Difference between revisions of "Portfolio Redemption/Sale Reversal"
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| '''Reverse date''' || The date of the reversal transaction. Enter the date in mm/dd/yyyy format | | '''Reverse date''' || The date of the reversal transaction. Enter the date in mm/dd/yyyy format | ||
|- | |- | ||
− | | '''Reverse units''' || | + | | '''Reverse units''' || Number of investment units (CDs, shares of stock, etc.) being reversed |
|- | |- | ||
− | | '''Reverse face amount''' || | + | | '''Reverse face amount''' || Portion of the investment face amount to be reversed. The face amount on the portfolio record will increase |
|- | |- | ||
− | | '''Reverse interest sold''' || | + | | '''Reverse interest sold''' || Portion of the earned interest on the investment to be reversed. The interest receivable balance on the portfolio record will increase |
|- | |- | ||
− | | '''+Premium/-Discount''' || | + | | '''+Premium/-Discount''' || Premium (positive value) or discount (negative value) amount on the investment purchase to be reversed with the reversal transaction |
|- | |- | ||
− | | '''Reverse monthly amort''' || | + | | '''Reverse monthly amort''' || Monthly amortization amount to reverse |
|- | |- | ||
− | | '''Reverse +Gain/-Loss''' || | + | | '''Reverse +Gain/-Loss''' || Amount of gain/loss incurred on the original sale transaction. Look up the gain/loss amount on the original redemption transaction and plug in the appropriate amount |
|- | |- | ||
− | | '''Check amount''' || | + | | '''Check amount''' || Dollar amount of the check (or wire) to be generated for the redemption/sale reversal. Sum of the above dollar-amount fields other than Reverse monthly amort. Display only |
|- | |- | ||
− | | '''Type''' || | + | | '''Type''' || Method of payment for the reversal amount: check or wire. Click the drop down arrow to select the disbursement type |
|} | |} | ||
+ | When you have finished entering the amounts, click Save. You will see this message: | ||
+ | [[File:Transaction Successful.png]] | ||
− | + | Click OK. You will be returned to the Portfolio Redemption/Sale Reversal screen. | |
− | |||
[[Category:Portfolios]] | [[Category:Portfolios]] |
Latest revision as of 13:32, 5 September 2012
Overview of IL712
If a portfolio redemption or sale has been recorded in error, Portfolio Redemption/Sale Reversal enables your organization to easily counteract this. It issues a check or a wire to the master-account holder on the portfolio record. This application also enables you to customize the amounts reversed from various portfolio balances such as the face amount, interest, and premium or discount.
- From the DDI Connect main menu, double-click Financial Services
- Double-click Portfolio
- Double-click Transactions
- Double-click Portfolio Redemption/Sale Reversal. You will see this screen:
In the Portfolio field, type the portfolio number that received the incorrect interest. Press enter or click Find on the toolbar. You can also click the list icon to select from a list of portfolios in the system or click the search icon to locate the portfolio using Name/Address Inquiry. Once you have located the portfolio, the screen will look like this:
The following fields are available on this screen:
Field | Description |
---|---|
Reverse date | The date of the reversal transaction. Enter the date in mm/dd/yyyy format |
Reverse units | Number of investment units (CDs, shares of stock, etc.) being reversed |
Reverse face amount | Portion of the investment face amount to be reversed. The face amount on the portfolio record will increase |
Reverse interest sold | Portion of the earned interest on the investment to be reversed. The interest receivable balance on the portfolio record will increase |
+Premium/-Discount | Premium (positive value) or discount (negative value) amount on the investment purchase to be reversed with the reversal transaction |
Reverse monthly amort | Monthly amortization amount to reverse |
Reverse +Gain/-Loss | Amount of gain/loss incurred on the original sale transaction. Look up the gain/loss amount on the original redemption transaction and plug in the appropriate amount |
Check amount | Dollar amount of the check (or wire) to be generated for the redemption/sale reversal. Sum of the above dollar-amount fields other than Reverse monthly amort. Display only |
Type | Method of payment for the reversal amount: check or wire. Click the drop down arrow to select the disbursement type |
When you have finished entering the amounts, click Save. You will see this message:
Click OK. You will be returned to the Portfolio Redemption/Sale Reversal screen.