Reconciling Tax Lots by Splitting Lots and Re-Initializing Lots

Before you can reconcile tax lots, you must first either initialize or import, reconcile and post your client transaction, position and price files. Follow the standard process, but you will notice a new row in the Import files window for tax files, which is selected by default.

For an overview of the Tax Lots blotters click here.

To Reconcile Lots

  1. Start on the Imported Open Lots blotter and click Reconcile at the top of the screen.
  2. In the new window, choose the account(s) to reconcile by checking the box at the top left.
  3. Click Reconcile at the bottom right. Depending on how many accounts you have this can take several minutes.
  4. Click OK on the warning message that lets you know some lots did not reconcile.
  5. Notice the Reconciliation Results blotters will have results with a number written in red font.
  6. Click on the Mismatched Lots blotter. Only one account can be completed at one time. Select all of the items for an account by selecting the first line item, hold down your shift key and select the last line item for that account.
  7. Now select your reconciliation method, either Split Initialized Lots or Re-Initialize Lots. For both processes, see continue below.

Note: For more information on the reconciliation options click here.

To Split Lots

  1. Click on Split Initialized Lots. All positions are listed in the grid view and the left side of the screen displays Office data while custodian data is listed on the right.

  2. Click Split and the data from the custodian is copied to Office.

  3. Click Next

  4. The new window displays the cost basis on the Log Acquisition Date and Cost Per Share fields. Click Post. This will post the transactions to the account in place of the original Deliver-in transactions. 

  5. A confirmation appears; click OK. These lots will now appear in the Matched Lots blotter. 

  6. Repeat this process for the remaining accounts.

 

To Re-Initialize Lots

  1. Click Re-Initialize Lots at the top of the screen.
  2. The new window displays the positions, the Office data on one side, and the custodian data on the other. Click OK.
  3. The new window displays the cost basis on the Log Acquisition Date and Cost Per Share fields. Click Post. This will post the transactions to the account in place of the original Deliver-in transactions. 
  4. A confirmation appears; click OK. These lots will now appear in the Matched Lots blotter. 
  5. Repeat this process for the remaining accounts.