Combined Statement Creation: Examples of Special Cases
This document provides you with an overview of examples of schedules for the creation of combined statements in various constellations. All contracts involved each have the Combined Statement
feature:
Example 1
An account is added as a participant to a master contract. The master contract adopts the binding bank statement agreement of the account.
Date |
Master Contract |
Account |
|---|---|---|
January 1, 2008 |
The master contract is created. In accordance with the combined statement agreement of the master contract, creation of the combined statement is scheduled monthly, on the last day of the month. |
The account is created. In accordance with the binding bank statement agreement of the account, creation of the bank statement is scheduled monthly, always on 5th. |
January 5, 2008 |
No action |
A bank statement is created. |
January 10, 2008 |
The account is assigned as a participant to the master contract. The master contract adopts the binding bank statement agreement of the account. |
|
January 31, 2008 |
A combined statement is created. The combined statement contains the data of the account since the last bank statement creation on January 5, 2008. For more information about the scope of the data, see Combined Statement. |
|
Process flow of combined statement creation
Example 2
An account is added as a participant to a master contract in the future. The master contract adopts the binding bank statement agreement of the account.
Date |
Master Contract |
Account |
|---|---|---|
January 1, 2008 |
The master contract is created. In accordance with the combined statement agreement of the master contract, creation of the combined statement is scheduled monthly, on the last day of the month. |
The account is created. In accordance with the binding bank statement agreement of the account, creation of the bank statement is scheduled every 10 days, starting on January 5, 2008. |
January 5, 2008 |
No action |
A bank statement is created. |
January 8, 2008 |
The account is assigned as a participant to the master contract as of January 20, 2008 The master contract adopts the binding bank statement agreement of the account. |
|
January 15, 2008 |
No action |
A bank statement is created. |
January 20, 2008 |
Participation of the account in the master contract takes effect. |
|
January 25, 2008 |
No action |
Even though bank statement creation is due according to the bank statement agreement, none is created, as the master contract has adopted the bank statement agreement as of January 20, 2008. |
31.January 2009 |
A combined statement is created. The combined statement contains the data of the account since the last bank statement was created on January 15, 2008. |
|
Process flow of combined statement creation
Example 3
An account is added as a participant to a master contract. The master contract does not adopt the binding bank statement agreement of the account.
Date |
Master Contract |
Account |
|---|---|---|
January 1, 2008 |
The master contract is created. In accordance with the combined statement agreement of the master contract, creation of the combined statement is scheduled monthly, on the last day of the month. |
The account is created. In accordance with the binding bank statement agreement of the account, creation of the bank statement is scheduled monthly, always on 5th. |
January 5, 2008 |
No action |
A bank statement is created. |
January 10, 2008 |
The account is assigned as a participant to the master contract. The master contract does not adopt the binding bank statement agreement of the account. |
|
January 31, 2009 |
A combined statement is created. The combined statement contains the data of the account since January 10, 2008 (when the account was added). |
|
February 5, 2009 |
No action |
A bank statement is created. The bank statement contains the data of the account since the last bank statement was created on January 5, 2008.
This means that on this date, the data of the account from January 10, 2008 to January 31, 2008 is available both on the combined statement and on the bank statement. However, the data on the combined statement is for information purposes only. The legally binding data is output on the bank statement. End of the note. |
Note
Process flow of combined statement creation
Example 4
An account is added as a participant to a master contract. The master contract adopts the binding bank statement agreement of the account. Later, the account is removed from the master contract again.
Date |
Master Contract |
Account |
|---|---|---|
January 1, 2008 |
The master contract is created. In accordance with the combined statement agreement of the master contract, creation of the combined statement is scheduled monthly, on the last day of the month. |
The account is created. In accordance with the binding bank statement agreement of the account, creation of the bank statement is scheduled monthly, always on 5th. |
January 5, 2008 |
No action |
A bank statement is created. |
20. January 2008 |
The account is assigned as a participant to the master contract. The master contract adopts the binding bank statement agreement of the account. |
|
January 31, 2009 |
A combined statement is created. The combined statement contains the data of the account since the last bank statement was created on January 5, 2008. |
|
February 15, 2009 |
The account is removed from the master contract. The system calculates the next due date for the bank statement agreement based on the date on which the account was removed from the master contract (February 15, 2008). |
|
February 28, 2008 |
A combined statement is created. The combined statement contains the data of the account from January 31, 2008 (last combined statement creation) to February 15, 2008 (account removed). However, this data is purely for information purposes. The legally binding data is output on the bank statement. |
|
March 3, 2008 |
No action |
A bank statement is created. The bank statement contains the data since the last combined statement creation when the account was still participant of the master contract, meaning since January 31, 2008. This data is legally binding. |
Process flow of combined statement creation
Example 5
An account is added as a participant to a master contract. The master contract does not adopt the binding bank statement agreement of the account. Later, the account is removed from the master contract again.
