Support Center

Managing Deposit Products

Last Updated: Apr 26, 2016 12:10PM CEST

 

Edit a deposit product

Effects on deposit accounts

Activate and deactivate a deposit product

Delete a deposit product

 

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Edit a Deposit Product

If you need to make changes in a Deposit Product go to Administration > click on Deposit Products > click the Edit button next to the product you need to change > make the changes you need > click Save Product.

 

 

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Effects on deposit accounts

When you make any changes in a deposit product all the deposit accounts created under that product will be automatically updated as soon as you save the product.

 Exception: If changes are made to the Interest Rate, when saving the changes on the product you will be asked on which accounts should the new interest setting apply to:

Example: Suppose you had a Deposit Product with an interest rate of 3% that you now wanted to increase to 3.5%. If you choose to apply the new interest settings to "All Existing and New Accounts", the clients with deposit accounts under this product will all start getting a 3.5% interest rate after you change the product.

 

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Activate and deactivate a deposit product

If you're using the Community edition of Mambu, you can activate your deposit products in Administration > Deposit Products > click on Activate or on the red button next to the product you want to activate or deactivate them just by clicking on Deactivate.

If you're using other editions of Mambu and if you have Accounting switched on, before activating your deposit products you need to link them with your General Ledger Accounts as described in Product Rules. By doing this you're making sure that the transactions associated to your deposit products will be automatically logged in Accounting as they occur.

 

 

When you activate a product you'll see that the product's state changes and that the red dot turns green, showing the product is now activated.

 

 

When you deactivate a Deposit Product it will disappear from the list of products to offer to your clients, so you won't be able to create more accounts under that product.

In case you had active accounts using that product, they will remain active for he remaining term length.

 

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Delete a deposit product

To delete a deposit product go to Administration > click on the Delete button that corresponds to the product you want to delete > confirm you want to delete the product clicking Delete again.

 

 

You can only delete products which have no accounts associated to them. If there's at least one account in the state Active, Pending or Approved, Mambu will give you a warning message saying you can't delete the product before all its accounts are closed.

 

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