Master Account Maintenance

A.2.33 Master Account Maintenance

While funding an application in Origination, there is option to categorize the current application to be considered as Master Account or link the current application to another existing master account in the system after funding. The selected option in Origination > Funding screen are propagated to Servicing. In Servicing, you can further maintain the linking of associated accounts to Master Account with following option:

Link/attach an account to Master Account
Moved a linked account from one Master Account to other
Remove/de-link an account from Master Account

The above actions can be performed by posting MASTER ACCOUNT MAINTENANCE(ACC_MASTER_ACCOUNT_MAINT) non-monetary transaction from Customer Service >Maintenance > Transaction Batch Information section.

Table A-127 To post Master Account Maintenance transaction

Transaction	Parameters
MASTER ACCOUNT MAINTENANCE ACC_MASTER_ACCOUNT_MAINT	TXN DATE Select the transaction posting date from the adjoining calendar.
ACCOUNT NUMBER Enter the account number which is to be Attached / Moved / Remove to/from a Master Account. Ensure that the current customer is linked to that account. System displays an error if there is a mismatch or an invalid account number is entered.
MASTER ACCOUNT NUMBER Enter the Master Account number to which the current account is to be linked.
MASTER ACCOUNT MAINTENANCE ACTION TYPE Select the action type to be performed from the drop-down list. You can select ADD / UPDATE / REMOVE to modify linking of current account to / from selected Master Account. VALIDATE COMMON CUSTOMER Select either Yes or No from the drop-down list to indicate the system to validate if there are any common customers between the current selected Account and Master Account. System does not allow to post the transaction if this option is selected as Yes and there are no common customer found during validation.
VALIDATE BILLING CYCLE AND DUE DATE Select either Yes or No from the drop-down list to indicate the system to validate if the current selected Account and Master Account have the same Billing Cycle and Due Day. System does not allow to post the transaction if this option is selected as Yes and the Billing Cycle and Due Day is found to be different during validation.
VALIDATE PORTFOLIO COMPANY Select either Yes or No from the drop-down list to indicate the system to validate if the current selected Account and Master Account belongs to the same portfolio company. System does not allow to post the transaction if this option is selected as Yes and the portfolio company is found to be different for both accounts during validation.
PROCESS LINKED ACCOUNTS Select either Yes or No from the drop-down list. If the parameters is set to Y while posting the transaction from Master/Linked/Associated Account(s), then based on the Maintenance Action Type parameter selected as Add / Update / Remove, system Adds, Updates, or Removes the Master Account # to Associated Account and its Linked Account respectively. On posting the transaction a comment is posted in Linked Account indicating ‘MASTER ACCOUNT # ADDED/REMOVED or UPDATED FROM {OLD MASTER ACCOUNT #} TO {NEW MASTER ACCOUNT #}’. Note: This parameter has no significance if the other parameter Process Master Associated Accounts is set to Y since system already processes all the Associated Accounts of the Master Account (Assuming Linked Account is also one of the associated account of Master). PROCESS MASTER ASSOCIATED ACCOUNTS Select either Yes or No from the drop-down list. Selecting Yes posts the transaction to Master Account and Associated Accounts and selecting No posts the transaction to Current Account.
PROCESS SAME PRODUCT TYPE AND FUNDING TYPE ACCOUNTS Select either Yes or No from the drop-down list. Selecting Yes posts the transaction to associated accounts where Product Type is equal to Current Account Product Type where this transaction is posted and selecting No posts the transaction to all the Accounts under a Master Account.
REASON CODE Selected the appropriate reason code for posting this transaction from the drop-down list.
COMMENTS Additional information (if any).

Transaction

Parameters

MASTER ACCOUNT MAINTENANCE

ACC_MASTER_ACCOUNT_MAINT

TXN DATE

Select the transaction posting date from the adjoining calendar.

ACCOUNT NUMBER

Enter the account number which is to be Attached / Moved / Remove to/from a Master Account.

Ensure that the current customer is linked to that account. System displays an error if there is a mismatch or an invalid account number is entered.

MASTER ACCOUNT NUMBER

Enter the Master Account number to which the current account is to be linked.

MASTER ACCOUNT MAINTENANCE ACTION TYPE

Select the action type to be performed from the drop-down list. You can select ADD / UPDATE / REMOVE to modify linking of current account to / from selected Master Account.

VALIDATE COMMON CUSTOMER

Select either Yes or No from the drop-down list to indicate the system to validate if there are any common customers between the current selected Account and Master Account.

System does not allow to post the transaction if this option is selected as Yes and there are no common customer found during validation.

VALIDATE BILLING CYCLE AND DUE DATE

Select either Yes or No from the drop-down list to indicate the system to validate if the current selected Account and Master Account have the same Billing Cycle and Due Day.

System does not allow to post the transaction if this option is selected as Yes and the Billing Cycle and Due Day is found to be different during validation.

VALIDATE PORTFOLIO COMPANY

Select either Yes or No from the drop-down list to indicate the system to validate if the current selected Account and Master Account belongs to the same portfolio company.

System does not allow to post the transaction if this option is selected as Yes and the portfolio company is found to be different for both accounts during validation.

PROCESS LINKED ACCOUNTS

Select either Yes or No from the drop-down list.

If the parameters is set to Y while posting the transaction from Master/Linked/Associated Account(s), then based on the Maintenance Action Type parameter selected as Add / Update / Remove, system Adds, Updates, or Removes the Master Account # to Associated Account and its Linked Account respectively.

On posting the transaction a comment is posted in Linked Account indicating ‘MASTER ACCOUNT # ADDED/REMOVED or UPDATED FROM {OLD MASTER ACCOUNT #} TO {NEW MASTER ACCOUNT #}’.

Note: This parameter has no significance if the other parameter Process Master Associated Accounts is set to Y since system already processes all the Associated Accounts of the Master Account (Assuming Linked Account is also one of the associated account of Master).

PROCESS MASTER ASSOCIATED ACCOUNTS

Select either Yes or No from the drop-down list. Selecting Yes posts the transaction to Master Account and Associated Accounts and selecting No posts the transaction to Current Account.

PROCESS SAME PRODUCT TYPE AND FUNDING TYPE ACCOUNTS

Select either Yes or No from the drop-down list. Selecting Yes posts the transaction to associated accounts where Product Type is equal to Current Account Product Type where this transaction is posted and selecting No posts the transaction to all the Accounts under a Master Account.

REASON CODE

Selected the appropriate reason code for posting this transaction from the drop-down list.

COMMENTS

Additional information (if any).

On successfully posting the transaction, a comment is posted on all involved accounts i.e. Master Account and Associated Account. For Add transaction new Master Account # is updated and for Update transaction, the existing Master Account # is replaced with Account# provided in Transaction Parameters.

In case of an error, the transaction is rolled-back from all the accounts.

Note:

If the primary customer of Master Account or linked account is deceased, on replacing the next primary account-relation, the accounts under decease customer have to be updated to new customer Master Accounts manually.

Parent topic: Nonmonetary Transactions