Term Investments

1. Navigate to the Accounts page and click Defaults in the left-side menu.
2. Select the following accounts next to each default field in the Term Investments section. 
   
   • Investment in Portfolio Receivable - Receivable on the investing fund.
   • Early Repayment Fee - Expense on the investing fund.
   • Interest Distribution Expense - Expense on the borrowing fund.
   • Interest Income Distribution - Expense on the investing fund for paying out interest distribution (the expense account on the voucher).
   • Principal Due to Investors Liability - Liability for the borrowing fund.
   • Early Repayment Revenue - Revenue for the borrowing fund.
   • Interest Income from Portfolio - Revenue for the investing fund for interest calculation.
     
     

1. Navigate to the Term Investments page and click Interest Rate Strategies in the left-side menu.
2. Click Create in the left-side menu.
3. Complete the applicable Interest Rate Strategy information, and then click Create.
   • All fields all required. 
   • All changes made to the Interest Rate Strategy are logged. 
     • Name - Name of the interest rate strategy.
     • Rate - The Rate in decimal form (1%=.01).
     • Type - The type, either Fixed or Variable. 
       • Fixed – The rate is locked. If the rate is edited, it will not change rate for any investments that currently have that code.
       • Variable – The rate can be changed at any time. Updates to rates will update any investments with that code.
         
         
         

1. Navigate to the Funds page and click Create in the left-side menu.
2. Complete the applicable Create Fund information, and then click Create.
   • Name, Group, Investment Strategy, and Checking Account are required fields.
   • Fund Fields provides additional guidance.
     
     
3. Create an Investor profile fund category if it does not exist in the system. 
4. Create an investor profile if it does not exist in the system. 
   1. Navigate to the Profiles page and click Create in the left-side menu.
   2. Click Create Individual Profile.
   3. Complete the applicable Individual Profile fields, and then click Save.
      • Name is the only required field.
   4. Click [Make] next to Vendor on the investor profile.
      
      
      
   5. Click [Make] next to Customer on the investor profile.
      
      
      
   6. Click the Relationships tab on the investor profile.
      
      
   7. Click Link Fund in the left-side menu.
   8. Complete the applicable Link Profile To Fund information, and then click Create.
      • All fields are required.
        
        
        

1. Navigate to the Payments page.
2. Enter the investor name in the Create Payment field and select the name from the drop-down list.
   
   
   
3. Complete the applicable Create Payment information, and then click Create.
   • Payment Date, Payment Method, Amount, and Fund are required fields.
     
     
4. Click Create Invoice in the left-side menu.
5. Complete the applicable Create Quick Invoice information, and then click Create/Post/Apply.
   • Invoice Date, Description, and Revenue Account are required fields. 
   • Fund and Amount fields will auto-populate from creating the payment. 
   • Revenue Account - The Revenue Account is the credit account.
     • This field does not have to be a revenue account.
       
       
6. Click Show Till in the left-side menu.
7. Click Deposit To Bank in the left-side menu.
8. Complete the applicable Deposit Cash/Checks From Till Into Bank information.
   
   
9. Check the box next to the deposit, and then click Deposit.
   
   

1. Navigate to the Term Investments page and click Create in the left-side menu.
2. Complete the applicable Term Investment information, and then click Create. 
   • Amount, Investing Fund, Borrowing Fund, Asset Account, Investment Date, and Interest Rate Strategy are all required fields.
   • A maturity date is required for Fixed rate investments and optional for Variable rates.
     • Amount - The amount of the term investment.
     • Investing Fund - The fund that holds the term investment. 
     • Borrowing Fund - The fund that is associated with the investing fund. This fund holds term investment liability.
     • Asset Account - This is the bank/investment account that holds the term investment balance.
     • Investment Date - Date of the term investment record.
     • Maturity Date - Date that the term investment matures.
     • Early Repayment Fee - Fee for early distribution of the term investment.
     • Description - Optional detail for the term investment record.
     • Investor Type - Option to record whether the term investment is held by an individual or organization.
     • State - Option to record the state associated with the investor for reporting purposes.
     • Distribution Type - Grant or Voucher.
       
       
3. Click Post in the left-side menu.
   • The resulting entries to the investor fund (receivable) and investment fund (payable) can be viewed in the General Ledger.

Interest calculations can be done individually or in batch.

1. Navigate to the Term Investments page and click Interest Calculations in the left-side menu.
2. Click Create in the left-side menu.
3. Complete the applicable Select Dates For Interest Calculation information, and then click Next. 
   • Start Date and End Date are required fields.
   • The interest calculation uses the average daily balance.
   • Start and End Dates are typically the first and last day of the month. If it is run for the 1st through the 15th of the month and then a calculation is done for the 1st through the 31st, the system will only use the 16th through the 31st dates.  
     • Start Date - Start date of the interest calculation.
     • End Date - End date of the interest calculation.
     • Post Date - Any desired date.
       
       
4. Check the box next to the Investing Fund, and then click Calculate.
   
   

The Term Investment record will start displaying transactions history.

Term Investments can have additions added if needed. If the term investment is a fixed rate investment, there is a warning asking to create a new term investment. The systems will use the existing rate.

1. Navigate to the Term Investments page and click Interest Distributions in the left-side menu.
2. Click Create in the left-side menu.
3. Check the Term Investment box, and then click Create Distributions.
   
   
4. Check the Internal Loan box, and then click Create Distributions.
   
   
5. Review the interest distribution to confirm the information, and then click Post in the left-side menu.
6. Navigate to the Term Investment record. 
   • The term investment will be located in the Term Investment Repayments section.
7. The associated voucher or grant record must be posted separately.
   • This record can be accessed by selecting the Voucher/Grant ID in the Distribution Type column of the Term Investment Repayments section.
     
     

1. Navigate to the Term Investments page.
2. Click the term investment ID.
   
   
3. Click Repayment in the left-side menu.
4. Complete the applicable Create Term Investment Repayment information, and then click Create.
   • Amount and Post Date are required fields.
   • Amount - The amount to be paid. 
   • Final Repayment - If checked, the investment will be closed with a final redemption. 
   • Post Date - If the investment is being paid early, an early payment fee can be assessed.  The fee can be set in the Term Investment record when the record is created.
     
     
5. Click Post in the left-side menu.
   • Posting moves the term investment to the paid bucket and creates a voucher/grant record.

If the repayment is not the final payment, a payment date, amount, and expense account must be added.  There is an option to create the Repayments in Bulk. 

1. Navigate to the Term Investments page.
   • Option 1: To update repayments in bulk, click Renew Terms in the left-side menu.
   • Option 2: To update repayments individually, click the ID of the term investment, and then click Renew Terms in the left-side menu.
2. Select a new Maturity Date and click Save.