Sett of Accounts - How To

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Sett of Accounts - How To

Postby ajaysaini » Fri Nov 30, 2012 4:18 pm

Dear All ,

What is Sett of Accounts

The actual settlement of funds and securities shall be done by the broker, at least once in a calendar quarter or month, depending on the preference of the client. While settling the account, the broker shall send to the client a ‘statement of accounts’ containing an extract from the client ledger for funds and an extract from the register of securities displaying all receipts/deliveries of funds/securities. The statement shall also explain the retention of funds/securities and the details of the pledge, if any.

Option Name : Financial >> Sett of Accounts

1. Enter A/c Sett of Date : Current Date
2. Holding Date : Current Date For Calculating Security /Demat Shares Value .
3. Closing Rate Date : Last Closing Rate file import date.
4. Non Trading Since Days : To see non trading clients for specific days even balance is debit/Credit/Nil.
These clients can be sett of because clients are not active for that specific period and credit a/c are settled by paying payments and demand generating for debit balance.

5. Margin Date : Last Margin Import date .
6. Addl. Margin % : For calculation of additional margin on Margin specified date. Require for retention of actual+ 75% of Margin.

7. Cash % (FO) : Purpose of this is to hold the balance from financial ledger of Margin . If clients financial balance is Rs. 50000.00 and Security/Demat balance is Rs. 200000.00 and margin on position is Rs. 50000.00 if percent given is 40% means its hold 40% from financial i.e. Rs. 20000.00 and 60% from Security/Demat balance i.e. Rs . 30000.00 .

8. Sett of Advance days : After settling clients, if any clients who will not comes in current settle period but comes after including sett of advance days .
9. Ignore benf. Holding from Margin benefits : If click on it than its not passing demat shares benefit hold in benf. A/c for settle of accounts.
10. Ignore future dated debits : If click on it than its not adjusting future dated balances > account settle date.
11. Ignore Security Account Balance /Security Shares : If click on it than its not passing benefit of security deposit Account/Shares for settle of accounts.

After Defining These parameters click on calculate Button.

After calculating you can see credit /Debit /Zero and non trading Clients separately. For settle of accounts you have to click on settle for sett of accounts.
1. Now you can settle first zero balance clients.
2. For credit balance clients you have to pay cheque and deliver securities on client account on same day for issuance of cheque you can also create bank payment voucher from sett of accounts option by change Auto Voucher posting Yes .
3. You can also settle debit balance accounts by click on settle if you wants to sett of debit accounts.

After Settling Clients you have to email /Print Financial Ledger/Demat Ledger/Security Deposit Ledger/Share Ledger


With Regards

Shilpi Support Team
ajaysaini
Shilpi Support
 
Posts: 37
Joined: Sat Jul 21, 2012 3:33 pm

Re: Sett of Accounts - How To

Postby gopalsahu » Mon Jan 21, 2013 3:15 pm

Dear Sir or Madam as u put an example in point no.7 about equity holding, can u throw some light on Commodity position & sett of.
Before to this pls understand my concern :-

1. client funded me on dated 01 nov 2012.
2. client started trading on 16 nov 2012.
3. client cut off his all position on dated 22 dec 2012 & as on present date (21 jan 2013) client is not doing any business with us
and we have some credit balance in client ac.

pls help me that how i do sett of accounts through Shilpi.

For 90 days i consider the 01 nov 2012 or 16 nov 2012 or sett of the a/c as on fix dates like 31 march , 30 june, 30 sep.........


thanks
gopalsahu
Registered User
 
Posts: 1
Joined: Thu Oct 11, 2012 12:02 pm

Re: Sett of Accounts - How To

Postby ajaysaini » Wed Jan 23, 2013 11:18 am

Dear Sir,

Please make a cheque of balance payment for sett of client account as he is not doing further business with you. If client is doing trade with you than you can take margin+75% of Margin and after that balance amount you have to paid.

Regards
Shilpi Support
ajaysaini
Shilpi Support
 
Posts: 37
Joined: Sat Jul 21, 2012 3:33 pm

Re: Sett of Accounts - How To

Postby RAJEY » Fri Jan 25, 2013 12:02 pm

Dear sir,

If client's settl. amount is Rs. 76,939.59/- after retaining 75% addl. margin and we wish to make a payment in round of 10k, says 80,000/- in said case. How we can settl. it with help of sett of account option, since we are unable to give excess amount of settl. through capex10's sett of account option.

Rejesh
ajaysaini wrote:Dear Sir,

Please make a cheque of balance payment for sett of client account as he is not doing further business with you. If client is doing trade with you than you can take margin+75% of Margin and after that balance amount you have to paid.

Regards
Shilpi Support
RAJEY
Registered User
 
Posts: 1
Joined: Fri Nov 02, 2012 3:06 pm
Location: New Delhi


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