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Monthly savings

Monthly savings can be used to generate deposit transactions with a Not finished status into portfolios based on a schedule defined in the portfolio details. Those transactions can then either be manually updated to the "Accepted" status once the client has done a manual payment or collected using direct debit. Make sure the setup is done first: Set up monthly savings.

Note

To use this functionality, you need the PAY_MW role.

Defining monthly savings parameters on portfolios

If you wish to generate monthly savings deposits into client portfolios, you first need to define what kind of payment schedule to use in each of the portfolios. To do this:

  1. Open the portfolio window by double-clicking the portfolio on the Overview or the Portfolios view.

  2. Select the Monthly savings tab.

  3. Make the relevant selections.

    portfolio_monthly_savings.png

    Example of a Portfolio's Monthly Savings settings

    1. Select Enable monthly savings.

    2. Set a Monthly savings amount, that is how much the client wants to invest each month (in portfolio currency).

    3. Set a Payment date, that is on which day of the month the deposit should be done.

    4. Optionally, define a Start and/or End date during which the monthly savings are enabled.

    5. Select the months in which there should be a deposit at the selected Payment date.

    6. In addition, you can Invest your deposit according to your investment plan, if you have defined Investment plans on portfolios and uploaded the Auto invest decision table (see Automatically invest deposits according to investment plan).

    7. If you are using Nets Avtalegiro direct debit payments in Norway, you can select the Avtalegiro registration done checkbox to track if the portfolio is registered for Avtalegiro or not.

Generating monthly savings transactions

Once you filled in the details on the portfolios, you can run monthly savings transactions from the Portfolios view. Search for the relevant portfolios and choose Payments → Generate monthly savings transactions. Depending on the configuration, this will either automatically generate the transactions that should be generated on the current day, considering the selected date and months on the portfolio as well as the day advance and other settings in the (Set up monthly savings configuration, or show a date selection window like the one below.

monthly_savings_date_selection.png

If you see the date selection, choose the Start date and an End date and click Done.