Ability to continue an investment before money is matched

  • In scenarios where deposits are received across multiple bank accounts – typically because the Management Company holds an account at each major bank so investors can deposit using their own bank – funds reflect at the Management Company immediately upon deposit.
  • The Management Company then consolidates these deposits into a single deposit account managed on FINWorks. Because the inter-bank transfer may take time, FINWorks provides the ability to submit and authorise investment instructions before the deposit has been matched on the system, preventing unnecessary delays in the investment process.
Product Setup
  • Navigate to System -> Products and open the relevant product.
  • Under the Settings section, tick “Allow authorise investments before cash reconciliation”.
  • NOTE: This setting must be enabled on each product where pre-reconciliation investing is required. It is not a system-wide default.
Process

Once the product setting is enabled, the following workflow applies:

  • Create the Instruction: Navigate to the relevant investor contract and add a new investment instruction. Complete all required fields
  • Submit the Instruction: Click Submit. The instruction moves to Submitted status
  • Authorise the Instruction: A second user (or the same user if the canAuthoriseOwnInstruction permission is granted) authorises the instruction
    • The instruction status will reflect as “Authorised, deposit unmatched” – indicating the instruction has been approved but the corresponding deposit has not yet been matched on FINWorks.
  • Dealer Instruction Processing: The dealer instruction process will automatically pick up instructions in the “Authorised, deposit unmatched” status when dealer instructions are generated – no manual intervention is required at this stage
  • Deposit Matching (After the Fact): Once the consolidated transfer reflects in the deposit account, the deposit is matched to the instruction via Banking -> Match Deposits in the normal way. Note: Auto-matching will also match as per the normal process.
  • Processing via the API:
    • The instruction must be submitted with the Status as “Authorised”
    • Permission required for the API user: “Can authorise own instruction”
Unreconciled Investments Report
  • Navigate to Instruction -> Unreconciled Investments for a list of instruction in the state “Authorised, deposit unmatched”

 

Last Updated on 4 weeks ago by Tinus Burger