Editing Closures

You are in the Close Account function on the Close Account screen, on the Closure tab page and have chosen either Create or Change mode.

Select a notice reason.
Decide whether you want correspondence created.
Enter the mode in which you want the account closure executed:
- Scheduled account closure
  You must have specified a planned closure date.
  
  The account closure is scheduled for the planned closure date and can be executed with the Execute Due Account Closures function.
  
  The system sets the 0005 (Planned Account Closure)event on the account as a consequence of the account closure.
- Immediate account closure
  The planned closure date must be the same as the current posting date for payment transactions.
  
  The account closure is carried out immediately by the Edit Due Account Closures function.
- Manual processing
  The account closure cannot be executed with the Edit Due Account Closures function.
  
  The system does not set the 0005 (Planned Account Closure)event on the account as a consequence of the account closure.
  
  The account closure is scheduled for the planned closure date and can be deactivated with the Execute Due Account Closures function. The deactivation date is calculated as follows:
  
  Deactivation date = planned closure date + grace period
If the balance from the account closure is to be settled in cash, set the Cash Settlement indicator.