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Savings Withdrawal - Transaction Information

The Savings withdraw - Transaction Information screen enables you to enter the withdraws transaction information and will also display the savings transaction history for the client.

How to enter a Savings Withdrawal

To enter a client’s savings withdraw you go to Savings->Withdraw and a screen appears which looks like the one below:

• Account No.: Enter the account number in this textbox, e.g., "KA/I/000004" and click on the Next button to continue. A withdraw dialog will be displayed with the corresponding account holder’s name and all former transactions will be displayed. This screen has two tabs: Transaction Information and General Account Information. The transaction information tab displays the screen where the actual withdraw information should be entered and the general tab displays the general information about the client like photos, signature and ID documents.

• Note: You can therefore activate the system to generate receipts that have the details of the denomination used in the savings transactions (Deposits and withdrawals) under System Configuration\Configuration\Savings Accounts Settings and check the options "The different currency notes to the client must appear on the withdrawal slip" and/or "The client's different currency notes must appear on the deposit slip". Depending on the policy.

• Account name: This field will automatically be populated with the selected client account number, e.g., "KA/I/000001"
• Product: Select a saving product item from the drop-down list, e.g., “Free Savings”. A savings transaction has to be attached to a specific savings product that is selected from the product drop-down list box. The available products should have been configured under Systems ->Configurations ->Products menu.
• Maximum negative balance:This is the amount below which the transaction will not be allowed. It will automatically be populated for the chosen client's account. This is should have been set at Savings ->Overdrafts ->Set Overdrafts.

At entry of savings Savings Withdrawal, Loan Performer will not allow you to withdraw amounts below the minimum balance unless the Overdraft Protection? option has been de-activated at the menu System->Configuration->Savings->Savings Accounts Settings.

• Currency: Select the transaction currency from the drop down list, e.g., "UGX".
• Date and Time: Enter the transaction date in this date box, e.g., “11/10/2022”
• Description: Enter the description of the transaction, e.g., "Savings withdraw".
• Voucher: Enter the voucher number, e.g., "0012".
• Amount: Specify the amount of money being withdrawn from the account e.g., "348,500/=".
• Stationery: Enter the stationery charges if any
• Commission: Enter the commission charges if any
• Penalty paid: Enter the Penalty paid charges if any
• Late withdrawal charge: Enter the Late withdrawal charge charges if any
• Charges on withdrawals: For this charge to appear here it should have been defined under System Configuration/Savings/Savings Charges
• Specify the mode of payment by checking the appropriate option button, e.g., "Cash".

Click on the Save button to complete the transaction and then click on the appropriate command buttons for each subsequent dialogs that appear before the withdraw dialog exits.

You can view the savers statement to see the clients balance and what has been withdrawn.

Related Topics

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