1.2 Account Class

You can classify the customer accounts of the bank into different groups and assign each group an identifying code.

For example, you may define a group called CORCUR for corporate current accounts, CORMCU for corporate multicurrency current accounts, INDLSB to represent local currency savings account held by individuals.

Each group is referred to as an Account Class and is maintained in the Account Class screen. For each class, you also define certain common fields applicable to the accounts in this class, such as, the General Ledger lines to which the accounts in this class report to, facilities granted to the account holders (cheque book, ATM, limits and so on).

Account class definition and various features of an account class are captured across the following sub-screens covered as subtopics.

• Basic Details
• Features
• Preferences
• Limits
• Interest
• MIS Details
• GL Reporting Details
• Statement Preferences
• Status Rule Definition

This topic contains the following subtopics:

• Create Account Class
  This topic describes the systematic instructions to create account class. The maintenance screen allows the user to configure account class parameters.
• View Account Class
  This topic describes the systematic instructions to view the list of configured account classes.