Release 19 September 2018 – Allow Payments from all cash instruments

Allow Payments and transfers from Cash Instruments other than Transacting account Instruments

This functionality enables the shortening of the cash flow path on investments, withdrawals and switches. On Cash instruments, including Trading Accounts, it is now possible to select ‘allow payments’, ‘Allow Payments for withdrawals’, Allow Cash Transfers’, which will enable the cash instrument account to function as a transacting account from which payments can be made.

  1. Allow cash transfers – Cash transfers can be done without requiring movement to the transacting account first
  2. Allow payments – payments to dealers can be done without requiring movement to the transacting account first
  3. Allow payments for withdrawals – withdrawal payments to Clients and Brokers can be done without requiring movement to the transacting account first

 

For example:

Switch from Trading Account A with dealer A to Trading Account B with dealer B

If ‘Allow cash transfers’ is not activated on Trading Account A
Cash Flow path: Trading Account A -> Transacting Account -> Trading Account B

If ‘Allow cash transfer’ is activated on Trading Account A
Cash Flow path: Trading Account A ->  Trading Account B

 

Small changes including:

  • Add current % to “Model portfolio allocation comparison” report
  • Show history on detail view of model portfolios
  • Make Insurance instrument transactions a cash flow on the instrument
  • Add option to configuration to specify Reset password request expire days and Online application request expire days
  • Change Ongoing fee leg to the fee portfolio to be a cash flow on the account and instrument
  • Remove option ‘units reinvested’ from Cash instrument distributions
  • Create option for adding interest to withdrawal payments to clients where withdrawal tax applies. See link
  • Make cash flow instrument selectable on Portfolio instruments. See link
  • Add ability to set default buy bank account on dealer. See link
  • Add ID/Account number to System->Document screen
  • Import of Finswitch transactions via realtime web services button
  • Create facility to remove override of fees from investors with the Import Investors report
  • Allow cash distribution amount to be 0.00 and therefore funded 100% from working portfolio

Change Bank transfers to Money transfers

Transfers does not always include a bank account anymore. We can now do forex transfers between trading accounts, receive deposits directly into a trading account, do payments directly from a trading account and transfer money between trading accounts (same currency). Therefore money is involved and not necessarily a bank account.

On a transfer, the “from Account” and “to Account” has been changed to be supplier instrument accounts instead of bank accounts, as matching of bank account entries have become matching of money.

Cash Instrument Transfers and Internal Transfers have also been merged as Money Transfers under the Banking main menu.

Refer to your online Pivotal Tracker Project for a full list of changes and enhancements for the release.