is for use by Insurance companies that need to reconcile the investment accounting activity reflected on their investment schedules to related ledger accounts on their trial balances. See Record Unique Ledger Postings for Income Received. Options include: 

• Yes. Uses the mark-to-market breakout. Eagle Accounting create separate mark to market unrealized gain/loss accounts for each foreign-denominated receivables and payables. This only includes interest receivables, interest payables, dividends receivables, dividends payables, investment receivables, and investment payables accounts. It applies to all accounting bases as well as the STAT basis. In addition, the offset to the mark to market record in unrealized gain/loss non-asset accounts has its own accounts related to the specific receivable/payable account in Eagle Accounting. 
• No. Does not use the mark-to-market breakout. Eagle Accounting's mark to market (MTM) process creates one asset/liability combining all mark to market unrealized FX gains/losses.

• Yes. Eagle Accounting segregates derivatives. If you set the Position Cash Segregation Basis Indicator field to Yes, indicating that you use cash segregation and the entity has a custody accounting basis, the system sets the Segregate Derivatives field to Yes. The system must additionally segregate derivatives on the non custody basis because cost is notional and the system determines cash based on the lot closed. If you set the Position Cash Segregation Basis Indicator field to no and the entity does not use cash segregation, you can also select Yes to process derivatives with multiple brokers and keep positions segregated by clearing broker.
• No. Default. Eagle Accounting does not segregate derivatives.

Allows multiple clients on the same platform to share the same security reference data for futures, future options, and/or cleared swap security master records but to suppress, by entity and processing security type, the variation margin logic on securities set up for variation margin. Futures, future options, and swaps include a Variation Margin (tag 4533) option on the security master record that indicates whether to calculate variation margin. In multi-client environments, some clients may want to use Eagle's variation margin functionality while other clients need to use a model external to Eagle Accounting for variation margin processing. In order to maintain a single security master record and accommodate client-specific elections, an entity-level variation margin override setting allows you to override the security-level setting in applicable entities for certain processing security types. For more information, see Override a Security's Variation Margin Setting for an Entity.

You cannot edit this field after you create the entity. You cannot apply a variation margin override rule to an entity if the rule includes a processing security type that the entity ever held. 

Indicates whether the system can create coupons for the entity posted on ex-date rather than on coupon day. Options include:

• Yes. The entity uses ex interest processing for eligible securities. When you process accruals on the ex-date of a bond, the system creates a coupon entitlement for each settled lot. That is, for any lot entitled to the coupon, the system creates a traded cash record for the full coupon that is paid to the current holder of the bond. The system uses the security's ex interest schedule or the security's Ex-Interest Days field to determine the ex interest days. 
• No. Default. The entity does not use ex interest processing. Coupons post on coupon day. 

Determines whether Eagle Accounting produces a new open lot for a payup or allows a payup to create an open adjustment and modify the shares of the original open lot instead of creating a new open lot. Options include:

• Yes. Books payups as an adjustment to the current open lot. Used when processing book value by component.
• No. Default. Books payups as a new lot.

• Process with Previous Business Day. The system posts non-business day accruals to the previous business day's accounting date. For example, accrued interest for Saturday and Sunday is posted on Friday.
• Process with Next Business Day. The system posts non-business day accruals to the next business day's accounting date. For example, accrued interest for Saturday and Sunday is posted on Monday.

• Yes. The system creates a custody basis for the entity. When you submit the entity, the system creates an entity record, a record for the entity's primary accounting basis, a record for the custody accounting basis, and accounting periods for both the entity/primary accounting basis and the entity/custody accounting basis. The system assigns the appropriate default settings for the custody basis. For example, a custody basis does not require income, amortization/accretion, or ledger processing. If you select a value of Yes, the system also sets the Segregate Derivatives field to Yes.
• No. The system does not create a custody basis for the entity. If you set the entity-level Cash Sweep option to Yes, this option displays a value of No and is locked.

Specifies the source that the system uses to process earnings for variable and floating rates that are used for variable rate bonds with scheduled/unscheduled variable rates, floating rates, step coupon rates, and rates that measure inflation adjustment for the entity. It displays the source associated with the specified Entity Source Rule field.

If the source for the variable rate entered in the Variable Rate table does not match the Variable Rate Source value for the entity, Eagle Accounting does not use those values in the Earnings process.

