Building Custom Cost Basis Reports in Report Builder 3.0

By May 14, 2019Tech Tip

Orion’s Report Builder 3.0 has a variety features to help you streamline your reporting process and gives you the tools you need to help you look your best! In this week’s Tech Tip, we’ll explore the cost basis function and how you can customize your settings.

What?

Keeping track of an asset’s cost is a crucial step in securities reporting. The cost basis of an asset shows whether the investment had a loss or gain and what the tax consequences for the investor will be. Using the Report Builder app, you can keep track of client assets and create customized reports surrounding a clients’ investment cost basis.

When building your cost basis report, it’s important that you select your Account Settings correctly. Occasionally, you will find that data returns may read as N/A for certain accounts. The reason this data may not be populating as expected is likely because the accounts are marked as Qualified Accounts. By default, Qualified Accounts and Money Market assets are set to be excluded from Cost Basis returns within Report Builder 3.0, but If you’d like to include them, we can help you adjust your settings.

How?

You can explore your Cost Basis settings and make changes within any report type.

First, open a new custom report or an existing custom report within the Report Builder app.

Once the report has opened, select the “Settings” drop-down on the right side of the screen.

Next, locate the “Cost Basis” section under the “Settings” drop-down and select the pencil icon.

 

After the pencil icon is selected, a new window will pop up with the settings that are specific to Cost Basis data that is displaying on the report.

To update your Account Settings to include Qualified Accounts and Money Market assets, simply select the two respective boxes. After both the “Include Qualified Accounts” and “Include Money Market” boxes have been checked, select “OK.” Now, all Cost Basis data for the level updated (Unrealized/Realized) will populate Cost Basis data for Qualified Accounts and Money Market assets.

Want to learn even more about our Report Builder Tool?

Hear from our Reporting Subject Matter Experts on all things reports in our on-demand webinar.

If you have questions or need additional assistance, feel free to contact Orion Reporting at reporting@orionadvisor.com

0473-OAS-5/13/2019

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Eddie Sempek

About Eddie Sempek

Eddie Sempek serves as Orion's Chief Innovation Officer. He has worked in several roles at Orion and now oversees the team of tech consultants. He enjoys helping firms in their strategic planning and implementation of technology.

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