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This article applies to:

  • Product: ONESOURCE Trust Tax

Placing Assets on Hold and Releasing Asset Holds

ONESOURCE Trust Tax recommends placing OID, UIT, REMIC and MBS assets on hold to prevent the accounts holding those assets from being processed. As factors are received from WSC, you can release the asset holds, and complete account processing.
If this is the first year you are using the Plus Package, create a custom register for each asset type that has assets you want to place on hold. After you create the custom register, you can use it to place assets on hold and to release asset holds.

Creating a Custom Register for Placing Assets on Hold and Releasing Asset Holds

To create a custom register for placing assets on hold and releasing asset holds.
  1. From the Register Listing page, move to the following asset base registers in the
    Wall Street Concepts Plus
     base category:
    • REMIC Assets
    • OID Assets
    • UIT Assets
    • MBS Assets
  3. Select Modify Register Properties for the asset base register you want to create a custom register for. For example, if you want to create a custom register for placing UIT assets on hold, select Modify Register Properties for the
    UIT Assets
     register.
  4. The Register Properties page displays.
  5. Open the
    Information
     collapsible section.
  6. Change the name in the
    Register Name
     field to the name for your custom register. You can change the information in any of the other fields listed under the
    Information
     collapsible section.
  7. Select the register scope from the
    Scope
     drop-down list.
  8. Select
    Save As
    .
  9. In the first grid under the
    Detail Columns
     collapsible section, add the
    Beginning year to stop processing for asset
     column. This column is in the
    Asset Master Information
     category. To add the column, select the check box to the left of the
    Category
     column then select
    Add
     above the grid.
  10. The column is moved to the last row in the second grid under the
    Detail Columns
     collapsible section.
  11. Select
    Save
    .
  12. Select
    REGISTERS
     to return to the Register Listing page.

Placing an Asset on Hold

You can place assets on hold individually or you can perform a column update to place multiple assets listed in the register on hold. To complete a column update, you must have the
Can apply column updates to registers (globals)
 user right granted to you.
To place assets on hold individually:
  1. From the Register Listing page, select Run for the custom asset register you created for placing assets on hold and releasing asset holds.
  2. For each asset you want to place on hold, select the year you want to apply the asset hold to from the
    Hold Asset for
     column.
  3. Select
    Save
    .
To complete a column update to place multiple or all assets listed in the register on hold:
  1. From the Register Listing page, select Run for the custom asset register you created for placing assets on hold and releasing asset holds.
  2. If you want to place more than one (but not all) assets on hold, select the check box to the left of the
    Asset ID
     column for each asset you want to place a hold on. Remember, you can apply a filter to any of the register columns if you want to further limit the number of assets displayed in the register.
  3. Do not select any check boxes if you want to place all of the assets listed in the register on hold.
  4. Under the
    Column Update
     collapsible section, select
    Hold Asset for
     from the
    Column
     drop-down list.
  5. Select the year you want to apply the asset hold to from the
    New Value
     drop-down list.
  6. Select
    Update
    . A message displays to inform you that the change you are about to make cannot be undone.
  7. Select OK to apply the column update.

Releasing an Asset Hold

Be sure to release the assets holds as factoring transactions are received from WSC. Asset holds can be released individually or via a column update. Performing a column update releases the hold on multiple assets listed in the register. To complete a column update, the
Can apply column updates to registers (globals)
 user right must be granted to you.
note
Asset holds must be released before the accounts holding those assets can be processed.
To individually release an asset hold:
  1. From the Register Listing page, select Run for the custom asset register you created for placing assets on hold and releasing asset holds.
  2. For each asset you want to release, select the empty selection from the
    Hold Asset for
     column.
  3. Select
    Save
    .
  4. To complete a column update to release asset holds for multiple or all assets listed in the register:
  5. From the Register Listing page, select Run for the custom asset register you created for placing assets on hold and releasing asset holds.
  6. If you want to release asset holds for more than one (but not all) assets listed in the register, select the check box to the left of the
    Asset ID
     column for each asset you want to release. Remember, you can apply a filter to any of the register columns if you want to limit the number of assets displayed in the register.
  7. Do not select any check boxes if you want to release asset holds for all of the assets listed in the register.
  8. Under the
    Column Update
     collapsible section, select
    Hold Asset for
     from the
    Column
     drop-down list.
  9. Select the empty selection from the
    New Value
     drop-down list.
  10. Select
    Update
    . A message displays to inform you that the change you are about to make cannot be undone.
  11. Select OK to apply the column update.