2.11 Process FCIS Entity Payment Maintenance Detail

This topic provides the systematic instructions to define the payment details for entities, which would be used for commission payments.

  1. On Home screen, type UTDENTPY in the text box, and click Next.
    The FCIS Entity Payment Maintenance Detail screen is displayed.

    Figure 2-24 FCIS Entity Payment Maintenance Detail


    Description of Figure 2-24 follows
    Description of "Figure 2-24 FCIS Entity Payment Maintenance Detail"

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

    Table 2-18 FCIS Entity Payment Maintenance Detail - Field Description

    Field Description
    Entity Payment Details The section displays the following fields.
    Entity Type Alphanumeric; 1 Character; Mandatory

    Select the type of entity for which the payment details are being defined.
    Description Display

    The system displays description of the specified entity type based on the details maintained at Single Entity Maintenance level
    Entity ID Alphanumeric; 12 Characters; Mandatory

    Specify the ID for the entity for whom you are defining the payment details.
    Entity Name Display

    Based on your selection for Entity ID, the system displays the corresponding Entity Name.
    Payment Options The section displays the following fields.
    Next Payment Date Date Format, Mandatory

    When you are setting up the Payment Details for the first time, specify the next payment date on which the entity is to receive commission payment.
    Payment Frequency Alphanumeric; 1 Character; Mandatory
    Specify the frequency at which commission payment is to be processed for the entity. The following commission payment frequencies are available:
    • Daily
    • Weekly
    • Fortnightly
    • Monthly
    • Quarterly
    • Half Yearly
    • Yearly

    If the next payment date is 1st, June and Payment Frequency selected is Monthly, then the next payment date will be 1st, July.

    Payment Frequency Description Display

    The system displays description of the selected payment frequency.
    Last Processed Date Display

    The system displays the last date when the entity commission was processed.
    Last Payment No Display

    The system displays the payment number of the entity commission which was processed last.
    GST Applicable Mandatory

    Indicate whether GST is applicable or not for the entity. The rate maintained will get added to commission amount.
    GST Rate (%) Numeric; 5 Characters; Mandatory (If you have indicated GST Applicable)

    If you have made GST applicable, specify the GST rate as a percentage.

    GST applicable rate is for the entity payment
    Min Amount Reference Currency Alphanumeric; 3 Characters; Optional

    This indicates the currency of the minimum accrued amount that can be paid to the entity.
    Reference Currency Description Display

    The system displays currency name of the specified reference currency here.
    Min. Payment Amount (in Ref. Ccy) Numeric; 30 Characters; Optional

    Stipulate the minimum accrued amount that can be paid out to the entity.

    If the amount accrued for the payment period is less than the minimum amount specified, the system carries forward this amount to the next payment cycle.

    For instance, if the commission is set to 100 USD, and if the computed commission falls below 100 USD then there will not be any payout made, once the commission exceeds 100 USD for the corresponding payment, then the payout will be made including the residual commission which was not paid earlier.
    Mode of Payment Alphanumeric; 1 Character; Mandatory

    Select the mode of payment - Check or Transfer.

    Mode of Payment Description Display

    The system displays description of the selected mode of payment.
    Include Trailer Fee? Mandatory

    Select Yes from list to indicate that trailing commission in respect of the entity must be paid out using the payment details you have specified.

    Hold Back Payment? Mandatory

    Indicate if commission payment to the entity is to be held and not paid. If you select Yes from the list, then all commission accrued is carried forward to the next cycle.

    Payment Currency Alphanumeric; 3 Characters; Mandatory

    Specify the payment currency. The adjoining option list displays all valid payment currencies maintained in the system. You can choose the appropriate one.
    Payment Currency Description Display

    Upon selection of the payment currency, the system displays the description of the specified payment currency.