3.1.3 Transaction Details Tab

This topic explains the transaction details tab of Policy Transaction-TOPUP Detail screen.

1. On Policy Transaction-TOPUP Detail screen, click Transaction Details tab.
   The Transaction Details are displayed.

   Figure 3-4 Policy Transaction-TOPUP Detail_Transaction Details Tab

   
   

   
   Description of "Figure 3-4 Policy Transaction-TOPUP Detail_Transaction Details Tab"

   
   
2. On Transaction Details Tab, specify the fields.
   For more information on fields, refer to the field description table.

   Table 3-3 Transaction Details - Field Description

   Field	Description
   Details	This section displays the following details.
   Transaction Currency	Alphanumeric; 3 Characters; Mandatory When different currencies have been used in payment details, then you are required to enter the transaction currency. If you do not, then the system will default the corresponding Plan (or Policy) base currency from the Policy details record as the default transaction currency. If all the transaction currencies used in payment details are the same, then the system will default the same currency. You can change it to a transaction currency of your choice.
   Currency Name	Display The system displays the name of the selected transaction currency.
   Transaction Date	Date Format; Mandatory Specify the date for the transaction. You can enter a backdated transaction here, if backdated transactions are allowed in the corresponding product. If backdated transactions are not allowed, then this date must not be earlier than the Application Date. The system supports future dated policy transactions. Therefore, you can enter the transaction date of a policy greater than the system date.
   Transaction Entry Date	Date Format, Mandatory The Transaction Entry Date signifies the date on which the transaction is entered into the system. By default, the application date is displayed in this field, and it cannot be altered.
   Transaction Mode	Mandatory Select the mode of transaction from the drop-down list. The list displays the following values: Amount Unit Percent
   Balance Transfer	Optional Select if the balance has to be transferred or not from the drop-down list. The list displays the following values: Yes No
   Transaction Amount	Numeric, 30 Characters; Optional Specify the investment amount of the transaction.
   Top Up Inclusive?	Mandatory If the transaction is a top up transaction, select Yes box to indicate that it must be an inclusive top up transaction. When a top up is inclusive, the top up amount is considered immediately for the next annuity payment. If it is an exclusive top up, the top up amount is not considered for annuity payments till after the first anniversary date.
   Funding Percentage	Numeric; 5 Characters; Optional The funding factor that is applicable to Policy transactions in this product, which would have been set up at Product definition level, is displayed here. You can override this value at this stage. This must be expressed as a percentage and cannot exceed one hundred percent.
   Include Interest in Investment	Optional Select, from the adjoining drop-down list, if the interest earned on the initial investment should be considered along with the initial investment for investment in the policy. If you select Yes, the interest amount will be included in the investment and a single transaction will be generated for both. You need to manually add the interest amount calculated in the settlement details to the transaction amount of the particular currency in the asset allocation details. For instance, if the interest amount is USD 1000 and the transaction amount is USD 100000, then you are required to add USD 1000 to the transaction amount for the currency USD in the asset allocation details. If you select No, the interest amount will be generated as a separate UT transaction.
   Phase In To Be Cancelled	Alphanumeric; 16 Characters; Optional You could choose to cancel all, none or specific IDs of the active Phase-In setup.
   Sub Type	Alphanumeric; 3 Characters; Mandatory Specify the sub type of transaction.
   Sub Type Description	Display The system displays the description for the selected sub type of transaction.
   Interest Amount	Display The system computes the interest amount based on the interest calculation days and interest rate provided by you in the Interest Calculation Screen (explained below).
   Transaction Category	Alphanumeric; 1 Character; Optional Specify the transaction category from the option list.
   Description	Display The system displays the description for the selected transaction category.
   Remarks	Alphanumeric; 255 Characters; Optional Specify remarks, if any.
   Exchange Rate Details:	The policy transaction currency can be different from the base currency of the policy. In this section, you can maintain the details related to the exchange rate to be used for currency conversion.
   Amount Applied	Display The amount calculated based on the exchange rate specified gets displayed here, after the calculation.
   Source ID	Alphanumeric; 6 Characters; Optional Specify the source from which the exchange rate is obtained or select the source ID from the option list provided.
   FX Deal Date	Date Format; Optional Specify the FX deal date.
   Exchange Rate Applied	Numeric; 21 Characters; Optional The exchange rate corresponding to the combination of policy base currency and policy transaction currency gets displayed here. The exchange rate for a top-up transaction will be between the transaction currency and policy base currency.
   Override Exchange Rate?	Optional Select the option to indicate if you wish to override the exchange rate that gets defaulted. Select Yes to indicate that you wish to override the exchange rate and No to indicate otherwise.
   FX Value Date	Date Format; Optional Specify the FX value date.

3. Click the Enrich button to calculate the amount using the exchange rate specified.
   The interest amount associated with the policy transaction also gets converted to policy base currency based on the exchange rate specified.