Loan Servicing User Guide

A.2.32 Master Account - Statement Consolidation Indicator Maintenance

While funding an application in Origination, there is a Statement Consolidation option to indicate if the system needs to generate consolidated billing statement at Master Account level along with details of all the associated accounts with same billing cycle and due day. If selected in Origination > Funding screen, the same option is propagated to Servicing.

The Statement Consolidation indicator can also be changed in Servicing to either Yes or No by posting ‘STATEMENT CONSOLIDATION INDICATOR MAINTENANCE’ (ACC_STMT_CONSOLIDATE_MAINT) non-monetary transaction in Customer Service >Maintenance > Transaction Batch Information section to facilitate consolidated statement generation at Master Account level.

Table A-131 To update Statement Consolidation indicator

Transaction	Parameters
STATEMENT CONSOLIDATION INDICATOR MAINTENANCE ACC_STMT_CONSOLIDATE_MAINT	TXN DATE Select the transaction posting date from the adjoining calendar.
STATEMENT CONSOLIDATION INDICATOR Select either Yes or No from the drop-down list to update the Statement Consolidation indicator flag in Customer Service > Account Details > Other section.
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

STATEMENT CONSOLIDATION INDICATOR MAINTENANCE

ACC_STMT_CONSOLIDATE_MAINT

TXN DATE

Select the transaction posting date from the adjoining calendar.

STATEMENT CONSOLIDATION INDICATOR

Select either Yes or No from the drop-down list to update the Statement Consolidation indicator flag in Customer Service > Account Details > Other section.

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, the Statement Consolidation indicator is updated in Customer Service > Account Details, Others section.

Parent topic: Nonmonetary Transactions