Basis information is tracked for both accounting and tax. For accounting purposes, the system uses average cost while using FIFO and specific lot identification for income taxes. Trusts allow the original tax basis and date acquired to be input for tax purposes. When the settlement and trade dates differ, the system allows entry of both. It allows for non-taxable exchanges which roll over the individual tax lots with their tax basis and acquisition dates intact.
Accountings are available for estates, trusts and in some jurisdictions, guardianships.
The National Standard format is acceptable in most of the rest of the country. All formats allow for customization to suit your personal preferences for presentation. This means that transactions can be entered or modified in any one of several modules and reflected throughout the various documents accurately and efficiently.