Total
Legal Accounting 3
SECTION
3.3.1 - INTEREST PAYMENTS
USAGE: To enter Interest Payments. These are amounts paid
by the bank into the Securities account.
DISCUSSION: When you start the INTEREST PAYMENTS
program, T.L.A. initially asks you for a Register code. If you cannot remember
the code, press <F9> to initiate a search. T.L.A. will check that the code does not refer
to a file that is closed.
Typically, the screen will now look like this:
The file will be displayed with its corresponding
Trust account, the name on the Trust file, the description of the accout and
the amount invested. Also the current Account Balance is displayed on the left
of the screen.
Next you must enter the details of the transaction.
There are several fields to enter:
Name Comments
DATE This field
defaults to today’s date (as per the date at the top right-hand-corner of your
screen). You may change it to any valid date within the calendar (as defined in
SECTION 7.1.6.) This is the date you wish to bill
the amount. Aging of the account will start from this date. You may return the
date to today’s date by pressing <F1>.
DESCRIPTION Here you enter the details of the transaction. It
cannot be blank, but you can change it to any 50 character description. Certain
function keys become available here: <F1> allows you to repeat the
previous description - assuming you have already entered one transaction and
have not returned to the DATA ENTRY MENU. <F2> enters the phrase INTEREST. <F3> enters the phase BONUS
INTEREST.
REFERENCE This field will default to
the last reference number you entered, plus one. Depending on your settings in SYSTEM
DEFAULTS (see SECTION 7.1.2) you may be able
to change it to a different, non-zero value. The largest value available is 999999.
INTEREST This is the total value
you were credited with.
At each point, you may cancel the INTEREST
PAYMENT by pressing <ESC>. However, it is possible to
return to a specific field by using <CsrUp> or <F8>.
At the end of the INTEREST PAYMENT you will be asked to confirm the update. This is
the point of no return. Once you answer Y, T.L.A. will update all the relevant files.
Up to this point you can cancel or modify the details. After you have updated
the INTEREST PAYMENT, you can only
remove it by entering a negative INTEREST
PAYMENT i.e. the same entry but
with a negative value.
Files updated by the Interest Payments program:
Securities
& Investments master-file: The
Security’s balance is updated with the value of the transaction.
Securities
& Investments transaction file: A
transaction is entered with the details of the transaction.
Client/Trust
master-file: The Trust file, which
this Securities file links to, is updated with the value of the transaction.
Audit
transaction-file: Each
transaction creates a line in the Audit file, which can then be printed in the AUDIT
TRAIL.
