FLEX Ten Automatic Transfer Maintenance

FLEX Ten FLEX Ten Member Services FLEX Ten Automatic Transfer Maintenance

This document provides technical guidance for users of the FLEX system on how to utilize the Automatic Transfer Maintenance feature to schedule and manage recurring transfers for members.

1. Introduction to Automatic Transfer Maintenance

The Automatic Transfer Maintenance module in FLEX is designed to facilitate the scheduling of recurring transfers for member accounts. This feature streamlines the process of setting up regular payments or transfers, reducing manual intervention and ensuring timely transactions.

2. Accessing Automatic Transfer Maintenance

To access the Automatic Transfer Maintenance module:

  • Navigate to the FLEX Main Menu.
  • Select Transfers.
  • Click on Automatic Transfer Maintenance.

3. Managing Existing and New Transfers

Upon accessing the Automatic Transfer Maintenance screen, you will see a list of all existing transfers.

  • To Edit an Existing Transfer:
    • Double-click on the desired transfer from the list.
  • To Add a New Transfer:
    • Click the ‘+’ button.
  • To Search for a Specific Account:
    • Enter or search for a specific account number in the provided field.

4. Transfer Details Configuration

When adding or editing a transfer, you will configure various details across several sections:

4.1. General Transfer Settings

  • Transfer Amount: The amount to be transferred.
  • Allow Partial Transfers:
    • Yes: Allows the system to process a partial transfer if the full amount is not available.
    • No: Requires the full transfer amount to be available for the transaction to proceed.
  • Partial Amount: (Applicable if “Allow Partial Transfers” is set to Yes) The maximum partial amount that can be transferred.
  • Sequence Number: A unique identifier for the transfer.
  • Posting Log: Provides a record of transfer postings.

4.2. From Account Details

This section defines the source account for the transfer.

  • General Ledger Account: Option to select a General Ledger account as the source.
  • Account: The member’s account number from which funds will be transferred.
  • Sub-Account: The specific sub-account within the member’s account (e.g., 1-REGULAR SHARE).
  • Name: The name associated with the “From Account.”
  • Transaction Description: A brief description of the transaction.
  • Override Available Funds:
    • Yes: Allows the transfer to proceed even if available funds are insufficient, potentially leading to an overdraft.
    • No: Prevents the transfer if available funds are insufficient.
  • Reg D Transfer: Indicates if the transfer is subject to Regulation D limits.
  • Overdraft Repayment Plan: Specifies if the transfer is part of an overdraft repayment plan.

4.3. To Account Details

This section defines the destination account for the transfer.

  • General Ledger Account: Option to select a General Ledger account as the destination.
  • Account: The member’s account number to which funds will be transferred.
  • Sub-Account: The specific sub-account within the member’s account (e.g., 322-Loan Test).
  • Name: The name associated with the “To Account.”
  • Transaction Description: A brief description of the transaction.
  • Use Loan Payment Amount:
  • Yes: Automatically uses the loan’s scheduled payment amount for the transfer.
  • No: Allows a custom transfer amount to be entered.
  • Consider Loan Due Date: If checked, the system will consider the loan’s due date when processing the transfer.

4.4. Posting Parameters

This section defines the schedule and grouping for the automatic transfer.

  • Payment Frequency: How often the transfer will occur (e.g., Weekly).
  • Start Date: The date on which the automatic transfers will begin.
  • Stop Date: The date on which the automatic transfers will cease.
  • Posting Group: A category or group for organizing transfers.

4.5. Internet Banking Configuration

This section controls the member’s access and maintainability of the transfer via internet banking.

  • Member Maintainable:
    • Yes: Allows the member to view and potentially modify the transfer through internet banking.
    • No Access: Prevents the member from viewing or modifying the transfer through internet banking.

5. Posting History

The system automatically updates the posting history as transfers occur. No manual entry is required in this section.

  • Last Post Date: The date of the most recent transfer posting.
  • Number of Times Posted: The total count of times the transfer has been posted.

6. Automatic Transfer Worksheet and Posting

Before posting transfers, FLEX recommends generating a worksheet to verify the upcoming postings.

  • Worksheet:
    • Click the Worksheet button to generate a preview of all postings that will occur based on the effective date of the transfer.
    • It is highly recommended to run this worksheet prior to posting to ensure accuracy.
  • Post:
    • Once the worksheet has been reviewed and verified, click the Post button to initiate all transfers based on the effective date entered.