4.6 GENEVA INTRODUCTION BOOKING JOURNAL AND MANUAL TRANSACTIONS (NOT FOR DISTRIBUTION FOR INTERNAL USE ONLY)

Transcription

1 4.6 GENEVA INTRODUCTION BOOKING JOURNAL AND MANUAL TRANSACTIONS (NOT FOR DISTRIBUTION FOR INTERNAL USE ONLY)

2 Table of Contents BOOKING JOURAL AND MANUAL TRANSACTIONS... 3 INVESTMENT RELATED JOURNALS... 3 Gross Amount Interest and Dividend Transactions... 3 Interest and Dividend Adjustments on Securities... 3 NON INVESTMENT JOURNALS, ACCOUNTING RELATED TRANSACTIONS (ARTS) AND MONTH END ACCRUALS BOOKING 6 Revenue and Expense Transactions... 6 Accounting Related Transactions (ARTs)... 9 Narratives: Use on each Transaction s Miscellaneous Tab for ART and Manual Entries

3 BOOKING JOURAL AND MANUAL TRANSACTIONS There are a number of different transaction screens available in Geneva that can be used to book the various types of journal entries. This section details the different types of journal entries that would be typically encountered as well as the most appropriate Geneva transaction in each circumstance. Investment Related Journals Gross Amount Interest and Dividend Transactions Interest and Dividendd Adjustments on Securities The two main Geneva transactions used to make adjustments on coupon interest or dividends are: Gross Amount Interest; and Gross Amount Dividendd Coupon interest on Assets Backs, Bonds etc are automatically generated and posted by Geneva. If there is a recurring difference between what Geneva hass posted and the actual amount paid/received, then this could be a result of incorrect security set up or variable rate schedule. Discuss with the PADM. If there is a once-off or minor difference in the interest received that needs adjusting, then select Transactions/Asset Servicing/Gr ross Amount Interest. Reports are organized into folders for specializedd areas. Forr example there are folders for: o o o o o Financial Statements. This folder contains: Statement of Net Assets Statement of Operations Statement of Changes in Net Assets Trial Balance Admiral. This folder contains the original customized Admiral Reports. Custom Reporting. This folder contains specialist client, office, processs and Maitland NAV Reports. Investment Specific. This folder contains specialist reports for Fixed Income, Swaps and Bank Debts. Positions. This folder contains a variety of portfolio reports.. 3

4 Enter the fields as per normal when entering a transaction. Below is an examplee of an $8500 adjustment on a US Treasury bond (912810FG8). Please note, to reduce the interest, a negative amount must be entered in the Gross Amount field. Similar to interest, dividends are automatically generatedd and posted by Geneva. If there is a recurring difference between what Geneva has posted and the actual amountt paid/received, then discuss with the DM (Dataa Management) at portfolio.data@admiraladmin. If there is a once-off or minor difference in the dividend received that needs adjusting then select Transactions/Asset Servicing/Gr ross Amount Dividend. Enter the details of the dividend. Below is an example off a $1000 dividend entered for IBM. Caution should be taken with the Lookup Withholding Percent. If this box is checked, Geneva will calculate the withholding tax in accordance with the Geneva s withholding tax matrix specific to each country. In the example below, the w/h percent is 30% (The use corporate wht) resulting in a cash entryy of $700. 4

5 A $1000 cash adjustment the transaction would look as follows: Please note, the desired w/h tax percentagee can be entered in the Withholding % field. 5

6 Non Investment Journals, Accounting Related Transactions (ARTs) and Month End Accruals booking Revenuee and Expense Transactions Revenuee and Expense transactions are used to enter miscellaneouss revenues or expensess to a specific portfolio. These transactions to record: Deposit received or paid Stock Loan Fees Custodian Fees Rebates To enter a Revenue transaction, choose Transactions/Asset Servicing/ Revenue (or Expense) As per usual, select your portfolio, investment, custodiann account. For Investment and Payment Currency, an ISO currency code is usually selected. 6

7 The Revenue and Expense transaction is flexible as anyy revenue orr expense financial account can be selected. Below is an examplee of deposit interest booked to a cash account. Thesee transactions are flexible as the appropriate financial account can be selected from the dropdown menu. Below is an example of a CIMA fee booking. 7

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9 Accounting Related Transactions s (ARTs) The Accounting Related Transaction (ART) can be usedd for other activity not related to a portfolio s investments, such as pre-paid expenses and accrued liabilities. To enter an ART choose Transactions/Adjustments/Accounting Related. As per usual, select your portfolio, investment, custodiann account. For Investment, an ISO currency code is usually selected. Below is an examplee of an ART to accrue month end administration, audit, management and performance/incentive fees. 9

10 Narratives: Use on each Transaction s Miscellaneous Tab for ART and Manual Entries All transaction types have a Miscellaneous tab. It is important to write narratives for journal transactions such as Gross Amounts, Revenue or Expense, orr Accounting Related Transactions as this are often adjustment entries orr entries used to capture an exceptional transaction. Narratives provide a record and audit trail for transactions thatt are not self evident such as buys/sells, coupon interest etc.etc. To enter a narrative, go to the Miscellaneous tab and enter thee narrative in the Comments section. 10