3.1 Process Product Maintenance Detail

This topic provides the steps you need to follow to define a Product.

1. On Home screen, type LEDPROD in the text box, and click Next.
   The Product Maintenance Detail screen is displayed.

   Figure 3-1 Product Maintenance Detail

   
   

   
   Description of "Figure 3-1 Product Maintenance Detail"

   
   
2. On Product Maintenance Detail screen, click New to enter the details.
   For more information on fields, refer to the field description table.

   Table 3-1 Product Maintenance Detail - Field Description

   Field	Description
   Product Information	This section displays the following fields.
   Product ID	Alphanumeric; 10 Characters; Mandatory Specify a unique identification for the product that is being defined through this screen. This identification will be used whenever subsequent reference is made to this product in the system. The ID you enter can contain a maximum of 4 characters.
   Product Name	Alphanumeric; 60 Characters; Mandatory Give the Product ID a description which will help you identify the same easily.
   Rule Effective Date	Date Format; Mandatory Specify the date from which the Product profile definition will become effective for all transactions in this product. By default, this date is displayed as the next working day in the system.
   Product Short Name	Alphanumeric; 20 Characters; Mandatory Specify a short name for the product.
   Product Mnemonic	Alphanumeric; 10 Characters; Optional Specify a mnemonic for the product. The mnemonic is typically used as an identifier to run queries or to generate reports regarding the product.
   Product Type	Alphanumeric; 4 Characters; Mandatory The various Product Types you have already maintained through the Product Type Maintenance screen will be available for selection in the option list. Select the Product Type that is applicable to the Product.
   Product Type Description	Display The system displays the description for the selected product type.
   Product Class	Alphanumeric; 4 Characters; Mandatory The Product Classes that you have specified through the System Parameters screen will be available for selection in the option list.
   Product Class Description	Display The system displays the description for the selected product class.
   Existing Product?	Mandatory Select Yes to indicate that the product is an existing product. For an existing product, the Product Start Date is earlier than the application date. If any existing business products need to be entered into the system, this field facilitates easy conversion of the same.
   Product Base Currency	Alphanumeric; 3 Characters; Mandatory Select the currency that the Product will use, from the options provided in the option list. The currency that you choose for the product will be the reference currency for all the fields identified as part of the Product.
   Currency Name	Display The system displays the name of the currency for the selected product base currency.
   Product Country	Alphanumeric; 3 Characters; Mandatory Select the country where the product will operate, from the options provided in the option list. When the system computes the withholding tax applicable on annuity payments in this Product, the base country information that is specified here is taken into consideration.
   Product Country Description	Display The system displays the description for the selected product country code.
   Plan Administration By	Alphanumeric; 3 Characters; Mandatory Select the entity that will administer the plan. The option list includes all the options that you have maintained in the System Parameters Maintenance screen for the Parameter Code POLICYCODE. Refer to the topic Maintaining System Parameters in the Security User Manual for further information on the System Parameters Maintenance.
   Plan Administration By Description	Display The system displays the description of the selected Plan Administration by details.
   Plan Administrator	Alphanumeric; 60 Characters; Optional Select the Administrator for the entity that you have chosen. The option list includes all the entities that you have maintained in the Single Entity Maintenance screen. Refer topic Maintaining Reference Information in the Reference Information User Manual for further information on the Single Entity Maintenance screen.
   Plan Administrator Description	Display The system displays the description for the selected Plan Administrator ID.

3. Click the Fetch Product Type Info button to fetch the product type information after specifying the necessary details.