Difference between revisions of "Investment System Settings"
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| '''Variable Rate Note Basis''' || Example | | '''Variable Rate Note Basis''' || Example | ||
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| − | | '''IRA Fee Method''' || | + | | '''IRA Fee Method''' || Indicates whether or not the system should assess a fee for IRA deposits |
|- | |- | ||
| − | | '''Interest Payment Method''' || | + | | '''Interest Payment Method''' || Indicates whether interest should be paid relative to the purchase date of the investment. Click the drop down arrow to select from a list of active [[Investment Interest Payment Codes|interest payment methods]] in the system '''Note: The interest-payment period is set up for each individual [[Investment Type and Rate Maintenance|investment type]]''' |
|- | |- | ||
| '''Redemption Method''' || Example | | '''Redemption Method''' || Example | ||
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| '''Note Rate Format''' || Example | | '''Note Rate Format''' || Example | ||
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| − | | '''Approve Notes''' || A check in this box indicates that an authorized user must review and approve new investment notes before the system will allow a change of business date | + | | '''Approve Notes''' || A check in this box indicates that an authorized user must review and [[Investment Note Approval|approve new investment notes]] before the system will allow a change of business date |
|- | |- | ||
| '''Print Countersignature''' || Example | | '''Print Countersignature''' || Example | ||
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| '''Allow Weekend Usage''' || Indicates if the business date can be changed to a weekend date, as well as whether maturity dates can fall on weekends | | '''Allow Weekend Usage''' || Indicates if the business date can be changed to a weekend date, as well as whether maturity dates can fall on weekends | ||
|- | |- | ||
| − | | '''Detailed Investment Status''' || | + | | '''Detailed Investment Status''' || Selecting this option displays additional detail about the status of an investment. Converts a simple numeric code to additional descriptive information such as how an investment has acquired its present status (transferred, redeemed, re-registered, canceled, etc.) |
|- | |- | ||
| '''Uses Renewal Logic''' || Example | | '''Uses Renewal Logic''' || Example | ||
|- | |- | ||
| − | | '''IRA Details''' || | + | | '''IRA Details''' || Indicates whether the system needs to track additional IRS details for reporting purposes. The Internal Revenue Service requires additional information on the nature of a contribution (i.e., regular contribution, Roth IRA contribution, Roth IRA conversion, miscellaneous contribution) or distribution (i.e., early disbursement, disability disbursement, death disbursement, normal disbursement, Roth IRA in first five years). This additional layer of information is only required of IRA accounts |
|- | |- | ||
| '''Accrue After Maturity''' || Indicates whether to allow interest to accrue after the investment has reached its current maturity date. Checking this box activates this feature when month-end investment interest accrual runs | | '''Accrue After Maturity''' || Indicates whether to allow interest to accrue after the investment has reached its current maturity date. Checking this box activates this feature when month-end investment interest accrual runs | ||
Revision as of 14:35, 26 March 2012
Overview of IL01IN
The Investment System Settings screen establishes certain default settings that are used throughout the Investment application. There are multiple tabs on this screen.
Base Settings Tab
On the base settings tab, you have the following options:
| Field | Description |
|---|---|
| Notice Method | Example |
| Variable Rate Note Basis | Example |
| IRA Fee Method | Indicates whether or not the system should assess a fee for IRA deposits |
| Interest Payment Method | Indicates whether interest should be paid relative to the purchase date of the investment. Click the drop down arrow to select from a list of active interest payment methods in the system Note: The interest-payment period is set up for each individual investment type |
| Redemption Method | Example |
| Issuance Method | Example |
| Note Amount Format | Example |
| Note Rate Format | Example |
| Approve Notes | A check in this box indicates that an authorized user must review and approve new investment notes before the system will allow a change of business date |
| Print Countersignature | Example |
| Approve Checks | A check in this box indicates that an authorized user must review and approve new checks before the system will allow a change of business date |
| Pay in Purchase Month | Example |
| Approve Demand Deposits | A check in this box indicates that an authorized user must review and approve any additions to demand notes before the system will allow a change of business date |
| Allow Weekend Usage | Indicates if the business date can be changed to a weekend date, as well as whether maturity dates can fall on weekends |
| Detailed Investment Status | Selecting this option displays additional detail about the status of an investment. Converts a simple numeric code to additional descriptive information such as how an investment has acquired its present status (transferred, redeemed, re-registered, canceled, etc.) |
| Uses Renewal Logic | Example |
| IRA Details | Indicates whether the system needs to track additional IRS details for reporting purposes. The Internal Revenue Service requires additional information on the nature of a contribution (i.e., regular contribution, Roth IRA contribution, Roth IRA conversion, miscellaneous contribution) or distribution (i.e., early disbursement, disability disbursement, death disbursement, normal disbursement, Roth IRA in first five years). This additional layer of information is only required of IRA accounts |
| Accrue After Maturity | Indicates whether to allow interest to accrue after the investment has reached its current maturity date. Checking this box activates this feature when month-end investment interest accrual runs |
