Next Maturity Action

Next Maturity Action

Purpose

Allow the setup of the required details on a new deposit account created during the Post Maturity Instructions process when the Maturity Action has been set to reinvest

Access

  1. Deposit | Access Deposit Account |  | 

Prerequisite

If the Maturity Instructions are the same as the original investment, this screen need not be completed

Process

The account will be automatically reinvested based on the rules below

The following screen will display:

 
 to pre-fill the dialog with the previous deposit terms

Field
Explanation
Term

Enter here a number for the term of the deposit

This will be interpreted based on the Maturity Frequency field below

So if you enter 2, and the Maturity Frequency is Years, then the maturity date will be in 2 years

If it is entered as 18 and the Maturity Frequency is Months, then the maturity date will be in 18 months
Maturity Frequency

Options to choose from are:


New Date
This field is disabled until the Override field below is checked on.  Once enabled enter a specific Maturity Date
Override
Check on to open the New Date field above to add a user specific Deposit Maturity date
Account Type
[F2] and  a new account type if this is to change. For example the investor wishes to change from a secured to an unsecured deposit   
Interest Profile

Only required if Dealer Broker categories are in use.

[F2] and  the interest profile that will apply to the new investment if the ‘Ignore Broker Cat Rate On Investment’ checkbox on the Deposit Details dialog is checked or the dealer of the maturing account does not have a Broker Category with a reinvestment profile for the term of the new account
Next Broker Commission Matrix
[F2] and  a new commission matrix if the Dealer of the maturing account does not have a Commission Matrix that covers the term of the new account
Next Account Source

[F2] and  a new account source if this is to change  

Next Interest Rate

This will default to the Override Rate currently being used by this account

It can be changed to a new rate

The rate can be up to 4 decimal places
Special Maturity Instructions

Enter here any special instructions about the maturity for this account

These will print on the Maturing Deposits Report if the flag “Show Special Maturity Instructions” is checked on the report options dialog
Next Description

Only displays if the Deposit Account Type setup has this flag checked on

Will automatically populate with the Maturity Term and Frequency

This may be over-written
Align Interest/Maturity Dates

If this option is checked, the system will force the next interest date to be the same as the maturity date

This may be a requirement for short term reinvestments

The maturity date may differ to the next interest date because the maturity date is worked out taking into account non business days while the next interest date does not

If the dates are not set up to be aligned, interest may be posted a couple of days prior to maturity, and then again for the differential days to maturity
Align Next Interest Day

If this option is checked on, then the following updates will be performed on Maturity:

  1. The Day component (DD/MM/YYYY) of the next interest date will be changed to be the day component of the new maturity date.
The interest day will be updated to be the DD component of the new maturity date.​


 the Next Maturity



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