Post Deposit Maturity Instructions

Purpose

To follow the rules set on a Deposit Account that is due to Mature on the date this process is run for

Maturity will post as well as interest

Deposits and interest to Maturity date may be reinvested, paid out or transferred to another account

Interest and Maturities may have different actions

Access

1. Deposit | Post Maturity Instructions
   

Process

Field	Explanation
Account Type	[F2] to  the Account Type for which maturities are to be posted Leave blank for all account types
Maturity Date	Enter the date up to which maturities are to be posted
Bank	[F2] to  the Bank Account from which the Direct Credits, if required, are to be debited
Direct Credit Particulars Ref	Enter the reference to appear on the client's Bank Account if a Direct Credit is created

Running this option has two actions: 

The first is to post the interest accrued up to maturity date onto the account

The second is to perform the maturity action on the account

If the maturity and/or interest actions were set to either cheque or direct credit, the account will have a balance waiting to be paid out

If payment is to be made by cheque, then when the payment amount is entered in the cashbook, it should be posted to the matured account

That will bring the account balance to zero

If payment is by Direct Credit, then this batch will be automatically created by the maturity process

When that is posted from the cashbook, the account balance will become zero

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