• Not Listed
• Manual
• Transaction Open
• Transaction Close
• Valuation Close
• Audit Close

• No. Default. The system does not use month end processing.
• Yes. The system uses month end processing. You can view the Month End Long Price and Month End Short Price fields. The Month End System Close Business Days and Potential As Of Activity Business Days fields become available.

In order to use period close rules, you must set up the Accounting Period Rule field (tag 2300) for each entity. The system uses the entity's Accounting Period Rule field in order to assign the accounting date for a transaction during processing. It also derives the accounting date based on the transaction's effective date (trade date) and based on the accounting period that is open at time of processing. Options include:

• Trade Date. Default. When the system assigns the accounting date for the entity's transactions, the accounting date is equal to the effective date (trade date) of the transaction if the accounting period is open. Otherwise, the system uses the latest open accounting period.
• Trade Date + 1 Business Day. Also called T + 1. When the system assigns the accounting date for the entity's transactions and the accounting period is open, it uses the period close rules to verify whether the processing event is eligible for an accounting date that occurs one business day after the trade date. For processing events included in the period close rules, it uses T + 1 to assign the accounting date, using the effective date plus one business to assign the accounting date. For processing events excluded from the period close rules, it uses the effective date (trade date) of the transaction to assign the accounting date. Otherwise, if the accounting period is not open, the system uses the latest open accounting period.

Specifies the accounting date rule group for the master fund entity. An accounting date rule group identifies a set of entities for which you define period close rules applied across a group of funds. If this entity uses period close rules defined for a group of entities, this field Identifies that entity group. This field appears if you set the Accounting Period Rule field to Entity Group/Security Type/Message Type/Event Type, Entity Group/Security Type, or Entity Group. To use this functionality, you must set up a code, PERIOD CLOSE GRP, and store the group names in the Code Values table.

NOTE: A master fund entity can belong to only one accounting date rule group.

• None. Default. The fund is considered a Live fund and there is no month end reporting. The system uses the daily period to report month end transactions. The Control Center automatically closes the month end periods for the fund when the daily accounting period is closed.
• Monthly. Control Center does not automatically close the month end periods for the fund when the daily accounting periods are closed. You are able to close the month end periods at any time.
• Quarterly. Control Center automatically closes the non quarter-end periods for the fund when the daily accounting period is closed.
• Semi-Annually. Control Center automatically closes the non semi-annual periods for the fund when the daily accounting period is closed.
• Annually. Control Center automatically closes the non-annual periods for the fund when the daily accounting period is closed.

• No. Default. The system uses the value in the As of Month End Frequency field.
• Yes. The system prevents the automated closing of month end accounting periods when using the Control Center.

Specifies the amortization/accretion rule for the primary accounting basis that the system uses to process earnings. You can set up amortization/accretion rules for IFRS that amortize average cost portfolios on an effective yield basis. See Set Up an Entity/Accounting Basis for Amortization for more information.

NOTE: If you change the Primary Amortization Rule at the accounting basis level, the next time you process earnings the system creates a retrospective amortization rule calculation from the original settlement date of the trade (on all open lots). The system calculates the trade yield based on the primary amortization/accretion rule for the entity, so it is important to keep the values that exist on the entity and the primary accounting basis consistent. The system updates value changed on the entity panel via the primary accounting basis, but does not change entity values when you make the change through the Edit a Basis on a Portfolio panel.

• Gain/Loss. The system generates a gain/loss on a paydown. You can post the gain/loss to either a capital or general ledger account. The system displays the Paydown Gain Loss Account field.
• Amortization. Default. The system records a gain/loss generated by a paydown as accelerated amortization.

• Capital. If the position is under 365 days of ownership, the system posts the gain/loss that occurs on factor payments to the Realized Gain on Investments Short Term (3006000111) and Realized Loss on Investments Short Term (3006000112) general ledger accounts. If the position is over 365 days of ownership, the system posts it to the Realized Gain on Investments (3006000101) and Realized Loss on Investments (3006000102) general ledger accounts.
• Income. The system posts the gain/loss that occurs on factor payments to the Realized Loss on Investments (4004000102) and Realized Gain on Investments (4004000101) general ledger accounts.

• Accelerated Amortization. The system reduces the cost of the position by the total reduction of shares. The offset to cost is accelerated amortization. This field is only allowed if the Gain/Loss on Paydowns field is set to Amortization.
• Realized Gain/Loss. Default. The portion of the paydown resulting from the loss is processed at a price of zero. Eagle Accounting treats the portion of a paydown that is the result of a loss (write down) at a price of zero.
• Share Adjustment. The system treats the portion of paydown that is a result of a loss (write down) as a share adjustment (increase or decrease) and does not adjust cost for the loss portion.

