Editing Closures 

Prerequisite

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.

Procedure

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      1.      Select a notice reason.

      2.      Decide whether you want correspondence created.

      3.      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.

Event 0005 (Planned Account Closure) is set on the account as a result 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.

Event 0005 (Planned Account Closure) is not set on the account as a result 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

      4.      If the balance from the account closure is to be settled in cash, set the Cash Settlement indicator.