Does it take too much time to finish your quarter reports because small problems slow you down? You can be ready for quarter end by performing some quick basic checks the week before the quarter ends. Running through the checklist below — before the quarter ends, can streamline your quarter end workload. Time to check the boxes!
Last week of month
- Post & Reconcile all share quantities.
- Reconcile cost basis.
- Use Data Manager to process new & closed accounts:
- assign proper billing specs
- assign models/targets
- update custom fields, account type, custodian, and/or advisor id for any accounts that might have changed since last quarter
- Update any client information that affects reporting (e.g. name changes through divorce/marriage; Children now grown who require their own report)
- Check spelling and groupings of new client names.
- Check that addresses are up to date if you include them on reports.
- Use Transaction Writer to make sure all dropped client accounts are empty.
- Make sure all new accounts are included in the proper groups.
- Use Securities Data Manager to make sure all new securities are assigned to the proper categories.
- Backup your data.
After the Quarter Ends
- Post & Reconcile all share quantities as of the last business day of the month.
- Reconcile cost basis.
- Update Sets and Smart Sets.
- Verify that your month end price file is complete. Retrieve any missing prices.
- Create a true-month price file with complete prices.
- Update report parameters for your traditional reports.
- Update billing specifications.
- Post late dividends and reconcile share quantities.
- Compute intervals. Check the status report and fix any issues.
- Update index figures.
- Run Global performance reports to review your data. Fix any errors or inconsistencies.
- Update models and targets as needed.
- Backup your data.
You are ready to run your performance reports and bills.
Need help?Photo taken by CelloPics and used here under Flickr Creative Commons.