Take advantage of the slower summer months to give your PortfolioCenter database a tune-up.
Keeping the details streamlined not only makes your daily tasks more efficient, it reduces the likelihood of hitting speed bumps during the quarter-end rush. Here’s a checklist of ideas:
1. Remove processed interface files, especially old cost basis reconciliation files.
2. After removing unnecessary interface files, reindex your database.
3. Reconcile cost basis and fix any stray discrepancies.
4. Use the Securities Data Manager to check for missing asset classes.
5. Use the Data Manager to review your account details such as missing SSNs, brokers, incorrect tax status, and wrong master account on groups.
6. Make sure all new accounts are in the proper groups and all closed accounts are empty and flagged closed.
7. Check and improve the sort order of accounts within your groups, moving closed accounts to the bottom of the list. This improves the readability of your reports.
8. Review and update your Smart sets to make sure you have the ones you need and remove the ones you no longer need.
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