Processes
Dealer Retention Processing
Purpose Vault provides the ability to automatically retain nominated percentages of Fixed Loan components so these may be dealt with at a later date. Retentions may be held to be paid out at the end of a loan or applied to a loan if it has to be ...
Payout Brokerage to Brokers
Purpose Following the completion of the Calculate and Post Unit Fund Brokerage process, the direct credit batch to pay the Brokers needs to be created, and the Communications dispatched to the Brokers. Process There are four steps to the Payout ...
Marking Transactions Paid & Unpaid
Purpose When the Dealer payout or Insurer payout process is run, the included transactions are automatically marked as paid. The function allows manual manipulation of the paid status of a transaction. A transaction may be marked as paid if it has ...
Payout Dealer Balances
Purpose To automatically pay to Dealers amounts that are due to them by direct credit or cheque. Dealer accounts can be selectively excluded from this process Timing This process is usually run towards the end of the day, once all loans for the day ...
Reconciling Dealer Accounts
Purpose Dealer Accounts record transactional activity generated from other Vault modules. These transactions result in balances that are normally paid out to dealer/broker creditors, or in some rare cases is recovered from them. At the end of the ...
Manage Dealer or Insurer Account Transactions
Purpose Full or Partial amounts may be held from payment to a Dealer or Insurer using the function Timing Amounts must be held prior to the Dealer Payout Process or Insurer Payout Process being run Access Dealer or Insurer Accounts Only From within ...
Calculate and Post Dealer Brokerage
Purpose Monthly, after all Deposits have been matured and new Deposits loaded, Brokerage can be calculated by the system, and Remittance Advices printed detailing what has been paid to the Broker Access Deposit | Calculate/Post Dealer Brokerage ...