Deposit Account Details

Purpose

Deposit Accounts are investment accounts where a fixed rate of interest applies to the term of the investment. The Deposit is usually held for a fixed term of time, and matured after that period. Deposits may be reinvested or paid out at maturity.

Timing

Deposit may be viewed or set up at any time

Access

1. [F2] in the Account lookup filed 
   
2. Deposit | Access Deposit Accounts 
   
3.  from the main dialog 
   

Dialog Details

Details Specific Fields

Field	Explanation
Interest Profile	[F2] to display and  the appropriate Interest Profile for this investment This field can be ignored if the  functionality is to be used
	This function can be used if the Dealer associated with the account has an associated Broker Category This will automatically apply the ‘New Funds Interest Rate’ set up on the Broker Category Notes:   This button should only be used once the rest of the Deposit details have been set up.  As the   needs to know the term details of the Deposit in order to identify the correct broker category interest profile to use If there isn't enough information to use to do a lookup, then a warning is displayed. Otherwise, a search is completed for the New Funds profile by finding a broker category term range for
Override Rate	This will show the rate that is required for this investment Note:  When an account is initially set up the override rate does not need to be entered It should be left as 0.00 Once the account setup is complete, and the  action has been taken, the override rate will be updated with the latest rate from the Interest Profile associated with this account In the future, if the underlying Interest Profile rate changes, the existing override rate will still apply, returning the original rate quoted for that investment The override rate on allows up to 4 decimal places, i.e 99.9999%
Dealer Account	[F2] to display and  the Dealer Account
Commission Matrix	[F2] to display and  the Commission Matrix The Commission Matrix entered in this field will override all other matrices entered in the brokerage process
Certificate	Set to Yes if a certificate is to be generated by the system through the menu option Create and Print Certificates Otherwise set to No Once the Certificate has been generated, this indicator will change to Printed If the certificate needs to be reprinted, access , highlight the certificate communication and
Allow Cost of Funds Override	Only available if this option is checked on in the Deposit Control
Maturity Frequency	Options to choose from are :
Early Matured	When the   button is clicked, the deposit is matured according to the details entered on the Early Maturity Details dialog When this process is undertaken, on completion, the process will 'check on' the Early Matured Checkbox
Maturity Date	This will be automatically updated based on the Term and Maturity Frequency entered in the 2 fields above  It can be over ridden at this point, or changed at a later date if set up incorrectly
Maturity Instructions Method	There are 3 options that can be selected:
Maturity Action	Enter the maturity action advised on the Deposit application from Options available are: These will link back to the Deposit Account Type setup to generate the correctly related Communications on maturity Once a maturity instruction method has been nominated, the Maturing Deposits Report column Ins Rec’d (Instructions Received) will have a tick to indicate this
Ignore Broker Cat Rate on Reinvestment	This is used, for a maturity action of reinvest, to determine the interest profile to be used on the new account If checked, the interest profile from the broker category will be used If unchecked, the interest profile specified on the Next Maturity dialog will be used If no interest profile has been specified then the interest profile on the maturing account will be used
No Commission on Reinvestment	If checked no commission will be calculated on the new account If unchecked then the commission will be calculated as follows: From the Commission Matrix on the Dealer associated with the maturing account If that does not exist then from the commission matrix on Next Maturity dialog If that does not exist then from the commission matrix on the maturing account

Details Specific Function Buttons 

Field	Explanation
	See Next Maturity Action
	See Deposit Early Maturity
	Enter the initial amount the client invested

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