Add a savings account product
Prerequisites
The interest plan that you want to use must already exist on the Pismo platform. For more information, refer to Manage interest plans.
To add a savings account product:
- From the main menu, select Setup > Deposit products.
- On the Deposit products screen, select Create.
- On the Select Deposit product type screen, select Savings account and select Next.
- On the Create your savings account product screen, enter a descriptive name for the product in the Name field.
- In the Interest plan menu, select the interest plan that you want to use and select Next.
- On the Attach processing codes screen, enter the processing codes (by name or by ID) to be used in the following cases:
- Interest processing code: Used for crediting accrued interest to this product.
- (Optional) Withholding tax processing code: Used for calculating tax withholding for this product.
- Select Next.
- On the Review screen, verify that the information you provided is correct, then select Finish.
Activate the deposit product
A deposit product is created with the initial status Created, but can't be used until it is activated. To activate a deposit product, do the following:
- On the Deposit products screen, select the deposit product.
- On the details screen, select the status button and choose Active.
- In the Update status dialog, enter a reason for the change and then select Yes.
Updated 9 days ago