Date |
Master Contract |
Account |
|---|---|---|
January 1, 2008 |
The master contract is created. In accordance with the combined statement agreement of the master contract, creation of the combined statement is scheduled monthly, on the last day of the month. |
The account is created. In accordance with the binding bank statement agreement of the account, creation of the bank statement is scheduled monthly, always on 5th. |
January 5, 2008 |
No action |
A bank statement is created. |
January 10, 2008 |
The account is assigned as a participant to the master contract. The master contract does not adopt the binding bank statement agreement of the account. |
|
January 25, 2008 |
The account is removed from the master contract. |
No action |
January 31, 2009 |
A combined statement is created. The combined statement contains the data of the account for the duration of its participation in the master contract (January 10 to January 25). However, this data is purely for information purposes. The legally binding data is output on the bank statement. |
|
February 5, 2008 |
No action |
A bank statement is created. The bank statement contains the data since the last bank statement was created on January 5, 2008. These details are legally binding. |
Process flow of combined statement creation
Example 6
An account is added as a participant to a master contract. The master contract adopts the binding bank statement agreement of the account. The account is closed while it is a participant of the master contract.
Date |
Master Contract |
Account |
|---|---|---|
January 1, 2008 |
The master contract is created. In accordance with the combined statement agreement of the master contract, creation of the combined statement is scheduled monthly, on the last day of the month. |
The account is created. In accordance with the binding bank statement agreement of the account, creation of the bank statement is scheduled monthly, always on 5th. |
January 5, 2008 |
No action |
A bank statement is created. |
January 10, 2008 |
The account is assigned as a participant to the master contract. The master contract adopts the binding bank statement agreement of the account. |
|
January 25, 2008 |
No action |
The account is closed. The account is automatically removed from the master contract.
When an account is closed, the system usually automatically creates a final bank statement. Since the master contract has adopted the binding bank statement agreement, no bank statement is created in this case. A combined statement is also not created at this time. End of the note. |
January 31, 2009 |
A combined statement is created. The combined statement contains the data of the account from the last bank statement creation on January 5, 2008 until the account closure on January 25, 2008. |
|
Process flow of combined statement creation
Example 7
An account is added as a participant to a master contract. The master contract does not adopt the binding bank statement agreement of the account. The account is closed while it is a participant of the master contract.
Date |
Master Contract |
Account |
|---|---|---|
January 1, 2008 |
The master contract is created. In accordance with the combined statement agreement of the master contract, creation of the combined statement is scheduled monthly, on the last day of the month. |
The account is created. In accordance with the binding bank statement agreement of the account, creation of the bank statement is scheduled monthly, always on 5th. |
January 5, 2008 |
No action |
A bank statement is created. |
January 10, 2008 |
The account is assigned as a participant to the master contract. The master contract does not adopt the binding bank statement agreement of the account. |
|
January 25, 2008 |
No action |
The account is closed. The account is automatically removed from the master contract. The system creates a closing bank statement. |
January 31, 2009 |
A combined statement is created. The combined statement contains the data of the account for the duration of its participation in the master contract (January 10 to January 25). However, this data is purely for information purposes. The legally binding data is output on the bank statement. |
|
Process flow of combined statement creation
Example 8
An account is added as a participant to a master contract. The master contract adopts the binding bank statement agreement of the account. The master contract is terminated while the account is a participant of the master contract.
