To clear or not to clear ... that is the question ...

When considering using automated loads of data into your superMate system you need to think carefully about whether you will be utilising clearing accounts in the process or not. One of the key decision points is whether you are utilising more than one data source for the same fund. For example, a load of your banking transactions and a load for the contract notes. If you process like this we would recommend using a clearing account since if it is not utilised, you would end up doubling the information through your cash account.

Will clearing accounts double your workload? No, in fact they will simplify it as the clearing reconciliation tools in superMate mean that you are only dealing with the exception transactions.

What is the differences in setup? If you are not utilising clearing accounts then your transaction load rules in your banking load will need to identify the corresponding asset that is being bought or sold (try to make use of the token). This can be difficult in some cases as some broking firms only put a narration that indicates a buy or sell and not the asset. Utilising the clearing accounts can then make the rules simpler and give you a higher hit rate on the automatic coding, as you only need to identify buys or sells and point it to the investment clearing account. The only other difference is that the secondary transaction accounts for the broking load will need to be set to the clearing account.

To simplify the setup, the Supercorp Team has provided a set of over 400 transaction rules for Macquarie Cash for the non-clearing account method and an equivalent set for the clearing account method. Simply decide on the method, or discuss this with the Support Team, and then we can load them into your database immediately.