1. Line Origination User Guide
  2. Funding
  3. Contract Tab
  4. Disbursement Sub Tab

8.12.10 Disbursement Sub Tab

The Disbursement sub screen records how the Line of credit payment is disbursed and records payments to third parties such as the Department of Motor Vehicles. This sub screen needs to be completed if there is an itemized disbursement.

To complete the Disbursement sub screen
  1. Open the Funding screen and load the application you want to work with.
  2. Click the Contract > Disbursement sub tab.
  3. In this section, you can perform any of the Basic Operations mentioned in Navigation chapter.
    A brief description of the fields is given below:

    Table 8-17 Disbursement

    Field Do this
    Disbursement section
    Validate Payee Check this box to validate payee.
    Description View the disbursement description.
    Number Specify the disbursement party’s number.
    Payment Mode Select the payment mode.
    Name Specify the company name.
    Account #

    Specify the account number.

    Note: If the organizational parameter UIX_HIDE_RESTRICTED_DATA is set to Y, this appears as a masked number; for example, XXXXX1234.

    Amount View the payment amount.
    Currency Specify the currency.
    ACH Account Type Specify the account type.
    Account #

    Specify the ACH account number.

    Note: If the organizational parameter UIX_HIDE_RESTRICTED_DATA is set to Y, this appears as a masked number; for example, XXXXX1234.

    ACH Bank Specify the bank number.
    ACH Routing # Specify the routing number.
    BIC Select the Business Identifier Code from the drop-down list. The list displays the BIC codes defined in the system.
    IBAN

    Specify the IBAN (International Bank Account Number). IBAN is used for identifying bank accounts across national borders with a minimal of risk of propagating transcription errors.

    Ensure that value entered satisfies the check-digit validation based on modulo 97. On save, system automatically validates the IBAN number length based on country code, characters, white spaces, and checksum. Validation is also done during posting non-monetary transaction (ACH Maintenance).

    You can maintain the IBAN length and other details required as per the country code in the user defined table (Setup > Administration > System > User Defined Tables).

    Note: IBAN for NL country code (IBAN_FORMAT_NL) is defined by default with length of IBAN as 18.

    Comment Specify a comment.
    Country Select the country.
    Address Line 1 Specify the address line 1.
    Address Line 2 Specify the address line 2.
    Zip

    Specify the zip code.

    For non US country, you have to enter zip code.
    City Specify the city.
    State Select the state.
    Phone 1 Specify the primary phone number.
    Extn Specify the primary phone extension.
    Phone 2 Specify the alternate phone number.
    Extn Specify the alternate phone extension.
  4. Perform any of the Basic Actions mentioned in Navigation chapter.

    Disbursement tab will display the records only if a third party itemization is maintained during contract setup.

Parent topic: Contract Tab