Every report, bill instance, and trade order you complete in your portfolio accounting software is only as good as the underlying data supporting it. Orion’s team of data reconciliation experts reconcile asset positions, prices, and values six days a week to make sure your database stays clean and at-the-ready for you to accurately run your business.
But every once in a while, the data a custodian sends for an account simply…stops. There can be a number of reasons for why an asset may still show a value in Orion, but suddenly have no trace in a data feed. And that’s where the Asset Comparison Report comes in to help you keep your database clean.
What is the Asset Comparison Report?
The Asset Comparison Report is a report that contains a list of accounts and assets that have a value in Orion but did not receive a position file for the date the Report was run.
When Can I View the Asset Comparison Report?
This Report is automatically run on the last business day of the month for every Orion advisor. The results can be viewed for the entire month prior to the next Report being run.
Who Can View the Asset Comparison Report?
Any user that has access to the Interface Reconciliation App will receive a notification when the report is run. Click on the link at the bottom of the notification to review the results, or go to the Interface Reconciliation App > click on Monthly ACR.
Orion Pro Tip: Don’t want someone on your team to view the Report? Access to the Interface Reconciliation App can be maintained through the Manage User App.
Why are Accounts on the Asset Comparison Report?
The Report results can be caused by a variety of things. For example, the account may have been canceled at the Custodian, but not canceled in Orion; the representative may have changed at the Custodian or the download source; or the custodian’s download coding may have changed.
How Do I Resolve Issues Found on the Asset Comparison Report?
To resolve the accounts that appear on the Report, you will need to review the accounts individually. If you are no longer managing the account, you can easily cancel it in Orion to take its balance to zero and set it to an inactive status. If you are still managing the account, however, then you will need to contact your Custodian and ask them to repair the data feed.
Orion Pro Tip: One of the most frequently asked questions that we receive is what does the “Account Not Found” message mean in the Message column of the report. The Orion system is searching through all of the Position Files that were received for the last business day for all of the accounts. The “Account Not Found” message means that the account was not found in those Position files. For more information, see the Asset Comparison Report FAQ within Orion Support.
The Asset Comparison Report is just one of the many tools available in Orion to help you easily identify and resolve potential data issues. Keeping up-to-date on your Asset Comparison Reports is an important piece in the overall health of your data. If you haven’t yet, download your latest report and get to know it today!
The functionality covered in Tech Tip Thursday is available and ready to use right now in Orion Connect. If you want more training about the apps and tools covered in this article, log into Orion Support to access our full knowledge base, and use the Ascent app for online, on-demand training resources.
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