Miscellaneous Secured Funds (2)

Screen ID: 

Screen Title: 

Panel Number:

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USCMS-02

Miscellaneous Secured Funds

4798


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Access this screen through after entering an account base and suffix on the previous screen.

This is the first of two screens used to secure funds on an account. (This screen appears after entering an account base and suffix on a prior screen.) Funds can be secured on savings, checking, and certificate accounts, as well as on LOC loan accounts such as credit cards.

The primary purpose of allowing secured funds on an open-credit loan is to allow for credit card authorizations received from Certegy or other credit card processor to temporarily hold funds in the loan account, reducing the available credit limit, so that future authorizations do not spend the same money again. When the actual purchase transaction comes in, the matching Misc. Secured Funds record will be deleted automatically, or the record will be purged after a certain number of days (usually 2) if the transaction never actually comes in.

The secured amount will be subtracted from the current balance on the account when calculating the available balance for various inquiry screens. Funds will not be available for withdrawal until the secured record is manually deleted.

Examples:

This is similar to the uncollected funds feature, except that secured funds are held for an indefinite period of time and will only be released automatically for certain types of automated authorization records (such as debit or credit card authorizations). For all other types, you must return to these screens and delete the record after the funds no longer need to be secured.

IMPORTANT: If you wish to use share funds as security on a loan account, use the Pledged Shares3290g feature instead (part of the Update Misc. Loan Information system). The Pledged Shares feature links the share account to the loan, so that funds can be released automatically as the loan is paid down.

Field Descriptions

Field Name

Description

Activity Date

The date the activity happened. 

Origin

A code indicating where this record originated. 01 is used for all records manually created using these screens (16=Debit Card Processing; 22=Online Credit Card processing).

Description

A description of this record, such as why the funds are being secured.

Amount

The amount of funds that are being held on this account.

Card number

(Applies to debit card and credit card authorizations ONLY.) The card number for this transaction.

Drop Date

The date on which this record will automatically be deleted and the funds released.

Last Maintained

The date on which this record was last maintained.

 

Link to ID: https://help.cubase.org/cubase/cubase.htm#USCMS-02.htm