News

Version 4.3.3 – February 18, 2011

Enterprise-Level Enhancements:

User Security: Profile List – Additional user permissions created allows system administrators to control User Account View. Administrators may Add, Update, and Delete credentials for the following Profile types:

  • Customer
  • Investor
  • Vendor

The additional permission set is added to the existing Actions tab within the User Accounts menu (Main → Enterprise Operations → Users → User Accounts).  Profile-based permissions are found in the Enterprise section of the Actions menu, under the sub-heading titled ‘Profiles’.

Price from Excel Upload: Validation Message – After uploading the Price from Excel x-file template into the ATWeb Security Master, a validation message displays the total number of records processed from the file.  Additionally, the validation message identifies the total number of records successfully uploaded and the number of records unsuccessfully uploaded.  The Price from Excel function is accessed through Main → Enterprise Portfolio → Security Master → Securities → Market Value tab → Import from Excel.

Failed Staging Table Transactions – An enhancement to the Enterprise Portfolio Staging Table (Main → Enterprise Portfolio → Import Transactions) allows for easier resolution of transactions that failed processing.  As successful records are processed out of the staging table and only failed transactions remain, users now hover over each failed transaction to view the error message indicating what is preventing successful processing.  Additionally, an Export to Excel option allows users to view the failed transactions in Excel.

Stock Splits on In-Kind Transactions – The system logic surrounding the in-kind contribution of securities is updated to handle the impact of historical stock splits.  Prior to this release, the share quantity of a tax lot contributed in-kind had to reflect the pre-split quantity if a stock split record existed in ATWeb with a split date between the original trade date and contribution date of the tax lot.  ATWeb now recognizes the contribution date of the tax lot along with its relationship to the stock split date and will not affect a tax lot contributed with an in-kind date after the stock split date.  As such, users now load the post-split quantity for tax lots contributed in-kind.

IMPORTANT NOTE:  If a user intends to revert an Entity back into prior accounting periods where tax lots were contributed in-kind with pre-split quantities, the tax lots will need to be updated to reflect post-split quantities.  Archway Support can assist in identifying the affected in-kind transactions.

Cash Management: Ability to Track Gifts – ATWeb now provides users the ability to designate Cash Management transactions as gifts.  An additional checkbox labeled Gift is directly underneath the Post Date field in the Add Cash Management Transaction window (Main → Enterprise General Ledger → Cash Management → Add). 

Modeling & Rebalancing – The Modeling & Rebalancing Module is enhanced to allow for user interaction and analysis at the Entity level, in addition to the levels previously available.  The following detailed enhancements are included in the existing Modeling & Rebalancing tools (Main → Enterprise Portfolio → Modeling & Rebalancing).

  • Modeling – Model assignments can be made at the Entity level, in addition to the levels previously available.
  • Model to Actual – Model to Actual analysis can   be performed at the Entity level, in addition to the levels previously available.
  • Investment Guidance – The Investment Guidance functionality provides users the ability to designate Favored Securities and Out of Favor Securities at the Entity level, in addition to the Profile level previously available.
  • Restrictions – The Restrictions functionality provides users the ability to establish restrictions globally at the Entity, Portfolio and Security levels, in addition to the previous Tax Lot level.  While applying restrictions at these levels, only tax lots visible in the grid at the time the restrictions are saved will be affected.
  • Rebalancing – In addition to performing Rebalancing Sessions at the Profile level, users have to ability to create Rebalancing Sessions and perform the analysis at the Entity level.  Additionally, Rebalancing users will be able to evaluate the effect of realized gains/losses at the tax lot level by selecting the Tax Lots button, once a Rebalancing Session is in an ‘Approved’ status.

 

Entity-Level Enhancements:

Basis Transfers – An enhancement made to the Basis Transfer process (Modules → Portfolio → Transactions → Basis Transfers) provides users the ability to attach notes to a Basis Transfer.  A Notes field is included in the Add Basis Transfer window, which can be used to attach a custom note to each basis adjustment.  The note will be propagated down to the journal entry created in the General Ledger to record the basis adjustment.

Nested Entity Validation – An enhancement to the Accounting Period close process notifies users when a nested investment General Ledger value does not reconcile to a nested investment Portfolio value.  ATWeb will determine the nested investment General Ledger balance by summing the values of the following General Ledger accounts (integration points defined through Portfolio setup):

  • Investments
  • Nested Entity Cost

This value will be compared to the nested investment value calculated in the Portfolio module.  The notification message will alert users that the values do not reconcile, but will not prevent the Accounting Period from being closed. 

