Creating investor fund transactions
Investor Fund Transactions can also be created using a web service. For more information, refer to section CL Loan: Creating an investor fund transaction in the CL Loan Administration Guide.
Prerequisites
None.
Steps
Perform the following steps to create an investor fund transaction:
Log in to your Salesforce account.
Click Accounts in the main menu bar.
Select the investor account.
In the Account Detail page, scroll down to the Investor Fund Transaction section.
Click New Investor Fund Transaction.
The New Investor Fund Transaction page is displayed with the investor account name as the default Account.
Modify the default Transaction Date if required.
Search for and select the Payment Mode for the funds to be transferred in.
Specify the Transaction Amount. A positive value indicates a deposit and a negative value indicates a withdrawal. For example, if investor withdraws 2000, specify the amount as "-2000". To deposit 1000, specify the amount as 1000.
Click Save. Once the transaction clears, the Cleared checkbox gets selected, and the Clearing Date field is updated. The Transaction Type field is displayed with a value of DEPOSIT or WITHDRAWAL, depending on the value of the Transaction Amount field.
Generating a NACHA file for the transaction type, deposit
The next step is to generate a NACHA file. For this, you must run the InvestorFundTxnSweepToACHJob. Suppose the system date is November 1, 2013 which is a Friday and the Lock period for investor funds is 2.
- Lock period is the time during which the investor fund transactions remain uncleared.
- Lock period is considered from the date the transaction is sent to ACH.
- The transactions is cleared only after the lock period number of business days have passed since its creation.
Here, as the dates November 2, 2013 and November 3, 2013 fall during the weekend, the system waits till Monday (as Lock Period for Investor funds = 2 ) and clears the transaction on Tuesday, November 5, 2013.
Since the Sent to ACH on date is November 1, 2013, the lock period for clearing this transaction starts from November 1, 2013.
- First, run the InvestorFundTxnSweepToACHJob job to generate a NACHA file. After you run this job, you can see that the transaction has been sent to ACH and a NACHA file has been generated.
- Now, run the InvestorFundTxnClearingJob to clear the transaction. After running the job, you can see that the transaction has been cleared, considering the lock period.
Generating a NACHA file for the transaction type, withdrawal
After repeating the steps 1 to 9 as given above, and running the Investor Withdrawal Transaction job, you can see that the transaction has been sent to ACH and a NACHA file has been generated.
Now you must run the Investor Fund Transaction Clearing job to clear this transaction. After running the job, you can see that the transaction has been cleared, considering the lock period.
Also, if you click the related Investor Account, you can see that the Available Funds have been updated.
Changing the Lock period for Investor funds
The InvestorFundTxnSweepToACHJob ensures that the transaction remains locked during the locking period. Your system administrator can modify the ACH parameters to change the lock in period.
Field reference
| Field Name | Description |
|---|---|
| Account | The investor account name. |
| Transaction Date | The date on which the investor funds are added. The transaction date must be the same as the system date. |
| Payment Mode | The mode by which the investor funds are received. For example, cash, or check. |
| Transaction Amount | The amount of funds to be added to or withdrawn from the investor account. A positive value, for example, 5000, indicates a credit. A negative value, for example, -3000, indicates a withdrawal. |
| Transaction Type | This field is displayed on saving the transaction. The type may be Withdrawal or Deposit, based on the transaction amount. |
Transaction Description | Description of the transaction. |
| Balance After | This is the balance before the current transaction is cleared. To get the balance after the transaction, add this amount to the transaction amount. |
| Cleared | This check box is selected once the investor fund transactions clears. |
| Clearing Date | The date on which the investor fund transaction clears and this additional fund becomes available for investing. |
| Reversed | This check box is selected if the investor fund transaction is reversed. |
| Rejected | This check box is selected if the investor fund transaction is rejected. For example, the bank may reject the transaction due to insufficient funds in the investor's external account. |
| Reject Reason | The reason for rejection of the transaction. |
| ACH Details - this section is applicable if the payment mode is ACH. | |
| Sent to ACH | This check box is selected when the transaction gets included in the NACHA file for processing. |
| Sent to ACH On | The date on which the transaction is sent for processing. |
| ACH FIlename | The ACH file name in which this transaction is included. |