To access this window, click: Front Office Management - > Setup - > Fixed Deposit Types
The following screen will open up:
,
Creating A Fixed Deposit Type:
Click on the add Button to open the following screen:
On the above screen, fill in the details:
Name - Enter the name of the fixed deposit type.
Months - Select the term in months for which the money will be fixed.
G/L Account-Select the specific g/l account affecting the fixed deposit.
Interest expense g/l-Map the interest expense g/l
Advance Rate-define the percentage advance rate.
On the Tiers Button:
i) Tier Details:
Starting Value - specify the starting value in this field.
Range (Lower Limit) -specify the lower limit in this field.
Percentage - Define the rate applicable for the defined tier.
NOTE: The tiers are used to define the interest that will be earned according to the amount that the customer wishes to fix.
Starting value - defined once when creating tiers. Specifies the first lower limit. e.g. not all will start at 0.
5000 - 20000
5000 will be the starting value.
For every tier defined, define the percentage that is to be earned when the money is fixed, else the tier will have no returns.
Click on the add button to add the defined tier to the Tiers pane just below:
To remove an erroneous entry, select the entry then click on the remove button to effect the changes.
ii) Levies:
Select the applicable levies for the fixed deposit type product being created under this button.
iii) Offsetable Loan Products:
Select the loan products to be attached to the fixed deposit type product being created under this button.
Click on the create button to save the fixed deposit type into the system.
On successful completion you will get a pop-up message confirming that the operation was successful.
Editing A Fixed Deposit Type:
Identify the fixed deposit type to be edited right click on the selected entry click edit icon against it to open the following screen:
On the above screen, make the necessary changes to the Name, Months, G/L Account, Interest expense GL, Advance Rate, tiers, levies and offsetable loan products.
Is locked? -Click the flag when the Fixed Type is no longer operational/ being used.
Click on the update button to save the changes into the system.
On successful completion you will get a pop-up message confirming that the operation was successful.
