Baird has 4 formats
Format 1
Baird statements will not reconcile on their own, and will always end up in the Trust Accounting To-do stack. Once each metadata field has been reviewed and confirmed, we will click the “Auto-calculate gain/(loss)” button below these fields to reconcile the document.
This is the format where the graph in the top-left corner is labeled as “Asset Value.”
ATTENTION: Moving forward, for this provider, you will:
Extract all the fields visible in the screenshots.
Calculate any other relevant details from the statement, particularly in the transaction section, to capture all the reporting activities during that period.
CAREFUL: Select the “Auto-Calculate Gain/Loss” option, but only after performing the steps mentioned above.
Leave a note stating “Please review and verify the statements below. The activity has been manually calculated by referencing the transaction details, and the gain/loss has been determined based on that information.”
Mark the account as “Reviewed” in the Investments Dashboard (if you are working in there).
**You may approve the statement, even with an “Other Transaction” value as long as you are leaving the appropriate note and marking the account as “Reviewed”.
Extractions:
Beginning Balance
Ending Balance
TX: Sales
TX: Purchases
TX: Deposits
TX: Withdrawals
TX: Fees
Other
Dividends
Interest
Capital Gains
Return of Principal
Other: Income
Equations
TX: Other
={other} + {other: income} + {return of principal}
TX: Income
={dividends} + {interest} + {capital gains}The normal Transaction Detail guidelines will be followed and used for these statements
Table Name: Transaction Detail
Column Names: Date, Description, & Amount
Format 2
This is the format where the graph in the top-left corner is labeled as “Account Summary.”
Extractions:
Beginning Balance
TX: Deposits
TX: Withdrawals
TX: Income
Other & Fees
Gain/Loss
Ending Balance
TX: Sales
TX: Purchases
TX: Fees
Equations
TX: Other
={other & fees} - {tx: fees}
The normal Transaction Detail guidelines will be followed and used for these statements
Table Name: Transaction Detail
Column Names: Date, Description, & Amount
Format 3
Extractions:
Beginning Balance
Interest
Dividends
TX: Fees
Realized Gains
TX: Accrued
Unrealized Gains
Ending with Accrued
TX: Deposits
TX: Withdrawals
Equations:
TX: Income
= {dividends} + {interest}
Gain/Loss
= {realized gains} + {unrealized gains}
Ending Balance
= {ending with accrued} - {tx: accrued}"}
The normal Transaction Detail guidelines will be followed and used for these statements
Table Name: Transaction Detail
Column Names: Date, Description, & Amount
Format 4
The field “tx: sales” is tagged as “realized gains” in this format, as the sale results are this formats realized gains of the period
Extractions:
Beginning Balance
TX: Income
Employer Contributions
Employee Contributions
Other In
TX: Withdrawals
TX: Fees
Other Out
Realized Gains
TX: Accrued
Unrealized Gains
Ending with Accrued
Equations:
TX: Deposits
= {employer contributions} + {employee contributions}
TX: Other
= {other in} + {other out}
Gain/Loss
= {realized gains} + {unrealized gains}
Ending Balance
= {ending with accrued} - {tx: accrued}
The normal Transaction Detail guidelines will be followed and used for these statements
Table Name: Transaction Detail
Column Names: Date, Description, & Amount