Pershing

About Pershing:

Pershing provides files (usually through InfoDirect) for download that you will use to import into our software and you must contact their customer support department and ask them to generate these files. Portfolio Director Desktop can import the following types of files:

• GCUS: Customer positions
• FUND: Fund positions
• GACT: Activity
• ACTV: Fund activity
• ACCT: Account updates
• ACCF: Full account refresh
• DESC: Security Descriptions

Note: If you don't have money fund positions, the FUND and ACTV files won't be necessary.

Each day the Pershing download provides you with the above group of files for importing. The entire group of files must be selected as a "set" when importing them into Portfolio Director Desktop.

Note: You must perform your initial import into Portfolio Director Desktop with a day that has a full account file (.ACCF), or you will have incomplete client and account information.

General Import Tips:

• If you're going to 'back load' data, always work from earliest date forward. For example, if your account was opened on Jan 5, 2003, import Jan 2003 onward. Do not import Nov 2003, then go back one-month and import Oct 2003 transactions. Always import the transactions in chronological order. The reason for this is some transactions (e.g., Sell to Close that occurred in Nov 2003) require the originating position (Buy to Open that occurred in Oct 2003) to be present. Without the originating position, this will cause an import discrepancy situation.
• Try not to import the same day more than once. Most of the time this will not cause any problems, but occasionally it results in duplicate transactions that will throw off the account and/or position balances. Portfolio Director Desktop does not offer a way to let you know what day was last imported so here are a few tips to help you keep track.
• Create two directories on your computer. One called "archive" and one called "incoming". The files to be imported into Portfolio Director Desktkop from your broker should be placed into the "incoming" folder. 

  
 After you import the data from your broker into Portfolio Director Desktop, you should move the files to the Archive folder. This will help avoid duplicate data from being imported.
• Print a calendar from a program such as Microsoft Outlook or Apple's iCal and check off each day as it is imported.

Initial Import:

The initial import is used to setup your clients, their accounts, and positions in Portfolio Director Desktop. It need only be performed once, and you should select only one day's worth of files for import. Failure to do so will result in only the last day's data being imported and established. Please follow the appropriate directions for your situation from the list below:

If this is the first time you are using Portfolio Director Desktop and are presented with a dialog box asking you to "Manually Setup Client Accounts" or "Import Client Information", use these instructions:

1. Select "Import Client Information".
2. Select "Pershing File Import" from the list, then click "Next".
3. Read and agree to the notice.
   Navigate to the folder where your Pershing import files are located and select only one day's worth of files for import, then click "Next".
   Remember: You must perform this initial import into Portfolio Director Desktop with a day that has a full account file (.ACCF), or you will have incomplete client and account information.
   Tip: You may select individual files by holding down the Control key and clicking on each file, or select a range of files by clicking on the first file, then holding down the Shift key and clicking on the last file.
4. Portfolio Director Desktop will display the number of import transactions and some other information about the pending import. Click "Next".
5. After the import is complete, click "Finish".
6. Click on the "Maintenance" tab (near the top of Portfolio Director Desktop’s main window).
7. Click on the "Client Management" option and verify all your client accounts were imported. In the left panel, you may click on the client name to view the client information, and you may click on a custodian account to view the custodian account information. DO NOT EDIT THE "ACCOUNT NUMBER" FIELD.
8. Click on the word "Portfolio" in the left panel at the top of the list. On the right panel, enter the name of your Portfolio (e.g., your company name) , and click "Apply Changes".

If you already have data loaded from another brokerage, use these instructions:

1. Click on "Import Daily Activity Data" which is located on the "Maintenance" tab.
2. Select "Pershing File Import" from the list and click "Next".
3. At the "Supported Actions" list, make sure you check "Establish Initial Positions", uncheck "Daily Transactions", and then click "Next".
   
 Navigate to the folder where your Pershing import files are located and select only one1 day's worth of files for import, then click "Next".
   Remember: You must perform this initial import into Portfolio Director Desktop with a day that has a full account file (.ACCF), or you will have incomplete client and account information. 

   
 Tip: You may select individual files by holding down the Control key and clicking on each file, or select a range of files by clicking on the first file, then holding down the Shift key and clicking on the last file.
4. Portfolio Director Desktop will display the number of import transactions and some other information about the pending import. Click "Next".
5. After the import is complete, click "Finish".
6. Click on the "Maintenance" tab (near the top of Portfolio Director Desktop’s main window).
7. Click on the "Client Management" option and verify all your client accounts were imported. In the left panel, you may click on the client name to view the client information, and you may click on a custodian account to view the custodian account information. DO NOT EDIT THE "ACCOUNT NUMBER" FIELD.

Congratulations. Your client data is now imported and you are ready to begin using Portfolio Director Desktop.

Cost Basis Information:

This broker does not provide cost basis data for the "established" positions or positions that are transferred into accounts on an initial import.

In other words, if you had bought 300 shares of "DELL" on 2/2/2003, then 200 shares on 4/12/2004, for a total of 500 shares and perform an initial import with 12/29/2005 import files, we established 500 shares in the account as of 12/29/2005. However, since Portfolio Director does not have the initial buy transactions, we cannot calculate the original cost basis. Portfolio Director Desktop will track cost-basis for purchases after the date of install, because the import loads the daily transactions from your broker.

Although cost basis is not required for performance reporting, it is required for realized gain/loss reports. For more information on entering cost basis information, please read the Historical Positions Document located on Portfolio Director Desktop’s support page.

Daily Import:

To import your incoming files into Portfolio Director Desktop:

1. Click on "Import Daily Activity Data" which is located on the "Maintenance" tab.
2. Select "Pershing File Import" from the list and click "Next".
3. At the "Supported Actions" list, just accept the defaults (IE: DO NOT check "Establish Initial Positions") and click "Next".
4. You are shown a list of all the clients you can import data for. All of your Pershing clients are selected by default, so you can just click "Next".
   When prompted, navigate to the folder where your Pershing import files are located and select 1 one or more sets of files for import, then click "Next".

   
 Tip: You may select all the files for import by pressing Control-A, select individual files by holding down the Control key and clicking on each file, or select a range of files by clicking on the first file, then holding down the Shift key and clicking on the last file.
5. Portfolio Director Desktop will display the number of import transactions and some other information about the pending import. Click "Next".
6. After the import is complete, click "Finish".
   Tip: If you will not be performing daily imports of your data, we suggest you import no more than one to two weeks of data at a time. This will make resolving discrepancies easier.

Discrepancies

When importing data from your broker you may occasionally see an import discrepancy. The most "critical" discrepancies are "balance" discrepancies or "Unprocessed" data. These should be corrected before you continue importing more data. In most cases though, you should not see any discrepancies.