Adjust a fees payable payment run

Adjust a fees payable payment run

There may be instances where a finance company would like to adjust the amount paid to the parties and not pay the full amount as has been calculated by the automated payment run. Payment runs can only be adjusted if they have not already been processed i.e. payment run status is not “Paid” or “Cancelled”.

The amount payable can either be the full calculated amount or zero. It is not possible to allow ad hoc amounts as the payment amounts paid by each investor needs to be reported in the BAS report and refunded for RITC. So adjusting to an ad hoc amounts we will not know how much applies to each investor.


1. To adjust the fees payable payment runs, log in to Clearmatch Fusion, select "fund control" or the asset class you want to adjusts the payments, and navigate to > Configuration > Organisational Structure > Fees Payable Payments  


 

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




3. The payment run details will be displayed showing  a breakdown of payment for each party (example custodian and trustees).




4. Selecting the party that you would like to adjust the payment for.



5. From the hamburger menu, click on the Actions menu > Adjust Payment Amount:



6. Adjust the amount you would like to pay the party. Can either be the full calculated amount or zero.



5. Click on the  button to complete the adjustment or select the  button to return to the previous screen.

When a payment amount is modified, the details are updated so the transactions and handled correctly and any unpaid amounts dealt with as overs and unders in the next payment run.





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