Process a fees payable payment run - pay the parties

Process a fees payable payment run - pay the parties

When a payment run has been created either automatically or manually the status of the run will be "Pending", indicating that it is available for review. Once reviewed the payment run will need to be generated in order to make the payment to the relevant parties bank accounts. Once processed, direct credit bank submissions will be generated so that the next time the banking is done and the direct credit files sent to the bank, the investors will be paid.

It is VERY IMPORTANT that parties are paid through the payment run. 

1. To process a payment run, log in to Clearmatch Fusion, go to "Fund Control" and navigate to > Home Pages > Investing > Investor Payments  



 

2. Select the payment run that you would like to view from the list.




3. Once selected, click on the Actions menu > Process Payments:



4. Provide the relevant credentials by entering the Authorisation Code, the Supervisor Username and the Supervisor Authorisation Code:



5. Click on the  button to complete the processing of the payment run or select the  button to return to the previous screen.


The status of the payment run will be changed to “Paid”

When a payment run is processed, regardless if it is a payment run in an asset class for portfolio fees or a payment run in the fund control for funds under management, the below will take place in the fund control
  1. When the payments are processed a direct credit bank transaction amount will take money out of the warehousing entity bank account for the originator group product, into the bank account linked to the relevant parties (the bank account linked to the customer). In the case where an payment amount has been adjusted to be zero, nothing will take place for that party.
  2. A transaction will be placed in the DC bank control account for the warehousing Entity
  3. A transaction will be placed in the “Fees payable” control account for the warehousing Entity. The transaction type will be
    2. For Asset classes – “AdminFeePayable” 
    3. For Fund – “CashAdminFeePayable” 



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