Corporate Settlement Account Adjustments

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Settlement Account Corrections



This tool allows your back office staff to post a member account adjustment where the member is one corporation but the G/L is in another corporation. This tool is available only for credit unions that use the multi-corp features of CU*BASE to process for multiple credit union corporations.   (To access this tool, on the Home Page click the Custom button at the top of the screen.) You can also access this screen by selecting Tool #544: Multicorp Settlement Adjustment.)

On the initial screen, enter an account number.  If Name ID is activated, you will need to enter the Name ID of the member.  Learn more about Name ID configuration. Then press Enter to display the second screen.

This feature works similar to the regular Member Account Adjustment system, except it is used in cases where you need the adjustment to be posted across corporations, using the configured corporate settlement G/L (999xx).

To choose a Transaction Type code, click the lookup button images\magnifyingglasslookup_shg.gifnext to the Type field and choose from the list of codes that are appropriate for the account you are working with.

After entering the amount, description, and G/L accounts, use Enter to see the recap at the bottom of the screen, to verify that the proper accounts are being debited and credited. You can make changes now and use Enter again as many times as needed.

When ready, use F5-Post Error Correct to post the adjustment to the member and the general ledger.


In the following example, the member belongs to corporation 19, and the adjustment is to correct an incorrect deposit amount that was posted to teller over/short a few days ago.