Format 1
At times, Stax.ai may pull the Beginning Balance, Ending Balance, and Gain/Loss values from the first page rather than the second. This happens because both tables have similar headers, including "Change in Account Value," and other rows within each table are also quite alike. Therefore, when reviewing documents in TA/todo and you notice these fields are being tagged from the first page, you don't need to re-tag these values if they match what is listed on the second page’s table.
However, if the values differ, it's crucial that you go through and tag the correct ones accordingly.
Example 1
Example 2
Extractions:
Beginning Balance
TX: Deposits
Fees
Other: Taxes
Net Adjustments
Change in Value
Other In
Other Out
Transfer In
Transfer Out
Transfer: Other
TX: Withdrawals
Account Fees
Ending Balance
TX: Accrued
TX: Income
Starting October 2023, Fidelity changed its format. Therefore, we used to pull “tx: income” from the “Correct Account and Credit Balance Cash Flow” although, this table is no longer present in newer Fidelity statements (so we will now pull “tx: income” from the “Income Summary” section and there is no accurate place to tag sales and purchases).
In the investments dashboard working on TA, you will notice “reinvestment” transactions will appear under the dividends & income transactions. But, we will not classify these as Income in the bottom section (as they are not included in the income value).
Transaction Cost:
When we are seeing values in the “Transaction Cost” in the “Securities Bought & Sold” section, we will need to account for these as Fees. Essentially, if there is a flag next to a fees value on the account summary, and all the fee transactions seem to be accounted for, then you will want to look at this area and add an bulk entry as seen in the screenshots below (of course, keep in mind these will be for clients who require all tx details)
At times, if you're working on a client that requires all tx details and the income on the account summary still appears flagged after classifying all income transactions, you can mark the account for review and add a note like: “Please review the ___ statement’s income value, as the income transactions are not aligning with the extracted value.”
For more info: The discrepancy is typically due to the accrued interest in the “Securities Bought & Sold” section. This involves a lot of manual work, and it is something that the client can review.
Equations:
Gain/Loss
={change in value} - {tx: income}
TX: Transfers
={transfer in} + {transfer out} + {transfer: other}
TX: Other
={other in} + {other out} + {other: taxes} + {net adjustments}
TX: Fees
={fees} + {account fees}
The normal Transaction Detail guidelines will be followed and used for these statements
Table Name: Transaction Detail
Column Names: Date, Description, & Amount
We will not include Core Fund Activity in the Transaction Detail.
Format 2
Extractions:
Beginning Balance
TX: Deposits
TX: Withdrawals
Change in Value
Ending Balance
TX: Income
Equations:
Gain/Loss
= {change in value} - {tx: income}
The normal Transaction Detail guidelines will be followed and used for these statements
Table Name: Transaction Detail
Column Names: Date, Description, & Amount