• Coupon. The system spreads the daily income over the coupon period. This option is used primarily for mutual funds that distribute income daily, for bonds that are set up as 30/360, and for months that do not contain 30 days. The entity spreads the interest for the entire pay period evenly throughout the period. This "smooths" the interest so that the same amount of income is accrued each calendar day. Without the spread method, the 31st day of a month would not have any accruals, and the 28th day of a 28-day month would have three days' worth of accruals:
  = (Par * Rate) / Payment Frequency / Actual Days in current pay period
• Monthly. The system spreads daily income over the course of a month. A 30/360 bond defers a portion of its income for the 31st day of the month. The entity spreads the interest by the end of the modal month to a monthly 30/360 income amount:
  = (Par * Rate) / Payment Frequency / Actual days in the month 
• None. Default. The system does not spread income deferrals. The entity does not process any coupon spreading.

• Gain/Loss. Default. The system redeems gains/losses that result from calls, puts, and pre-refund corporate actions.
• Amortization. The system amortizes gains/losses that result from calls, puts, and pre-refund corporate actions. It applies an accelerated amortization method.

• Treat Gain/Loss from Sinking Fund Payment as Gain/Loss. Default. The system treats the gain or loss created by the sinking fund payment as a gain/loss on both the subledger and general ledger.
• Treat Gain/Loss from Sinking Fund Payment as Accelerated Amortization. The system treats the gain or loss created by the sinking fund payment as accelerated amortization on both the subledger and general ledger.
• Capitalize Sinking Fund Payment. The system uses the sinking fund information in the schedule table to calculate amortization yield. The system also reduces the principal of the tax lot in a non-prorated way when processing the sinking fund payment so that no gain or loss occurs.
• If Pro Rata Sinking Fund Capitalize Else Calculate Gain/Loss. The system looks to the value in the Pro Rata Sinking Fund Flag field specified for the security to determine processing. If the value for that field is Yes, the system capitalizes the sinking fund payments for the security. If the value is No, the system treats the gain/loss from the sinking fund payment as a gain/loss.
• If Pro Rata Sinking Fund Capitalize Else Calculate Amortization. The system looks to the value in the Pro Rata Sinking Fund Flag field specified for the security to determine processing. If the value for that field is Yes, the system capitalizes the sinking fund payment for the security. If the value is No, the system treats the gain/loss from the sinking fund payment as accelerated amortization for the security.

• Yes. Default. The system automatically posts unrealized gains/losses to the ledger during valuation. Select this value only if you are using Eagle's Pricing Center to post unrealized gains/losses.
• No. The system does not automatically post unrealized gains/losses during valuation. You must post them manually.

Specifies how the system recognizes closed earnings, amortization, and OID (Original Issue Discount) amortization. It determines on what dates the system posts the income that occurs on a disposition transaction. Options include:

• Settle Date. Default. The system recognizes closed earnings, amortization, and OID amortization through the settlement date of the close on a daily basis. Eagle Accounting recognizes the income daily between trade and settle date of the disposition.
• Trade Date. The system recognizes closed earnings, amortization, and OID amortization as one lump sum on the trade date of the close. Eagle Accounting posts the income that normally occurs between trade date and settle date all on the accounting date trade date of the transaction.

• Settlement Date. Default. The system accrues through the day prior to a coupon payment and then begins accruing for the new coupon on the coupon pay date.
• Settlement Date + 1. The system begins earnings accruals using a one day lag. It accrues through the coupon date for the current period and pays it out that day, and then begins accruing for the new coupon on the coupon date plus one day so that the accrued income on the coupon date is zero. This method can apply to countries such as Canada.

• Maturity Gain/Loss and Daily Income. The catch-up inflationary income recognized as part of a deflation maturity to bring the security to the ILB minimum inflation index ratio is treated as realized gain/loss, and posts to a Gain Loss account. Daily Inflation linked Income is treated as Inflation Income, and posts to an inflation income general ledger account.
• Both Income. Both the daily inflation income and the catch-up inflation income recognized as part of the deflation maturity are treated as inflation income. It posts to an Income general ledger account.

