Deposit Accounts

The Deposit Accounts module manages savings accounts, fixed deposits, and current accounts — from account opening through daily transactions to account closure.

Navigation: Deposit Accounts → Operations

Sub-Pages

Page	Description
Accounts	View and manage deposit accounts
Blocked Funds	Manage fund blocks on accounts
Account Holds	View and manage account holds
Mandates	Standing orders and recurring instructions
EOD Processing	Deposit-specific end-of-day operations

Account List

The accounts table shows:

Column	Description
Account Number	Unique account identifier
Client Name	The account holder
Product	The deposit product type
Currency	Account currency
Balance	Current available balance
Status	Active, dormant, frozen, closed
Business Unit	The managing branch

Opening a Deposit Account

1. Navigate to Deposit Accounts → Operations → Accounts
2. Click Create Account
3. Fill in the form:

Field	Description	Required
Client	Select the client (must be approved)	Yes
Deposit Product	Select from configured products	Yes
Opening Balance	Initial deposit amount	Depends on product
Currency	Account currency	Yes
Business Unit	The branch for this account	Yes

4. Submit the form

The account inherits all configuration from the deposit product — interest rate, minimum balance, dormancy rules, etc.

Transactions

Deposits (Cash-In)

1. Open an account
2. Click Deposit
3. Enter the amount and transaction details
4. Submit — the account balance increases and a GL journal is created

Withdrawals (Cash-Out)

1. Open an account
2. Click Withdraw
3. Enter the amount
4. Submit — the system validates against available balance and withdrawal limits

Transfers

Transfer funds between deposit accounts within the same branch or across branches.

Blocked Funds

Blocked funds are amounts within an account that are reserved and cannot be withdrawn. Common uses:

• Loan collateral — Blocking a portion of savings as security for a loan
• Regulatory holds — Court orders or regulatory requirements
• Pending transactions — Reserving funds for pending operations

Creating a Block

1. Navigate to Deposit Accounts → Operations → Blocked Funds
2. Click Create Block
3. Select the account, amount, reason, and expiry date
4. Submit

Account Holds

Account holds temporarily restrict all transactions on an account. Unlike blocked funds (which reserve a specific amount), a hold freezes the entire account.

Mandates

Mandates are standing instructions for recurring operations:

• Standing orders — Regular transfers between accounts
• Direct debits — Automatic loan repayment deductions
• Sweep instructions — Auto-transfer excess balances

Creating a Mandate

1. Navigate to Deposit Accounts → Operations → Mandates
2. Click Create Mandate
3. Specify the source account, destination, amount, frequency, and dates
4. Submit

Interest Processing

Interest on deposit accounts is handled automatically through EOD Processing:

1. Accrual — Daily interest is calculated based on the product's interest method
2. Capitalisation — At the configured frequency, accrued interest is added to the balance
3. GL Posting — Interest accrual and capitalisation create automatic journal entries

Next Steps

• Loan Accounts — Manage the lending side
• EOD Processing — Daily batch operations