Renew Investment and Add Funds
I have an existing investor who would like to renew their investment. They would also like to add funds to increase the value. How do I process that?
There are 2 or 3 steps to this process, depending on how you wish to handle the "original amount" field.
Step 1: Transfer the existing investment to the new investment
- From the DDI Connect main menu, double-click Financial Services
- Double-click Investments
- Double-click Transactions
- Double-click 200 Transfer and Payout. You will see this screen:
- In the To Inv # field, you can choose to:
- Select an existing investment from a list by clicking the list icon
- Search for an existing investment by clicking the binoculars
- Create a new investment by clicking the New investment icon:
If you elect to add a new investment, you will be taken to the IL210 (Investment Add) screen. For information on how to add a new investment, please reference this page: Adding an Investment
- Once you have added or selected the new investment, you can now select the "From" investment:
- Type in the investment number you are transferring FROM, or click the list icon to display a list of investments. You can also click the binoculars to search for the investment you are transferring from
- Click Find or press Enter to continue:
At the bottom of the screen, you will see the fields that you have the ability to modify. First, look at the Interest field. If you click the drop down arrow to the right of that field, you can tell the system how to handle the interest on the original investment:
Your options are:
- Ignore - If you choose this option, the process will ignore all accrued interest
- Transfer - If you choose this option, the process will transfer all accrued interest from the existing investment to the new investment
- Pay - If you choose this option, you can tell the system how to pay out the accrued interest
If you selected "Pay" as your option on the interest, you can click the drop down arrow to the right of the Pay via field to tell the system how to pay out the interest:
Your choices here are:
- Daily Check - This will generate a check that will be printed when your organization processes checks
- Immediate Check - Do not use this functionality, as it is no longer valid. As of the writing of this document, a request is pending to remove this from the list
- Offline Check - This indicates that the check has been created outside of the DDI Connect system (for example, by a manually written check)
- Wire - This will create a wire transfer for the interest payment
Depending on what you chose as your option for handling the interest, you will see the transfer amounts reflected:
The entire principal balance is in the Principal field. If you are not transferring the entire amount, you can modify this field.
If you elected to transfer the interest, that information is in this area as well. However, you cannot modify it. You will also note that the Taxable field is activated, and the entire interest amount is shown in that field. You can modify the field if the entire interest amount should not be taxable.
Once you have reviewed and modified the fields as needed, click Save. If the transfer is successful, you will see the message "Transaction successful". Click OK to proceed.
Step 2: Process the additional amount to be added to the new investment
The next step is to add the additional funds that the investor sent for the new investment. This is done via Cash Processing:
- From the DDI Connect main menu, double-click Financial Services
- Double-click Data Processing
- Double-click Cash Receipts Stage 1. You will enter the payment, either in a new batch or an existing batch. For information on how to use the Cash Receipts Stage 1 screens, reference this page: Cash Processing Stage 1
- After the payment has been entered in Stage 1, you will process the payment. Double-click Payment Processing from the Data Processing menu
- In the Open batches area, locate the batch that contains the payment you wish to apply to the new investment. Click once on the batch to display the items in the Detail area:
- Double-click the payment item to activate the Transactions menu:
- Double-click Investment Transactions. This will display the Investment sub-menu:
- Double-click the Investment Purchase option. This will launch the Investment Purchase screen:
Note: If you entered the new investment number in the "Reference" field in Stage 1 Cash Receipts, the system will automatically pull up the investment. If you did not, you will type the new investment number in the field and either press Enter or click Find.
- Verify the deposit date and deposit amount. If both are correct, click Save. If the process is successful, you will see the message "Transaction Successful". Click OK to proceed.
Step 3: Modify Original Amount (Optional)
If your organization prefers that the Original Amount show the balance of the old investment plus the new monies deposited, you can modify that information to appear properly on the investment note.
- From the DDI Connect main menu, double-click Financial Services
- Double-Click Investments
- Double-click Transactions
- Double-click 210 Investment Maintenance. You will see this screen:
- In the Inv # field, enter the investment number. You can also click the list icon to view a list of all investments in the system, or click the binoculars to search for an investment. Press enter or click the Find button. The screen will now populate:
- Modify the Original Amount to reflect the correct number, based on your organization's preferences
- Click Save. If the process completes correctly, you will see the Message "Transaction successful". Click OK
