Share Accounts
Tip - You need to have created savings account in either to create share account. So whenever there is a dividend posting, it will post to the linked savings account.
To create savings account, follow link here:- How to create Saving Accounts
To create a share account for a client
To create a share account for a client, select the client by searching the desired client from Global Search. Click the General tab.
On the Client page, Click +New share account on the bright blue action bar.
- 1 - Provide Product - Provide product name.
- 2 - Provide Submitted on - Provide application submitted on date.
- 3 - Provide External - Provide external id.
- 4 - Currency Info field - Displays selected currency information
- 5 - Decimal info field - Displays provided information field
- 6 - Provide Total number of shares - Mention number of shares to be issued for this client.
- 7 - Today's price info field - Displays today's per share price value
- 8 - Currency in multiples of info field - Displays provided currency in multiples of value
- 9 - Select Default savings account - Select savings account to link with this share account.
- 10 - Provide Minimum active period - Optional field, You could provide number of days needs to be active in either restrict receiving dividends.So Post dividends will validate if it meets provided minimum number of days.
- 11 - Provide Lock-in period - Optional field, for the provided lock-in period it gets locked and shares cannot be redeemed in that mentioned period.
- 12 - Select Application Date - Although submitted(2) on date is a different date, shares can received only from this application date.
- 13 - Allow dividends for inactive clients - Check the check box if you want to enable to provide dividends to clients although they are inactive status. On enabling this dividend will only be provided only once, i.e for example client bought share on 1st Jan,2015 and redeemed(sold) it on 31st June, 2015. And organization declared dividend on 1 August, 2015 so he will get the dividend although he is in inactive status and only for once.
- 14 - Select Charges - In either to use Add charge, you should have already defined it in charges. For more information on charges refer here: Charges
- 15 - Remove charge button - It's a list of selected charges and you could remove selected charge by clicking on x button.
- 16 - Click on submit button.
Approve share account
Click on approve button and provide the date then click on submit.
Activate share account
Click on activate button & provide the date then click on submit.
View & other activity of share account
Once the share account is in activate status, the icon would show in green color as shown in the image.
Apply additional shares - You could add additional shares by providing date and number of shares.
Redeem shares - You could redeem shares by providing date and number of shares for redeeming. Shares get redeemed to linked savings account.
More>>Close - On clicking on the close button share account gets closed & if there are any shares it will get redeemed automatically to linked savings account.
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