Direct Debit Details

Purpose

Direct Debits are established as an efficient method of automatically allowing clients to repay loan amounts due.

Direct Debit Details are held at the account level so that a different client bank account can be used to Direct Debit different loan accounts.

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From Fixed Loan, Lease or Variable Loans
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Field	Explanation
Next Date	The date of the first or next Direct Debit
Next Amount	The amount of the next Direct Debit if this differs from the standard amount
Use Instalment Schedule	Lease and Fixed Loan Only Checked on if the Direct Debit (Payment Date) is the same as the Instalment Date If this option is checked, the fields from Standard Date to Standard Amount will be disabled, as these details will come from the Instalment Schedule
Standard Date	The date of the first or next Direct Debit
Frequency	Frequency of the Direct Debits, usually be the instalment frequency
Day	When the Instalment Frequency is monthly or quarterly, the Day of the Direct Debit should be entered
Standard Amount	Enter the Standard Amount of the Direct Debit
Bank Account	The Bank Account details may be entered in the below formats: no separators e.g.030835999999902 spaces e.g. 03 0835 9999999 02 dash separators e.g. 03-0835-9999999-02 If no Bank Account is specified, the Direct Debit process will use the bank account held on the clients bank record If no Bank Account is specified in this dialog or on the client, a warning message will be displayed when this dialog is saved
Suspend Direct Debit	Check on if the Direct Debit is to be suspended This option would usually be left blank for new Direct Debits
Direct Debit if Zero Balance	Check on if the Direct Debit is to continue when the account has a 0.00 Future and Current Balance This option would usually be left blank for new Direct Debits

[Button]	Explanation
	Accesses the Scheduled Direct Debit Browse so a payment arrangement may be put in place for a client in arrears

Related Articles
Scheduled Direct Debit Details
Purpose To create or maintain a Direct Debit payment plan for a client in arrears, where the client will be repaying the arrears over multiple dates Note: The Direct Debit schedule overrides any other Direct Debits loaded, so instalments that will be ...
Direct Debit Report
Purpose To check/review the days scheduled Direct Debits. Provides an opportunity to check that the expected accounts are included, and the amounts are correct, prior to creating the Direct Debit batch and file. Timing Should be run towards the end ...
Managing Direct Debits
Direct Debit Processing Rules Direct Debits will be selected for processing based on the following criteria: An account will be debited if: the next date is within period specified, or if the next date has not been entered, the standard date is ...
Post Direct Debit Details
Purpose Creates the Direct Debit batches in the Cashbook which are then imported directly into your Banking software, so that these entries do not need to be entered manually. Timing Posting of Direct Debits needs to be done daily, following the ...
Advance Direct Debit Processing
Purpose It is possible to create and process direct debit batches prior to holiday periods, so that staff are not required in the office to process the direct debits during this time Process To complete this, the following steps should be undertaken ...