Determines whether the system allows a tax lot to have negative life to date income. The option to prevent a tax lot from having life to date negative income is only available for Identified Cost tax lots. This field appears if you set the Cost Method field to a value of Identified. Options include:

• Allow Negative Income. Default. The system recognizes negative income.
• Do Not Allow Negative Income. The system does not recognize negative income. The system uses the following calculation to determine if there is negative income: Total Income LTD = Accrual LTD + Amortization LTD + ILB LTD + OID LTD. 
  If Total Income LTD is less than zero, the earnings process first looks to deferred ILB income if it exists. If Total Income is still less than zero, amortization income is deferred until income exceeds zero.

Determines how the system recognizes amortization and accretion on the General Ledger for securities with a processing security type (PST) of Interest Only Factor Based Debt Instrument (DBFBIO). Options include:

• Separate Income and Amort on Ledger. Bifurcates the income streams with amortization going to an amortization account and the interest going to investment interest income. Eagle Accounting posts amortization and accretion to the following general ledger account after a split: Amortization of Premium (4001000401), Investment Interest Income (4001000100).
• Combine Income and Amort on Ledger. Default. Nets together amortization and accretion in the Investment Interest Income (4001000100) account on the general ledger.

• Yes. Default. The system uses the STAR to PACE Direct Interface to transfer an entity's open positions and cash balances.
• No. The system does not use the STAR to PACE Direct Interface to transfer an entity's open positions and cash balances.

• Yes. Default. The STAR/PACE integration procedure creates cash currency records for performance reporting. If you use Eagle Performance, select Yes.
• No. The STAR/PACE integration procedure does not create cash currency records for performance reporting. If you do not use Eagle Performance, select No.

• Yes. Default. The STAR/PACE integration procedure exports the cash position records from STAR to PACE and stores the cash balances in the position detail table in the Eagle data warehouse. If you use Eagle Performance, select Yes.
• No. The STAR/PACE integration procedure does not export cash position records from STAR to PACE. If your organization does not need currency balances, select this value to improve efficiency.

• Yes. Use cost value. If no price is found, STAR to PACE Direct defaults the amortized cost into the PACE market value fields in the position detail and lot level position tables.
• No. Do not use cost value. Use the default value of 0. The amortized cost is not used even if there is no pricing available.

Specifies the entity's process center. A process center allows you to group entities into centers to control the timing of global processes such as accruals, corporate action processing, maturities, contractual cash settlements, and STAR to PACE Direct processes. If specified, the system uses the date associated with the process center as the post date on all transactions.

NOTE: Eagle strongly recommends the use of process centers.

Indicates whether the system can perform cash sweeps into a short term investment fund (STIF) security for the entity. For more information, see Set Up Entities for Cash Sweeps. Options include:

• No. Default. The system does not sweep the entity's uninvested cash balance into a Short Term Investment Fund (STIF) security. If you set the Position Cash Segregation Basis Indicator option to Yes, this option displays a value of No and is locked.
• Yes. The system sweeps the entity's uninvested cash balance into a STIF security. If you select Yes, you must specify values for the Lookup STIF Issue Name and Lookup STIF Asset ID fields. You can sweep cash at the entity level if you do not use cash segregation.

• Class. Default. Redemption fees are posted to the class level.
• Fund. Class level redemption fees are automatically posted to the total fund level. Once posted, you can allocate the exit fee balance back to the class level, based on an existing allocation method, such as relative net assets.

• Yes. Default. Calculates the divergence for equating the NAVs. The system breaks down the equate NAV entry into a default dilution account.
• No. Does not calculate the divergence for equating the NAVs.
• Dynamic Reallocation. Calculates the divergence for equating the NAVs, and additionally allows a money market fund to dynamically reallocate its equate NAV ledger postings. The system can break down the equate NAV postings into capital, unrealized gain/loss, undistributed income, and undistributed gain/loss buckets.

Specifies the class allocation rule that the system uses to allocate activity to the share classes.

• Yes. If you select Yes, the Cash Equiv Currency field becomes available.
• No. The fund does not use the cash equivalent allocation process to calculate a total cash balance for all sectors in a multi-sector fund.

• Yes. Allow cash allocation to sectors. The system uses the allocation rule of the receivable or payable account that is being relieved and allocates each master fund cash settlement individually. If the system cannot identify the account you are relieving in your allocation rule, it defaults to the cash account's allocation ratio.
• No. Default. Do not allow cash allocation to sectors.

