To access this window, click:Accounts Management - > Setup - > Financial Products - > Investments.
The following window will open up:
Creating An Investment Product:
Click on the ADD NEW Button, to open the following screen:
On this Add screen, fill in the following fields:
Name - Enter the name of the Investment Product
Minimum Balance - Enter the Minimum balance applicable for the Investment Product
Maximum Balance - Enter the maximum amount applicable for the Investment Product
Recovery Priority -Enter the recovery priority of the investment product.
An investment product that is given a recovery priority 1 means that it will be the first product to be recovered during loan repayment and so on.
Maturity Period (Days) - Enter the period in days an investment product takes to mature.
Annual Percentage Yield - Enter the annual percentage yield for the particular product.
G/L Account - Click on the lookup icon to open the G/L Account Lookup dialog box:
Select the appropriate account to be attached to the investment product.
Parent Product - Click on the lookup icon to open the Investment Product Lookup dialog box:
Pool amount -Enter the pool Amount
Pool G/L Account - Click on lookup icon for the G/l pool account
Bill Reference number - Enter the bill reference number
Select the appropriate parent product to be attached to the investment product being created.
Flags :
The above check boxes represent actions to be associated with the investment product being created. Check accordingly.
Is Super Saver ? - check if the product is to be a super saver.
Is Refundable ? - Check to make the product refundable
Is Pooled ? - Check to enforce pooling actions on the product
Conceal MBanking Listing ? - check this to omit the product from product listing for certain operations e.g balance inquiry when user dials m banking ussd code.
Is Institutional Capital ?
Is Locked ? - Check to lock the product from being accessed and used.
When done click on the CREATE Button to complete this task.
On successful completion you will get a pop up message confirming that the operation was successful.
Editing An Investment Product:
Identify the the investment product to be edited:
Then click on the edit icon against it to open the following window :
On this Edit screen, modify the relevant fields - Name, Minimum Balance, Maximum Balance, Recovery Priority, Maturity Period (Days), Annual Percentage Yield, G/L Account and Parent product.
Click update to commit the changes into the system.
On successful completion you will get a pop up message confirming that the operation was successful.
Investment Products With Classification.
These are the types of investment products being offered to customers with an advantage of better loan appraisal parameters.
NOTE : This is applicable to investment products which are used during loan appraisal.
Else, no need to define.
Use this sub-module to create or edit an existing investment product to include customer classification.
To access this window, click: Accounts Management - > Setup - > Financial Products - > Investments > Investment Products With Classification.
The following window will open up:
Investment Products With Classification Fig 1
Creating A New Investment Product:
Click on the CREATE Button, to open the following screen:
Investment Products With Classification Fig 2
On this Create screen, fill in the following fields:
Name - Enter the name of the Investment Product
Minimum Balance - Enter the Minimum balance that can be invested by the customer
Maximum Balance - Enter the maximum amount that a customer can invest.
Recovery Priority -Enter the recovery priority of the investment product. An investment product that is given a recovery priority 1 means that it will be the first product to be recovered during loan repayment and so on.
Maturity Period (Days)-Enter the period in days an investment product takes to mature.
Annual Percentage Yield - Enter the annual percentage yield for the particular product.
G/L Account - Click on the lookup icon to open the G/L Account Lookup dialog box:
Investment Products With Classification Fig. 3
Select the appropriate account to be attached to the investment product.
Parent Product - Click on the lookup icon to open the Investment Product Lookup dialog box:
Investment Products With Classification Fig. 4
Select the appropriate parent product to be attached to the investment product being created.
Pool amount -Enter the pool Amount
Pool G/L Account - Click on lookup icon for the G/l pool account
Bill Reference number - Enter the bill reference number
Check the
flag if the amount is to be transferred to the parent product when the member quits.
Flags :
Investment Products Fig. 5
The above check boxes represent actions to be associated with the investment product being created. Check accordingly.
Is Super Saver ? - check if the product is to be a super saver.
Is Refundable ? - Check to make the product refundable
Is Pooled ? - Check to enforce pooling actions on the product
Conceal Bank-To-Mobile Listing ? - check this to omit the product from product listing for certain operations e.g balance inquiry when user dials m banking ussd code.
Transfer balance to parent product on membership termination ? - check this flag if the amount is to be transferred to the parent product when the member quits.
Is Locked ? - Check to lock the product from being accessed and used.
When done click on the CREATE Button to complete this task.
On successful completion you will get a pop up message confirming that the operation was successful.
Editing An Investment Product:
Identify the the investment product to be edited:
Then click on the edit icon
against it to open the following window :
Investment Products With Classification Fig. 7
On this screen, make appropriate changes to the relevant fields.
Exemptions Window :
Investment Products With Classification Fig. 8
On the above window, do the following :
NOTE : There are Different membership classifications
Select the appropriate class for which exemptions are to be created.
Define the maximum balance and appraisal multiplier for each class correctly.
Once an exemption has been created for a class, a second entry cannot be captured.
The following error will pop up :
The exemptions window will appear as below :
Investment Products With Classification Fig. 9
Highlight and click remove to get rid of an erroneous entry.
When done click on the UPDATE Button to complete this task.
On successful completion you will get a pop up message confirming that the operation was successful.
NOTE : Normalization will occur according to the customer's classification.
The account to be debited from will be checked in a pre-defined interval, until the maximum balance defined in the product exemption is reached.
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