Date |
Master Contract |
Account |
|---|---|---|
January 1, 2008 |
The master contract is created. In accordance with the combined statement agreement of the master contract, creation of the combined statement is scheduled monthly, on the last day of the month. |
The account is created. In accordance with the binding bank statement agreement of the account, creation of the bank statement is scheduled monthly, always on 5th. |
January 5, 2008 |
No action |
A bank statement is created. |
January 20, 2008 |
The account is assigned as a participant to the master contract. The master contract adopts the binding bank statement agreement of the account. |
|
January 31, 2009 |
A combined statement is created. The combined statement contains the data of the account since the last bank statement was created on January 5, 2008. |
|
February 15, 2008 |
The master contract is terminated. The system automatically removes the participating accounts from the master contract. |
No action |
No action |
The system calculates the next due date for the bank statement agreement based on the date of the master contract termination on February 15, 2008. |
|
A combined statement is created. The combined statement contains the data of the account since the last combined statement was created on January 31, 2008. However, this data is for information purposes only. The legally binding data is output on the bank statement. |
||
March 5, 2008 |
No action |
A bank statement is created. The bank statement contains the data since the last combined statement creation when the account was still participant of the master contract, meaning since January 31, 2008. This data is legally binding. |
Process flow of combined statement creation
Recommendation
We recommend that when you terminate a master contract, you do not use the Immediate Termination
indicator but have the system terminate the master contract in the context of end-of-day processing.
For more information, see Master Contract Termination.
Example 9
An account is added as a participant to a master contract. The master contract does not adopt the binding bank statement agreement of the account. The master contract is terminated while the account is a participant of the master contract.
Date |
Master Contract |
Account |
|---|---|---|
January 1, 2008 |
The master contract is created. In accordance with the combined statement agreement of the master contract, creation of the combined statement is scheduled monthly, on the last day of the month. |
The account is created. In accordance with the binding bank statement agreement of the account, creation of the bank statement is scheduled monthly, always on 5th. |
January 5, 2008 |
No action |
A bank statement is created. |
January 10, 2008 |
The account is assigned as a participant to the master contract. The master contract does not adopt the binding bank statement agreement of the account. |
|
January 25, 2008 |
The master contract is terminated. The system automatically removes the participating accounts from the master contract. |
No action |
A combined statement is created. The combined statement contains the data of the account for the duration of its participation in the master contract (January 10 to January 25, 2008). However, this data is purely for information purposes. The legally binding data is output on the bank statement. |
||
February 5, 2008 |
No action |
A bank statement is created. The bank statement contains the data since the last bank statement was created on January 5, 2008. These details are legally binding. |
Process flow of combined statement creation
Example 10
An account is added as a participant to a master contract. Initially, the master contract adopts the binding bank statement agreement of the account. This setting is later changed.
Date |
Master Contract |
Account |
|---|---|---|
December 31, 2007 |
A combined statement is created for an existing master contract in accordance with its combined statement agreement (monthly, on the last day of the month). |
No action |
January 5, 2008 |
No action |
A bank statement is created for an existing account in accordance with its bank statement agreement (monthly, on 5th). |
January 20, 2008 |
The account is assigned as a participant to the master contract. The master contract adopts the binding bank statement agreement of the account. |
|
31. January 2008 |
A combined statement is created. The combined statement contains the data of the account since the last bank statement was created on January 5, 2008. |
|
February 15, 2008 |
The value in the |
|
No action |
The system calculates the next due date for the bank statement agreement based on the date of the change on February 15, 2008. |
|
28. February 2008 |
A combined statement is created. The combined statement contains the data of the account since the last combined statement was created on January 31, 2008. |
|
March 5, 2008 |
No action |
A bank statement is created. The bank statement contains the data of the account since the last combined statement was created on January 31, 2008. |
Process flow of combined statement creation
Example 11
An account is added as a participant to a master contract. Initially, the master contract does not adopt the binding bank statement agreement of the account. This setting is later changed.
Date |
Master Contract |
Account |
|---|---|---|
December 31, 2007 |
A combined statement is created for an existing master contract in accordance with its combined statement agreement (monthly, on the last day of the month). |
No action |
January 5, 2008 |
No action |
A bank statement is created for an existing account in accordance with its bank statement agreement (monthly, on 5th). |
January 20, 2008 |
The account is assigned as a participant to the master contract. The master contract does not adopt the binding bank statement agreement of the account. |
|
January 31, 2008 |
A combined statement is created. The combined statement contains the data of the account since January 10, 2008 (when the account was added). However, this data is purely for information purposes. The legally binding data is output on the bank statement. |
|
February 5, 2008 |
No action |
A bank statement is created. The bank statement contains the data of the account since the last bank statement was created on January 5, 2008. This information is legally binding. |
February 15, 2008 |
The value in the |
|
February 28, 2008 |
A combined statement is created. The combined statement contains the following data of the account.
|
|
Process flow of combined statement creation
Recommendation
We recommend that if you change the Adopt Binding Agreement
field, you only do so as of the due date of the combined statement agreement + 1.