Accounting Services
BNY Mellon Asset Servicing's accounting system is a trade-date, full-accrual, multicurrency accounting system. We pride ourselves in providing all the necessary accounting functions required by investment managers including daily fund valuation and participant/unitized accounting.
Features and controls of our product offering include:
- Multicurrency/multi-base general-ledger processing
- Participant/unitized accounting
- Daily online access and timely reporting via the Internet
- Flexible valuation periods supporting daily, weekly, bi-weekly and monthly valuation periods
- Comprehensive accounting for derivative securities
- Multiple vendors for pricing and corporate actions processing as well as the ability to accept any client-directed pricing feed
- Interest and dividend reclaim processing
- Four simultaneous currencies per transaction
- Separate currency and investment gain/loss accounting
- Amortization of foreign and domestic securities
- Unique foreign asset processing capabilities
- Automated plan-level accounting by earnings components
- Client-specific general ledger interfaces available
- Customized private-label statements
Monthly Valuation
Our monthly valuation services use sophisticated proprietary technology and rigorous controls to produce fully audited accounting statements in a timely and accurate manner. Our accounting system is a true, trade date, full accrual, accounting and reporting system, supporting all types of domestic and international assets in either a single or multicurrency mode.
- Equity
- Debt
- Currency
- Alternative investments
- All derivative securities
Daily Valuation
Our daily valuation process is focused on one goal: ensuring the accurate valuation of every portfolio every day. Daily transactions that are posted to investment options must pass through multiple system edit reviews.
Fund Accounting
Our global pricing and valuation platform is a real-time, full multicurrency, double-entry accounting system supporting all major fund types including OEICs, unit trusts, life and pension funds in addition to multiple U.S. product types.
- Full daily fund accounting and statutory reporting service
- Multi-manager support
- Data aggregation solution (for fully delegated fund management strategies)
- Multi-share class functionality
- Flexible valuation periods and pricing points
- Hierarchical fund structures
- Central operations support
General Ledger Feeds
Our general ledger accounting system allows us to electronically feed information directly into each client's internal accounting systems through an automated general ledger interface that is custom designed to match every general ledger category on a client's internal systems.
Investment Accounting
Our global pricing and valuation platform comprises a real-time, full multicurrency, double-entry accounting system supporting tens of thousands of segregated portfolios and investment funds.
Investment Accounting Software
Provided by Eagle Investment Systems, Eagle STAR® is a Web-based multicurrency global investment accounting system. Delivered with a standard set of operational and accounting reports, its fully integrated reporting component enables organizations of all sizes and complexities to deliver accurate and timely information.
Management Accounting
BNY Mellon Asset Servicing provides a full service for the preparation of management company accounts and statutory and taxation returns.
Partnership Accounting
Partnership accounting services include:
- Fund administration
- Participant reporting
- Daily, weekly or monthly accounting and valuation
- Private-label reporting services
- Online reporting
- Federal 1065 filings
- K-1 preparations
Plan Accounting
Plan accounting is a function of our trade date, full accrual accounting system and can be performed on either a constant dollar unit or a fluctuating unit value basis.
Sub-Fund Accounting
Sub-fund accounting accounts for and reports on the underlying donations of an endowment/foundation plan. Advantages of our sub-fund accounting process include rapid turnaround time, detailed reconciling/balancing controls, seamless interface with electronic spreadsheets, disaster recovery, transaction history retention and customized reporting.
Tax-Lot Accounting
Our cost calculation methodology includes tax lot cost by FIFO, LIFO, highest cost, lowest cost and selected lot. For lot accounting, an average lot cost per share is used; as each lot is delivered down to zero shares, the next lot is used.
Unitization
BNY Mellon Asset Servicing offers four different types of unitization including fixed unit allocation, fluctuating unit allocation, cost distribution and daily balance method.