• Fixed Rate. Default. Identifies the daily distribution as a fixed rate distribution. The system distributes a specified percentage of cap stock as income. If you select this option, the Fixed/NII Distribution Shares fields becomes available.
• Net Investment Income. Identifies the daily distribution as net investment income. The system distributes all of the entity's net income daily. If you select this option, the Fixed/NII Set Rate Distribution Shares, Net Investment Income Rule, Late Activity Distribution Adjustment, Distribution Absorption Method, and Net Investment Income Split Method fields become available.
• No Processing. Identifies the daily distribution as needing no processing.
• Set Rate. Identifies the daily distribution as a set rate. The system calculates and reports a set distribution rate for each class of a multi class fund based on the base class rate that is established when you set up set rate processing. If you select this option, the Fixed/NII Set Rate Distribution Shares becomes available. Use this field to enter the distribution share type for the set rate.
• Preferred Stock Distributions. Identifies the daily distribution as a preferred stock distribution when you track preferred shares ownership for closed-end funds. To use this option, you must first set the Preferred Shares Processing field to Yes. The Daily Distribution Method option then displays a value of Preferred Stock Distributions, and you cannot change it.

• Waterfall Waiver. Allocates any distribution amount that falls below a minimum yield threshold using a waterfall waiver method to get that share class's distribution amount up to the target distribution yield. You can use the Minimum Yield field (tag 4992) on the Create Entity Share Class Information panel to specify the minimum yield. You can select this option if you set the Special Waiver Processing field to Waterfall Waiver Daily or Waterfall Waiver FYTD.
• Expense Reimbursement. Allocates any distribution amount that falls below a minimum yield threshold using an expense reimbursement account to get that share class's distribution amount up to the target distribution yield. You can use the Minimum Yield field (tag 4992) on the Create Entity Share Class Information panel to specify the minimum yield. 
• Class Allocation. Allocates a share class's negative distribution by spreading it across the remaining positive classes based on a weighted share allocation percentage. After the negative distribution is reallocated, the ending result for that negative class is a zero distribution. The threshold for this method is hard coded to zero.
• Default - None. Default. No reallocation is made. The system posts the distribution amount as calculated.

• Default - None. Default. Indicates that you do not want split dividend processing to occur for an entity.
• Mid-Month Split. Splits the mil rates based on user defined split dividend ex-dates, and is used if an entity's split dividend ex-date occurs on any calendar date other than the last calendar date of the month.
• Pre Ex-Date Split. Allows you to calculate an estimated mil rate for post ex-date on a split dividend ex-date.
• Post Ex-Date Split. Allows you to calculate a post ex-date mil rate with ex-date shares for a post ex-date.
• Post Ex-Date Reinvestment Split. Allows you to calculate a post ex-date mil rate with ex-date shares for a post ex-date, and includes reinvestment shares from post ex-date in the post ex-date calculation.

• NAV. Net asset value.
• POP. Public offer price.

• No. Default. The entity is not taxable.
• Yes. The entity is taxable.

• Yes. The system accrues interest for tax withholdings and reclaims on a daily basis. If you select Yes, you cannot set the Tax Accounting Method field to Gross Income because the Gross Income method ignores all withholding tax on dividends and coupons.
• No. The system does not accrue interest for tax withholdings and reclaims on a daily basis. Instead, tax withholdings and reclaims are calculated on the coupon payment date.

• Gross Income Method. Default. The system ignores any withholding tax on dividends or coupon entitlements, even if applicable tax rates are set up in tax tables. The gross amount of the dividend or coupon entitlement is posted as a receivable. The receivable is then relieved against the cash receipt on the coupon or dividend pay date. You cannot select this value if you set Accrue Interest Tax Indicator field to Yes.
• Gross Liability Method. The system generates both a receivable and a payable amount for the withholding tax. A receivable is created at the gross amount of the dividend or coupon entitlement less the amount of the reclaim. A separate receivable is created for the reclaim amount, if any. A payable is also created for the unrecoverable tax amount (tax expense). The system relieves both the payable and receivable against the cash receipt on the coupon or dividend pay date.
• Net Method. The system generates a receivable at the net income amount (gross income less withholding tax) and a separate receivable for the reclaim amount, if any. The payable for the tax expense is not created.

Defines the entity's tax status and allows you to group entities for tax accounting purposes. The system uses this value to calculate tax withholding and tax reclaim rates. You can group entities by entity tax type, entity tax qualifier, or both. Options for this field are user defined. The system is installed with a set of values for this field. You can add additional values for this field for the ENTITY TAX TYPE code category under the source Eagle PACE using the Codes workspace. For more information, see Manage Tax Withholding and Reclaim Processing.

