| |
The Transaction Import module pulls in transactions from an external electronic
file into TRUSTprocessor to create standard transactions, ready to proof and
post.
Data can be imported from any 3 types of formats: ASCII fixed length, Excel or
Comma Separated Values (CSV). You can build files for import or use files from
third-party providers.
|
In order to import, each transaction on the import file needs to include …
|
| |
- either the actual TRUSTprocessor account number or a unique ID that will map to a
specific TRUSTprocessor account. This can even be configured so that multiple
external accounts will map to the same TRUSTprocessor account.
- either the actual TRUSTprocessor transaction code or a unique code that will map to
a specific TRUSTprocessor transaction code.
- for security-type transactions, either the actual TRUSTprocessor Asset ID or a unique
code that will map to a TRUSTprocessor Asset ID.
- for sales or adjustments to existing positions, a tax lot ID or purchase date (unless
you want the system to use the accounting method defined for the account).
- for purchase transactions, a column showing the purchase date.
- other fields to complete the transaction (transaction date, settlement date, location,
transaction description and reference field).
|
The Transaction Import module adds
benefit to the core system by … |
| |
|
| |
- greatly reducing the time it takes to create transactions if they are available in any
standard electronic format.
- eliminating the chance of human error through bypassing data input.
- allowing import from any number of third parties. Once you create a template for a
certain data source, it can be re-used as long as the data format remains the same.
- allowing import from spreadsheets that you create in-house. If you have repetitive
transactions, this may be the most efficient way to manage them.
- providing a safeguard against incomplete data files by cross-checking the number of
transactions with the totals in a footer row.
- providing the same data validation as if you were entering the transaction by hand.
The Exceptions Report shows missing or invalid dates, transaction codes, Asset ID or
account numbers. It will also show messages such as a short sell warnings.
- allowing you to configure whether the tax lot ID for purchases and income
reinvestments will be imported or automatically assigned by the system.
- following the cost basis rules established for each account. For example, if an account
is set up for FIFO (First In First Out) accounting, a single sale transaction on the
import file could result in multiple TRUSTprocessor transactions to sell the correct tax
lots.
|
| |
- Corporate Actions – will properly handle each tax lot to transfer book value and
purchase date information to the new assets.
|