Deposit Control Details

Deposit Control Details

Purpose

Provide control details for the month end roll, key setup parameters and allow file paths to be selected for custom reports

Access

  1. Deposit | Edit/View Deposit Control Details

Dialog Details

Details Specific Fields

Field
Explanation
Force all reinvestments to standardised interest posting frequency
If this flag is set on then all accounts that are reinvested will have the interest frequency on the new account forced to the standard interest posting frequency selected in the field below

If this flag is not set, then the new account will have the same interest frequency as the account it matured from
Standard Interest Posting Frequency
Select the frequency required if all reinvestments are to be forced to a standardised interest posting frequency


Force reinvestments using standard interest date to end of period
If this flag is set on then all accounts that are reinvested will have their next interest posting date set to be at the quarterly/six-monthly period based on the fields above and below

If this flag is not set, then the next interest posting date will be to the nominated period based on the open date of the account which probably will not be the quarterly/six monthly end date

Standard Interest period final month (in Year)
Enter in here the last calendar month of the year that you will be posting interest in

E.g. A Quarterly interest frequency, with interest posting in the months of March, June, September and December will require an entry of 12-Dec

A Six-Monthly interest frequency, with interest posting in the months of March and September will require and entry of 9-Sept
Do NOT post interest at maturity (reinvesting does not post)
If this flag is ticked on then interest will post only if the account is being reinvested

If interest is to be paid out, then the interest will remain as an accrued amount until the next interest posting date on the account

At that point it will be paid
Allow Cost of Funds Override 
If this is checked on then a tick box will be displayed on the deposit account which allow individual deposits to have and override on the Cost of Funds check


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