Interest Payee Assignment

Overview of IL210SPLIT

The Interest Payee Assignment screen allows you to split out an investment's interest payments across multiple investors. To add an interest payee, click the Add button on the toolbar. The fields now activate for editing:

You have the following fields available to you:

Field	Description
Interest payee PIN	Type the payee PIN or click the search icon to select the payee. You can also click the Add button to add a new account
Payee type	Click the drop down arrow to select either Alternate or Owner
Total estimated interest	A display only field that displays the estimated interest to be paid out to this payee
Payment method	Click the drop down arrow to select the payment method. Your options are: Check, EFT Checking or EFT Savings
Bank account	This field only becomes active if you select one of the EFT payment methods. Enter the bank account number for this payee
ABA number	This field only becomes active if you select one of the EFT payment methods. Enter the ABA (bank routing) number for the account
Split type	Click the drop down to select either percentage (a percentage of the interest to be paid) or amount (a fixed amount to be paid)
Interest percent/amount	If you selected percentage in the split type, you can now enter the % that this payee will receive. If you selected amount, you can enter the fixed dollar amount that this payee should receive

When you have finished entering the information, click Save to retain your changes. You can now enter another payee or click Exit to leave the screen.