Difference between revisions of "Investment Category Maintenance"

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| '''Term Category''' || This is an alphanumeric field, establishing the code assigned to this investment (term) category. Your organization can determine its own coding rules.
 
| '''Term Category''' || This is an alphanumeric field, establishing the code assigned to this investment (term) category. Your organization can determine its own coding rules.
 
|-
 
|-
−
| '''Description''' || Example
+
| '''Description''' || A brief description of the new category
 
|-
 
|-
−
| '''High %''' || Example
+
| '''High %''' || This is the maximum interest rate allowed for investment types in this category
 
|-
 
|-
−
| '''Low %''' || Example
+
| '''Low %''' || This is the minimum interest rate allowed for investment types in this category. This field defaults to 0%
 
|-
 
|-
−
| '''Current %''' || Example
+
| '''Current %''' || The current interest rate for investment types in this category
 
|-
 
|-
−
| '''Extension type''' || Example
+
| '''Extension type''' || Sets the default extension type for investments in this category. Type the code or click the list icon to select from a list of active [[Investment Type and Rate Maintenance|investment types]] in the system
 
|-
 
|-
−
| '''Demand note''' || Example
+
| '''Demand note''' || If selected, investment types in this category are shown as demand notes
 
|-
 
|-
−
| '''Allow additional deposits''' || Example
+
| '''Allow additional deposits''' || Indicates whether additional deposits are allowed once investments within this category are purchased.  Demand notes always allow additional deposits.  This option provides users the ability to allow additional deposits to term notes if necessary
 
|-
 
|-
−
| '''Form code''' || Example
+
| '''Form code''' || Default form code to use when printing investment notes of the current category. Type the form code or click the list icon to select from a list of [[Merge Form Maintenance|active form codes]] in the system
 
|-
 
|-
−
| '''Default term''' || Example
+
| '''Default term''' || The default number of months until maturity for investment types in this category
 
|-
 
|-
−
| '''Min wdraw''' || Example
+
| '''Min wdraw''' || Minimum withdrawal amount for investments in this category
 
|-
 
|-
−
| '''Max wdraw %''' || Example
+
| '''Max wdraw %''' || The maximum percentage of investment balance that can be withdrawn for investments in this category
 
|-
 
|-
−
| '''Min deposit''' || Example
+
| '''Min deposit''' || Minimum deposit amount for investments in this category
 
|-
 
|-
−
| '''Min balance''' || Example
+
| '''Min balance''' || Minimum overall balance for investments in this category
 
|-
 
|-
−
| '''Penalty %''' || Example
+
| '''Penalty %''' || The percentage to be applied as a penalty when early withdrawals are made, if applicable
 
|-
 
|-
−
| '''Penalty days''' || Example
+
| '''Penalty days''' || If the penalty is to be waived if within a certain number of days to maturity, enter that number of days here
 
|-
 
|-
−
| '''Step-Up count''' || Example
+
| '''Step-Up count''' || If this investment category allows investors to "step up" their interest rate based on deposits, you can enter the number of times the interest is allowed to "step up" here. Once the limit is reached, investment interest cannot be increased unless the current interest rate changes
 
|}
 
|}
  
 +
Click the General Ledger tab.
  
 +
 +
=='''General Ledger Tab'''==
  
  

Revision as of 12:41, 26 March 2012

Overview of IL260

Investment categories, also called term categories, are classifications distinguished by various details that apply to the investments they contain. Investments in a category have the same or similar term lengths and their interest rates fall within a defined range. They affect the same accounts in the general ledger and adhere to the same parameters for deposits, withdrawals, and balance amounts. Multiple investment types can be set up under a single investment category. To add a new investment category:


  • From the DDI Connect main menu, double-click Financial Services
  • Double-click Investments
  • Double-click Setup
  • Double-click Investment Category Maintenance. You will see a screen similar to this one:


Investment Category Maintenance 1.png


To add a new investment category, click the Add button on the toolbar. You will see this screen:


Investment Category Maintenance 2.png


There are two tabs to configure when adding a new investment category.


Settings Tab

The following fields are found on the Settings tab:


Field Description
Term Category This is an alphanumeric field, establishing the code assigned to this investment (term) category. Your organization can determine its own coding rules.
Description A brief description of the new category
High % This is the maximum interest rate allowed for investment types in this category
Low % This is the minimum interest rate allowed for investment types in this category. This field defaults to 0%
Current % The current interest rate for investment types in this category
Extension type Sets the default extension type for investments in this category. Type the code or click the list icon to select from a list of active investment types in the system
Demand note If selected, investment types in this category are shown as demand notes
Allow additional deposits Indicates whether additional deposits are allowed once investments within this category are purchased. Demand notes always allow additional deposits. This option provides users the ability to allow additional deposits to term notes if necessary
Form code Default form code to use when printing investment notes of the current category. Type the form code or click the list icon to select from a list of active form codes in the system
Default term The default number of months until maturity for investment types in this category
Min wdraw Minimum withdrawal amount for investments in this category
Max wdraw % The maximum percentage of investment balance that can be withdrawn for investments in this category
Min deposit Minimum deposit amount for investments in this category
Min balance Minimum overall balance for investments in this category
Penalty % The percentage to be applied as a penalty when early withdrawals are made, if applicable
Penalty days If the penalty is to be waived if within a certain number of days to maturity, enter that number of days here
Step-Up count If this investment category allows investors to "step up" their interest rate based on deposits, you can enter the number of times the interest is allowed to "step up" here. Once the limit is reached, investment interest cannot be increased unless the current interest rate changes

Click the General Ledger tab.


General Ledger Tab

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