Adding Multiple Payment Clearing or Disbursement Accounts

Adding Multiple Payment Clearing or Disbursement Accounts

Investors can set up multiple payment clearing or disbursement accounts and use multiple payment accounts to identify the sources of funding for a loan. Transactions are accounted for in the general ledger.

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First, you must set up the new bank account:
  1. System Administration Application.
  2. Open Bank Account.
  3. New.
  4. Complete the form and select OK.
Next, add a Payment Account:
1. Open Investor Accounting, and then click Investors.
2. Select an investor, click Edit, and then click the Funds Appl tab.
3. Click Additional Bank Assignments button, select the type of bank account, and then click Edit.
4. On the Edit Additional Bank Assignment, select bank account name, and then click OK.
5. In Table Setup, select Payment Address Control, and then click Open. The Payment Address Control screen appears. The New button is available if there are multiple bank account assignments set up for any investor.
6. Click New, and then select the appropriate bank account name from the drop-down list.
7. Enter the payment account information, including the address, and then click OK.
8. Repeat Steps 7-8 as needed to add additional payment clearing accounts.

ArticleNumber:

000051074

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