Process of Entering Stock Statements

On account Opening

1.     Use option LODGE

2.     Enter correct values for all fields on General Tab

3.     Give Stock value on Net Value Tab.

4.     Particular Tab

a.     Review Date – Give next month end date of the month for which Stock Statement is received  (for e.g. a/c opened in January 16 with Stock Statement of 31^st December 2015 give Review Date as 31^st January 2016)

b.    Due Date – will be arrived by adding grace period to stock statement date. If in above case grace period is 10 days the due date will be 10^th January 2016. If grace period is 20 days then due date will be 20^th January 2016.

c.     Received Date- Date when stock statement is received from borrower.

d.    Apply Penal Interest – Should be ticked

e.     Frequency for Statement- Depends on frequency of stock statement. If stock statement is to be submitted monthly before 10^th of next month then frequency will be

|Monthly|  |  | 10|Next day or Previous day|

On receipt next stock statement (For 31^st January 2016)

1.     Use option SUBSTITUTE

2.     Go to Net Value Tab and update stock value as per stock statement received

3.     Go to Particulars Tab –

a.     Update field Review Date as 29^th February 2016 (next month end date of the month for which Stock Statement is received)

b.    Update Received date (Date on which stock statement is received)

c.     Due Date will be auto populated by system as per Due Date and Frequency given at time of lodgement of 1^st Stock Statement. (In the current case Due Date will be 10^th February 2016)

On receipt of three stock statements after gap of few months

After stock statement of 31^st January 2016 borrower submits stock statement of 29^th February 16, 31^st March 2016 and 30^th April 2016 on 10^th May 2016.

1.     Use option SUBSTITUTE and fist update stock statement of 29^th February 2016 with received date as 10^th May 2016.

2.     Get this entry verified

3.     Again use option SUBSTITUTE and update stock statement of 31^st March 2016 with received date as 10^th May 2016.

4.     Get this entry verified

5.     Now again use option SUBSTITUTE and update stock statement of 30^th April 2016 with received date as 10^th May 2016.

6.     Get this entry verified

If user has updated wrong stock value

1.     Use option MODIFY

2.     Select the record for correction

3.     Go to Net Value Tab and update correct stock value as per stock statement received

If user has wrongly entered stock Review date/ Due Date

1.     Use option MODIFY

2.     Select the record for correction

3.     Go to Particulars Tab and tick ‘Withdrawal’

4.     Verify

5.     Use option LODGE to enter the stock statement again with correct Review Date/Due Date

On modification of Terms and Conditions on Review of account

1.     Use option MODIFY

2.     Go to General Tab and change the values of Ceiling Limit, Margin etc. as per fresh sanction

If stock is entered through limit node

1.     Withdraw all active stock statements attached to account

2.     Lodge fresh stock statement with linkage type as LIMIT NODE along with LIMIT ID

3.     Establish proper link between the account and limit node (Attach Limit Node to account using menu HACLHM / ACLHM – Drawing power Indicator as P and Limit ID of Limit tree for this account)

Source : from mail of bank of baroda