Note that Eagle Accounting does provide an All option in the Entity Tax Type code value as part of the default script, so that it can be used as a wild card in the Global Tax table. However, you should not use the All option in the entity setup, because it limits your institution's ability to have extremely flexible tax nomenclature or structure.

• Yes. If the security level Tax Exempt Indicator field is also set to Yes, the system posts the income to tax exempt general ledger accounts. If the security level Tax Exempt Indicator field is set to No, the system posts the income to taxable general ledger accounts.
• No. If the security level Tax Exempt Indicator field is set to Yes, the system posts the income to taxable general ledger accounts. If the security level Tax Exempt Indicator field is set to No, the system posts the income to taxable general ledger accounts.

• Allocate Cost. Default. The system allocates a percentage of the cost of the original security to the rights issue.
• Do Not Allocate Cost. The system does not allocate a percentage of the cost of the original security to the rights issue.
• Calculate 15 Rule. The system determines whether to allocate cost to the rights issue based on the market value. If the market value of the rights issue is more than 15% of the cost of the original security, the cost is allocated to the rights issue. If the market value of the rights issue is less than 15% of the cost of the original security, the cost is not allocated to the rights issue.

• Round Down. The system rounds the fractional share entitlement down to zero decimals. No fractional shares are created.
• Post Fractional Shares. The system posts the fractional share entitlement, calculating the amount to two decimal places.
• Round Up. The system rounds the fractional share entitlement up to the next whole number. No fractional shares are created.
• European. The system calculates the fractional share entitlement as follows: 1. Divides the position by the divisor, 2. Drops the decimals on the number that is calculated, 3. Multiplies the whole number by the multiplier.
• Round to Nearest Whole Share. The system rounds the fractional shares to the nearest number of whole shares. If the calculated entitlement is greater than or equal to 0.50, the system rounds the fractional shares up to the next whole share. If the calculated entitlement is less than or equal to 0.49, the system drops the fractional shares.

• Recent. Default. Uses the trade date exchange rate if available. Otherwise, uses the most recent exchange rate.
• Actual. Retrieves only the exchange rate for the trade date. Rejects the transaction if no exchange rate is found.

• Loss. Default. The system applies the loss generated by the expiration of a right or warrant to the right or warrant.
• Transfer. The system applies the loss generated by the expiration of a right or warrant to the original security.

• Position. The system uses positions to determine cash entitlements for cash dividends.
• Lot. The system uses lots to determine cash entitlements for cash dividends.

• No. Default. You cannot override the entity tax rate.
• Yes. The system can override the tax rate assigned to the entity/basis. The system treats all mergers as nontaxable, regardless whether you set them up as taxable or nontaxable.

• Pro-Rata Method. Default. The system closes a portion of all lots, ignoring lot selection methods.
• Lot Selection Method. The system selects lots to close based on the lot selection method found on the accounting basis.
• Rights and Warrants Expire Delay Days (tag 4605). Specifies the number of days to delay the expiration of rights and warrants, allowing you to delay the maturity processing of rights and warrants. The default is 0 (zero days).

• No. No gain loss processing for corporate actions.
• Yes. Gain loss processing occurs for nontaxable mergers with taxable cash. For taxable mergers, gain/loss rules are used for the calculation of losses only.

Indicates whether the entity allows you to process voluntary corporate actions based on expiration date. You can override this value at the voluntary corporate action election level. For more information, see Process Voluntary Corporate Actions based on Expiry Date. Options include:

• Yes. The entity allows you to process voluntary corporate actions based on expiration date +1. The system sweeps the corporate action on expiration date + 1 for corporate actions in a Released status.
• No. Default. The entity does not allow you to process voluntary corporate actions based on expiration date. By default, Eagle Accounting uses the ex date /sweep date rather than the expiration date.

Indicates whether the entity automatically processes restrictions/pledges on voluntary corporate actions. For more information, see Restrict Shares When Booking Voluntary Corporate Actions. Options include: 

• Yes. The entity processes restrictions/pledges on voluntary corporate actions. The system places the restriction on the shares when you book the voluntary election in Eagle Accounting. After you process the corporate action, Eagle Accounting lifts the restriction when the corporate action reaches its ex-date or expiration date +1, as appropriate. If you select Yes, the Release Proration Pledge field appears.
• No. Default. The entity does not process restrictions/pledges on voluntary corporate actions.

