Dormant Account

  • Puneeth0
  • Topic Author
  • Offline
  • New Member
  • New Member
  • Posts: 9
  • Thank you received: 0

Puneeth0 created the topic: Dormant Account

Can Any 1 Tell Me The Work Flow Of Dormant Account In T24?
#13827

Please Log in or Create an account to join the conversation.

  • Posts: 412
  • Karma: 10
  • Thank you received: 52

kripesh replied the topic: Dormant Account

The field INACTIVTY.MONTHS in the COMPANY record indicates the number of months without customer activity before an account is declared inactive. An account is marked to inactive during the close of business.

The application ACCT.INACTIVE.RESET is used to remove the inactive setting in the account. The value of the RESET.DATE must be today. During the Close of business the INACTIV.MARKER field in the account record will be cleared.

The application ACCOUNT.CLOSURE is used to close accounts whether online or during the close of business. The account number is used as the record id, and the system will calculate outstanding interest, premium interest and charges. You may amend the capitalisation date, settlement account and the posting restriction to be placed on the account record

Interest and Charges are calculated on the value dated balances and account activity statistics stored in the ACCT.ACTIVITY file, taking into account all entries over the account up to and including the last end of day processing.
When an account is flagged for closure, any entries over the account require an override.
During end of day processing the following working day, if the OPEN.ACTUAL.BAL and OPEN.CLEARED.BAL are both zero, the account is closed

If it is required to close the account online then the field CLOSE.ONLINE should be set to Y. In addition to this the user must decide which application will be used to pass the entries, which will settle the account. FUNDS.TRANSFER, TELLER or ACCOUNT.CLOSURE can be used to pass these entries. The field CLOSE.MODE will accept FT, TELLER or NULL, if NULL is specified then ACCOUNT.CLOSURE will be used. Once the ACCOUNT.CLOSURE record is authorised the system will raise the relevant entries and move the account record to history.
If FUNDS.TRANSFER is used after the ACCOUNT.CLOSURE record is input the system will automatically raise an FT record and place it on hold, the id of the FT is stored in the field FT.ID. Once the FT has been authorised, and the OPEN.ACTUAL.BAL and OPEN.CLEARED.BAL are both zero, the ACCOUNT.CLOSURE record should be authorised and the account is closed and moved to history.
If Teller is specified in the ACCOUNT.CLOSURE record, the system raises a TELLER.DEFAULT record the ID of record is the ACCOUNT number, this record holds information that will be used in the TELLER transaction which will pass the entries. The user is required to input a TELLER record, the ID of the TELLER.DEFAULT record should be populated in the OUR.REFERENCE field of the TELLER, (once the TELLER.DEFAULT record has been processed it can not be reused), and this will then populate the transaction with details from the ACCOUNT.CLOSURE. Once the TELLER is authorised and the OPEN.ACTUAL.BAL and OPEN.CLEARED.BAL are both zero, the ACCOUNT.CLOSURE record should be authorised, and the account will closed and move to history.

Have a great day !
#13829

Please Log in or Create an account to join the conversation.

  • Posts: 412
  • Karma: 10
  • Thank you received: 52

kripesh replied the topic: Dormant Account

The system will not allow an account to be closed if it meets one of the following criteria
• Part of a SAM
• Direct Debit
• If it is a liquidation account
• Interest compensation account
• Charge account
• All-In-One account
• Part of a sweep account
• Part of a cash pool
• Not in current company
• Part of collateral
• Unauthorised AC.PENDING exists
• Blocked using AC.BLOCK.CLOSURE
• Closure should not be flagged when account is in suspense

Have a great day !
#13830

Please Log in or Create an account to join the conversation.

  • Puneeth0
  • Topic Author
  • Offline
  • New Member
  • New Member
  • Posts: 9
  • Thank you received: 0

Puneeth0 replied the topic: Dormant Account

Hi kripesh,

Thanks For Ur Reply. Please Tell Me How To Prepare Test Cases On Dormant Account.
Area To Be Cover: Enquiry: List Of Inactive Accounts, Closed Accounts, Dormant Account
Greater Than 12 Months,Dormant Account By Selection Criteria.


Thanks Regards,
Puneeth B U
#13831

Please Log in or Create an account to join the conversation.

  • Posts: 412
  • Karma: 10
  • Thank you received: 52

kripesh replied the topic: Dormant Account

1. Set Inactive Months differently for different companies and check if
the INACTIVE marker is set accordingly after number of COBs run
2. Check the application ACCT.INACTIVE.RESET by setting dates
that is equal to TODAY , a backdate and also a forward date if it allows.
3. See if the INACTIV.MARKER is removed accordingly.
4. Input some transactions using this INACTIVE accounts and see if overrides are raised
accordingly.
5. Try using these dormant Accounts in some local applications that has an ACCOUNT field
and see how it behaves.
6. Try doing the same for an Internal Account as well.
7. Run all enquiries related to Inactive accounts / Closed accounts to see if relevant
records are displayed correctly.

Have a great day !
#13832
The following user(s) said Thank You: Puneeth0

Please Log in or Create an account to join the conversation.

  • Posts: 152
  • Karma: 3
  • Thank you received: 0

bala_gates replied the topic: Dormant Account

Hi


can you tell me how to supress the system genarated transaction in dormat account like debit / credit interest or any charges.

Regards
R Balaguru
#14817

Please Log in or Create an account to join the conversation.

  • Posts: 2842
  • Karma: 512
  • Thank you received: 645

jpb replied the topic: Dormant Account

just a quick idea :

set up conditions based on INACTIV.MARKER in ACCOUNT

Some people feel the rain - others just get wet (Bob Marley)
#14819

Please Log in or Create an account to join the conversation.

  • Posts: 103
  • Karma: 2
  • Thank you received: 7

MasterL replied the topic: Dormant Account

This works best if you are using IC.CHARGE to generate monthly charges since you can attach a routine to IC.CHARGE.PRODUCT to charge only when certain conditions are met.
#22020

Please Log in or Create an account to join the conversation.

Time to create page: 0.206 seconds