Download Process Report
Contents
From the Sidebar Menu, click on Investments and then click on the Download Icon. Choose the download module you wish to use. Click on the Report Button from the Main Download Screen. Then click on Run Report For Selected Files Button.
Download Process Report Overview
This screen lets you choose the reports you want to view. It's important to view the Exceptions, but most of the other reports are more useful for troubleshooting.
Always Print When There Are Exceptions
How To Use This Screen
The suggested areas of the report are already checked. The number of records are also indicated next to each category.
The screen above is not typical in that we only used demonstration data provided by DST. However, it is indicative of a first download, except for the small number of records.
Uncheck any areas in which you are not interested.
Registration Exceptions
Registrations are sent for all new accounts. They are also sent along with your first download. Some clearing firms send registration data more often than this.
Registrations can be used to initially populate Advisors Assistant with your clients' names and addresses and their account data.
You can view registrations to see what new client and account data has been sent.
Examples of Registration Exceptions
No account number sent
Cannot identify the advisor or rep
Cannot identify the security
Position Exceptions
Positions represent asset balances. Advisors Assistant compares the position sent by the vendor (in shares in the asset) with the number of shares calculated by Advisors Assistant based on transactions stored in Advisors Assistant. It will then reconcile any out of balance assets by adding a Reconcile Transaction.
The basis for an asset being out of balance is the tolerance set by the administrator in the System Preferences. The default is .001 shares (one thousands of a share) but it can be reset down to .000001 shares (one millionth share.)
Examples of Position Exceptions
No account number sent
Cannot identify the advisor or rep
Cannot identify the security (No cusip or symbol)
No date of position
A position exception is usually caused by missing accounts or assets. Sometimes a position may be sent before new account information is sent. The first time you see a position exception, you can ignore it if it is a new account or asset, but if you see the same exception for more than a few days, you should note the account number and asset on the Exception Report and call our Technical Support. Position exceptions will often resolve themselves once the account or asset is sent.
Out Of Balance Positions Reconciled
Unless you are performing your first download, you should not have have reconciles of more than small fractions of shares.
If you have reconciles of, for example, 2.4 shares, a transaction, such as a dividend, could have been missed, and you should check the vendor's website for a transactions of that number of shares. If a transaction was missed, please note the date, amount, and type of transaction and contact our Technical Support. We will then check your raw data files to determine the cause. The cause is usually an "Unknown Transaction Type" that had previously been ignored. (See below.)
First Download Will Produce Many Reconciles
Your first download will not include any history of transactions, so the initial position will be compared with 0 shares already in Advisors Assistant. The system will produce an initial reconcile to provide the correct asset balance. From that point on, the reconciles should only be very small to reflect rounding, or it could mean that a transaction was missed.
Transaction Exceptions
Transactions are sent by the clearing facility for all downloads except Albridge, which does not send transactions.
Some clearing firms will create new types of transactions without informing their vendors about the type or how it is used. When Advisors Assistant finds a transaction type which is not in its list of types, it creates an exception.
Examples Of Transaction Exceptions
No account number sent
No advisor information sent (advisor, or rep code)
Cannot identify the security due to missing CUSIP or symbol.
No transaction code sent
If a transaction has an account number, but the account has not been set up in Advisors Assistant, it will go into the unassigned area to be assigned later. This will usually happen when an advisor takes over an existing mutual fund account and registration data is not sent because it is not a new account. It is new to the producer, but not new to the fund, so registrations are not sent and the account is not set up. The assignment wizard helps with this situation, so it walks you through the steps needed.
Click HERE for more about Transaction Exceptions.
Print All Transactions will list all of the transactions, not just the exceptions on your report.
Cash Balance Exceptions
Cash balances are the balances for the sweep or Cash Balance Accounts. Often they have a zero balance, but from time to time they will have a balance for a few days.
Examples of Cash Balance Exceptions
No account number sent
Cannot identify the advisor or rep (No advisor or rep code included)
No position date sent
Securities Added
The list of securities added can be useful because the information about securities sent by the clearing firm does not include much of the information stored in Advisors Assistant. Information like Category, Sector, and Objective are not sent. You may want to backfill this data, so knowing which securities have been added to your system can be important.
Policies / Coverages Exceptions
If the download includes life insurance information and cash values, you may see some policies and coverage records listed here.
Examples of Policy & Policy Position Exceptions
No policy number sent
Cannot identify the advisor or rep (No advisor or rep code included)
Not enough information to identify the Plan of Coverage
The Base Coverage in the download is different from the base coverage in the existing policy.
There are multiple coverages in the same policy with the same plan of insurance.
Policy Position Exceptions
Policy Positions refers to the cash value of the policy. If a position is sent and no policy has been previously sent by the Company, then the Position cannot be processed.
Show List of Files on Report
If you want to see the actual file names which contained the data processed for the information shown on the report, check this box. This is more for troubleshooting than for everyday use. This information can be useful in determining if any files were missing from your data feed.
See Also
Out Of Balance Share Tolerance
Download Exception Review Items
Processing Downloads (13:44)
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Printing reports on paper can use lots of paper. It is not recommended. Use the Report Viewer's search function to look for any data in which you are particularly interested. |
