Deposits
Deposits is the other side of the book — money customers place with you rather than borrow. It handles fixed deposits, recurring deposits with monthly contributions, interest payouts, maturity, auto-renewal and pre-mature withdrawal.
Where to find it
Go to Customer Loan > Deposits.
Fixed or recurring
| Fixed Deposit | Recurring Deposit | |
|---|---|---|
| Paid in | One lump sum at the start. | A monthly contribution over the term. |
| Maturity amount | Known from day one. | Builds as contributions arrive. |
| Ongoing entry | None. | Add Contribution each period. |
What the list shows
| Column | Description |
|---|---|
| Deposit # | The deposit reference. |
| Depositor | Whose money it is. |
| Deposit Type | Fixed or recurring. |
| Deposit Date | When it started. |
| Deposit Amount | What was placed. |
| Interest Rate | What you pay on it. |
| Maturity Date | When it falls due. |
| Maturity Amount | What you will owe then. |
| Status | Active, matured, closed or withdrawn early. |
Deposits maturing in the next thirty days are a cash commitment, not a statistic. The Overview shows the figure specifically so it can be funded before the dates arrive.
Interest payout
Interest can be paid periodically through the term or added at maturity. Each periodic payout is recorded against the deposit, and Last Periodic Payout shows when the most recent one was made.
RD Contributions
Recurring deposits take a contribution each period. Add Contribution records one — the amount must be positive and the date valid. The maturity amount recalculates as contributions arrive.
At maturity
| Option | What happens |
|---|---|
| Maturity Payout | The deposit and its interest are paid out and the deposit closes. |
| Auto-renew at Maturity | A new deposit is created on the same terms, and the original closes noting the renewal. |
Pre-mature Withdrawal
A customer taking their money out early is handled by Process Pre-mature Withdrawal. A pre-mature penalty applies as a reduction to the interest rate, and the charge posts to its own account. A deposit already closed cannot be withdrawn again.
Certificates
Fixed and recurring deposits each print a certificate for the depositor, carrying the certificate number, amount, rate, maturity and the authorised signatory.
Related pages
- New Deposit — taking one in
- Overview — the deposit snapshot
- Settings — deposit accounts and pre-mature charges
- Customer Deposits tab — one customer's deposits