Re-depositing an Investment
Overview of IL215
Occasionally you may make a withdrawal from the wrong investment. This could occur, for example, if you were to inadvertently transpose two numbers in the investment ID. When an incorrect withdrawal occurs, if you are unable to utilize the Financial Transaction Erase process, you can use a redeposit and subsequent payout from the correct investment to reverse the error. This procedure describes the process of re-depositing a cash receipt to the appropriate investment.
Step 1: Create a cash receipt batch in Stage 1 for the amount that you wish to redeposit to the investment
Step 2: Use Payment Processing to process the re-deposit
- From the DDI Connect main menu, double-click Financial Services
- Double-click Data Processing
- Double-click Payment Processing. You will see a screen similar to this one:
Locate the batch containing the item that you wish to redeposit:
Double-click the item. This will activate the distribution tab:
Double-click Investment Transactions, and then double-click Investment Redeposit:
This will launch the investment redeposit screen:
In the Inv # field, type the investment number that you are redepositing to. You can also either click the list icon to display a list of investments in the system or click the binoculars to search for the investment. Once you have entered the investment number, press enter or click Find. The investment information will populate:
You have the following fields available to you:
| Field | Description |
|---|---|
| Redeposit Date | The system will default the redeposit date to be the business date. However, you can override that by typing the date in a mm/dd/yyyy format or by clicking the calendar icon to select the new date |
| Principal Redeposit | Enter the amount that is being redeposited back to the investment principal |
| Interest Redeposit | Enter the amount that is being redeposited back to the investment's interest (accrued & 1099) |
| Penalty Redeposit | Enter the amount that is being redeposited back to the investment's penalty information (penalty paid, penalty accrued and penalty paid TTD) |
| Withholding Redeposit | Enter the amount that is being redeposited back to the investment's withholding (total withheld, withheld YTD and withheld QTD) |
When you have entered all of the information, the Total redeposit must equal the available:
When those numbers match, you can click Save to perform the redeposit. You will see this message:
