BDOS contains a fully integrated general ledger which automatically generates the vast majority of general journal entries. As such, a competent clerical person can operate BDOS with little difficulty. All financial and operational information is available to all levels of broker dealer management provided they have the necessary security permissions.
General ledger entries are created when the broker dealer downloads from clearing, NSCC, DST IDC or other external sources. Also, general ledger entries are automatically created when a trade is manually entered, when vendor payment is received, when brokers are paid and when checks are written to brokers or outside suppliers.
In addition, BDOS general ledger provides an audit trail which can be monitored to insure broker dealer activities are carried out in compliance with internal policies.
The above general journal entries were automatically generated by a trade that was downloaded from clearing. This trade has an internally assigned uniqe reference number 106: broker commission is $61.60, broker dealer commission is $120.00, and clearing fee $30.00. The BDOS general journal entries show:
| AP *464 | $61.60 | Account Payable | Commissions Payable |
| EXP *605 | $61.60 | Expense | Commission Expense |
| AR *350 | $120.00 | Account Receivable | Stock-Bond-Option |
| REV *536 | $120.00 | Revenue | Stock-Listed |
| AP *424 | $30.00 | Account Payable | Clearing Secured |
| COS *704 | $30.00 | Cost of Sales | Clearing Fees |
It looks like a lot of work and it is! But, BDOS can process hundreds of broker dealer trades in a few minutes. After all, you are looking for an efficient system that enhances your back office operations and reduces costs. That is why BDOS was developed.
The general ledger is derived from the general journal entries. The above image shows general ledger entries for the receivable account AR *350 Stock-Bond-Option
The BDOS general ledger can be extented to provide more information related to each entry. The above image shows the extension of trade reference 106. For this trade:
The general ledger balances are used to generate the Trial Balance, Income Statement and Balance Sheet. All statements can be created at any time during the month and there are no limitations to the number of years they can be saved.