If the entity uses voluntary restriction processing for corporate actions, indicates whether the entity automatically releases shares originally elected or automatically releases just the shares processed, if the corporate action was prorated. That is, if you apply a Proration Percent (tag 8081) value to the announcement and use voluntary restriction processing for voluntary elections, this option affects whether the system releases the prorated amount of the pledge or the entire pledge amount. Options include: 

• Yes. The entity relieves automated pledges by prorated shares when the entity uses voluntary restriction processing. This option affects only voluntary corporate actions that are prorated and use voluntary restriction processing to automatically restrict shares.
• No. Default. The entity does not relieve automated pledges by prorated shares when the entity uses voluntary restriction processing. The entity relieves automated pledges by elected shares.

Identifies the types of corporate actions for the entity's selected accounting basis that use the income/prepayment fee treatment. The income/prepayment fee treatment supports NAIC accounting requirements relating to prepayment penalties, acceleration fees, and make-whole call provision fees on bonds. The system uses this setting in conjunction with the Income/Prepayment Fee Treatment field applied at the corporate action transaction level. For more information, see Understand Income/Prepayment Fee Treatment. Options include:

• All. Apply the NAIC income/prepayment fee treatment to calls and principal repayments. 
• Calls Only. Apply the NAIC income/prepayment fee treatment only to calls. 
• Principal Repayments Only. Apply the NAIC income/prepayment fee treatment only to principal prepayments. 
• None. Do not apply the NAIC income/prepayment fee treatment to corporate actions. Also used with null values for this field. 

NOTE:  If you enable use of the income/prepayment fee treatment for specific types of corporate actions at the entity/basis level, be aware that the system does not consider the basis level Redemption Gain/Loss Indicator field setting for transactions that use the income/prepayment fee treatment. If you set the Redemption Gain/Loss Indicator field to Amortization, the system treats those transactions as if you set the Redemption Gain/Loss Indicator field to Gain/Loss.

• Contractual Settlement Date. The system settles the trades and/or income on the contractual settlement date.
• Contractual Settlement Date plus 1 Day. The system settles the trades and/or income items on the contractual settlement date plus one day.

• DEFAULTTRDINC. Settle both transactions and income for trades and corporate actions.
• DEFAULTTRDINCNOCA. Settle both transactions and income for trades but not for corporate actions.
• DEFAULTTRDONLY. Settle transactions, but not income, for trades and corporate actions.
• DEFAULTTRDONLYNOCA. Settle transactions, but not income, for trades but not corporate actions.
• DEFAULTINCONLY. Settle only income for transactions such as coupons and corporate actions.
• DEFAULTINCONLYNOCA. Settle only income for transactions such as coupons but not corporate actions.
• DEFAULTNONE. Settle neither transactions nor income for trades or corporate actions.

• No. Default. The system does not automatically settle trades, coupons, and miscellaneous income and expenses. You must schedule the settlement for these transactions using the global Run Contract Cash panel. Or, manually settle the transactions using the Run Multiple Settlements panel. If you use cash segregation based on actual cash settlements, you can schedule settlements using the Run Cash Auto Match panel and create settlements manually using Cash Matching. Eagle recommends that you set this field to No.
• Yes. The system automatically settles trades, coupons, and miscellaneous income and expenses. If you enter Yes, the system creates a settlement as soon as the trade is processed. There is no trade to settle date gain/loss. This applies even if the settlement date is in the future.

• Yes. The system performs cash suspense processing. If the transaction is not found, the system posts an entry to the cash suspense account. If you select Yes, the Replay Suspense Activity field becomes available.
• No. The system does not perform cash suspense processing. The system flags the unmatched transactions as errors and sends them to the Exceptions workspace for review.

• Yes. Default. The system activates the process that matches up a trade cancellation with the settlement, reverses the settlement, and replays the matching process. If there is no match, the item is posted into suspense.
• No. The system does not activate the process that matches up a trade cancellation with the settlement, reverses the settlement, and replays the matching process. When you use cash segregation and have a transaction cancelled, the traded cash and linked settled cash are cancelled.

• Yes. The system disables the recoupment of expense reimbursements.
• No. Default. The system enables the recoupment of expense reimbursements.

