Investment Category Maintenance
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:
To add a new investment category, click the Add button on the toolbar. You will see this screen:
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 | Example |
| High % | Example |
| Low % | Example |
| Current % | Example |
| Extension type | Example |
| Demand note | Example |
| Allow additional deposits | Example |
| Form code | Example |
| Default term | Example |
| Min wdraw | Example |
| Max wdraw % | Example |
| Min deposit | Example |
| Min balance | Example |
| Penalty % | Example |
| Penalty days | Example |
| Step-Up count | Example |