Investor Module Capital Activity for Nested Owners – A nested entity integration enhancement is included in the Investor Module to automatically post balance sheet entries in the nested entity as a result of capital movements in the subsidiary entity.  Capital movements include contributions, withdrawals, and transfers. 

The Accounting Period Module close cycle processes Investor Module capital movements as it currently does today.  In the nested entity, the Portfolio Module’s Update and Edit Post PM function will trigger the process to post the balance sheet entries to account for the capital movement entered on the equity account in the subsidiary entity.  If the Nested Cost account is configured for portfolios and the entity’s Inter-Company account is configured in GL Basics, the debit/credit journal entries will automatically be recorded to those respective accounts.  If the Nested Cost account is not configured or if the Inter-Company account is not configured, the journal entries will not be recorded.   

Journal entries posted in the nested entity will follow the same posting order as capital movement journal entries in the subsidiary entity (i.e. Contributions post on the first day of the next period, Withdrawals post on the last day of the current open period, and Transfers post on the first day of the next period and last day of the current open period, depending on the equity account acting as the transferee or transferor).

IMPORTANT NOTE:  If a client reverts into a period where Investor Module capital activity has been entered, and the equity account is linked to a nested entity portfolio, the system will automatically create balance sheet entries as described above.  Any manual entries already booked to account for the capital changes will need to be deleted to eliminate any duplicate entries.

Track Open and Close Dates for Entities and Portfolios

Open Date and Close Date fields are a part of ATWeb at the Entity and Portfolio levels.  A description of each feature is listed below:

  • Entity
    • Location within ATWeb:  Modules → Setup → General Ledger → GL Basics
    • Functionality:  Open Date is for tracking purposes only.  The Close Date field will determine if an entity appears in the Entities list.  If the Close Date is prior to today’s date, the entity will not appear in the Entities list.  By disabling the “Active Only” checkbox within the Entities search parameters, all closed entities will continue to appear in the list again. 
  • Portfolio
    • Location within ATWeb:  Modules → Setup → Portfolio Module → Portfolios → Basics Tab
    • Functionality:  Both Open and Close Date fields are for information and tracking purposes only.  Closed portfolios will continue to appear in all available portfolio drop-downs.  

 

Reporting Updates:

Reports – The following reports and report updates are available in the Reporting Module:

  • Unrealized Gain/Loss by Portfolio – The Unrealized Gains and Losses by Portfolio report displays the unrealized total for each security and security type out to 2 decimal places.  Prior to this release, this report rounded these figures to the nearest dollar.  This enhancement will impact both the Local and Reporting Unrealized columns.  The Unrealized Gains and Losses report is available through Modules → Reporting → Reports → Portfolio Reports.
  • Private Equity Summary – The Private Equity Summary report now provides the option to generate an XIRR return in additional to the IRR return currently available.  The IRR calculation assumes cash flows occur within equal time periods, while the XIRR calculation considers the date of each cash flow.  As such, the XIRR calculation may be more relevant for Private Equity investments that do not generate cash flows in regular intervals.  The Private Equity Summary report is available through Modules → Reporting → Reports → Portfolio Reports.
  • Statement of Assets and Liabilities – The Statement of Assets and Liabilities report includes nested holdings in the report.  This includes the option to display the nested holding as a row on the report, or to display the market value exposure to the underlying (indirectly held) asset held in the subsidiary entity(s).

 

New Reports:

  • Investment Performance by Entity (with Liquidity)
  • Net Asset Value Summary by Profile – The Net Asset Value Summary by Profile report displays a summarized Beginning NAV (Net Asset Value), changes to NAV and Ending NAV for a selected Profile or Profile Class over a user-defined date range.  An option to consolidate across the selected Profiles and Profile Classes is provided at run-time, along with the option to customize the report name.  This report leverages the use of General Ledger Account Classes to categorize the changes in NAV through the reporting period.  The Net Asset Value Summary report is available through Modules → Reporting → Reports → Investor Reports.

 

Other Updates:

Integrations – Archway Development now allows integrations with the following data providers:

  • SunGard (AddVantage)
  • SunGard (Phase 3)
  • Merlin Securities

 

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