• Replicate Expense Accruals and Expense Settlements. Allows the replication of accruals and cash settlements. The Replication Switch field (tag 4971), which is displayed on the panels used to set up expenses and expense reimbursements, allows you to replicate the accruals, cash settlements, and reimbursements on an expense by expense basis, and determines the receivable/payable accounts in which to post the accruals and settlements. Additionally, the Replication Switch dropdown, which is displayed on the Post Manual Entry Local and Base window in the Ledger Center, allows you to replicate ledger postings on all accounting bases.
• Replicate Expense Settlements Only. Allows the replication of fund expenses only. The Replication Switch field (tag 4971), which is displayed on the panels used to set up expenses and expense reimbursements, allows you to replicate the accruals, cash settlements, and reimbursements on an expense by expense basis, and determines the receivable/payable accounts in which to post the accruals and settlements. Additionally, the Replication Switch dropdown, which is displayed on the Post Manual Entry Local and Base window in the Ledger Center, allows you to replicate ledger postings on all accounting bases.
• Do Not Replicate. Disables replication.

Identifies the special waiver processing method that the master fund uses. For more information, see Manage Special Waivers for Expenses. Options include: 

• None. Default. The entity cannot process special waivers.
• Assumption Fee. The entity can process assumption fees where you select one expense to waive and a second waiver processes the remaining expense over cap as an assumption fee. This is not an option for master feeder funds.
• Waterfall Waiver Daily. The entity can process waterfall waivers where you define fund and class level expense hierarchies to waive using daily gross expenses. Class level expenses are waived first and then fund level expenses are waived, as needed. This is not an option for master feeder funds.
• Waterfall Waiver FYTD. The entity can process waterfall waivers where you define fund and class level expense hierarchies to waive using fiscal year to date balances. Class level expenses are waived first and then fund level expenses are waived, as needed. This is not an option for master feeder and feeder funds.

• Yes. The system uses the broker code. If the broker is unique on each transaction, the system creates a new security master record for each forward trade with the same sell/buy currency and maturity date.
• No. The system does not use the broker code. The system does not create a new security master record for each forward trade with the same sell/buy currency and maturity date.

• Yes. The system allows closes of forward contracts prior to maturity. The system closes open forward contracts by offsetting forward contracts.
• No. The system holds all forward contracts until maturity. The system records separate long and short positions for offsetting forward contracts.

• Yes. You must add the forward contract to the security master file prior to booking a forward trade.
• No. You do not need to add the forward contract to the security master file prior to booking a forward trade. The system creates two security master records, one for each leg of the forward contract, when you book the trade.

• Yes. Default. The system does not allow you to book short future trades. All futures transactions are processed in one net position by the clearing broker.
• No. The system allows you to book short future trades. This value allows an entity to be long and short in one futures position. If this field is set to No, you cannot book open or close short future trades.

• Core. Default. The system posts a variation margin. No cost is recorded for the future transaction and commission is included as part of the cost and not paid out separately.
• UK. The system posts an unrealized gain loss. The system records the cost of the futures and commissions are paid right away.

• Yes. Default. The system does not allow you to book write and buy cover options.
• No. The system allows you to book write and buy cover options.

• Yes. Default. The system stores one net cap or floor position. An entity can be either net long or net short in the same cap/floor security master record.
• No. The system stores separate long and short positions. An entity can have both long and short position in the same cap/floor security master record. If you set the Net Cap Floor field to No, ensure you set the Tech Short Eligible Indicator (tag 57) at the entity level to indicate whether the position can go technically short.

• No. Default. The system does not allow you to view the entity status using the Control Center.
• Yes. The system allows you to view the entity status using the Control Center. All edit test procedures check this flag to ensure the entity is set up as a Control Center entity. If you select Yes, additional fields in this section become available.

• Valuation Close. Automatically closes valuation periods.
• Audit Close. Automatically closes audit periods.
• Both. Automatically closes valuation and audit periods.
• None. All periods must be closed manually.

• DEFAULT INCLUDE. Tests new purchases by using the current day market exchange price.
• DEFAULT EXCLUDE. Does not post trading gain/loss for new security purchases.

• Core. Used to attach out of the box edit tests upon fund setup.
• Non-Core. Used to add customized edit tests to funds during the fund setup process.
• None. Used to assign edit tests in the module after establishing them. Assigning edit tests at the composite level (not fund level) is easier to maintain.

• Lead entity, enter the value, Lead, in this field to designate the entity as a lead entity.
• Clone, enter the Entity ID of the lead entity in this field to create the link relationship between lead and clone funds.