Processing More Events

Introduction

At this point in the exercise you’ve processed and posted on event. In this section you will process more of the sample events and review their effects on the fund’s commitments, finances and portfolio.

Processing Multiple Events

Navigate to the event processing page using the Process Previously Saved Events link located in the top panel of the Home page.

Select the simple-test event set in the dropdown to display its events.

This is similar to the last time you viewed the page. However, the status indicator icon in first column has changed to a green check-mark. This indicates that the event is present in both the :current and :pending environments i.e. it has been posted.

Select the next twelve (12) events using the checkboxes in the first column; down as far as closing-02, but don’t select the closing-02 event. We’ll return to it later.

Click on the Process button at the top of the page to begin processing.

You will be redirected to the log page where you can see the server’s messages scroll by as each event is processed through the system.

Quick Review of Results

Now, conduct a quick review of the partners’ commitment positions after the the events just processed, and prior to the processing of the second fund closing closing-02.

By default, most of the system’s reports will display information for the :current environment. Because we’ve processed, but not yet posted the events, you will have to select the :pending environment in the dropdown at the top of the form to view the commitment effects of the events.

You can see that the partners payments for the initial closing have been recorded and also the two subsequent pairs of calls and payments, bringing the fund’s total paid-in amount to $450,000, with no unpaid amounts.

The total amount available for use is $1,950,000, less than the partners’ total commitment amount of $2,000,000. This reflects the $50,000 investment in TG Accounting JV (:pc-001) which was contained in the set of events just processed.

If you review the fund’s financials in the :pending environment using the Financial Report,

you will see the portfolio and financial ledger effects of the newly processed events.

You can see a $15,000 balance in the Expense accounts due to the Fund expense of $5,000 paid on 2018-02-02, and the Portfolio expense of $10,000 on 2018-02-03.

The balance in the Income accounts reflects the deposit interest of $1,000 received on 2018-02-02, the dividend of $10,000 received on 2018-03-04, and the valuation adjustment of $10,000 made on 2018-03-03.

Note that in this case, although the dividend was booked as Income, it is also possible to book a dividend as a cost adjustment on the underlying instrument.

The balance of the Asset accounts reflects the totals of the payments received from the contributing partners, less the expenses paid in cash, plus the cash received as income and the valuation adjustment.

In order to view any of the details, it’s possible to drill-down into any of the accounts by clicking on it’s name.

For example drilling-down through the Income accounts you can see the following

and if you continue to drill-down through UnrealizedGainLossIncome and the investment account pc-001, and the partner account p-002 you can view the details.

You can see the $5,000 of unrealized income due to the valuation adjustment on the 3rd of March and the effect of the conversion that occurred on the 6th of March. Effectively, two thirds of the position (as ‘Series A’) was removed and replaced with ‘Series A (Conv.)'.

Post the Results

You should return to the Environment Control Panel from the link on the Home page (or by clicking the Environments item in the main slide-out menu).

Click on the Post Pending button to post your results to the :current environment.