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Account Closure


If the relationship with the client has ended, it is necessary to reflect this in the system as well. Objects such as portfolio, contract, and account should be closed. At the current moment, the system does not have a process for closing the entire Portfolio or Account via one click. Therefore, this document will show how to manually close all the objects.

Steps to close Portfolio

If the contract with the client is terminated, the following steps need to be taken:

  1. Calculate management fees (if applicable).

  2. Close the Mandate with the termination date of the last operation that should be included in the calculations.

  3. Close the Bank Accounts with the same date.

  4. Change the portfolio status to "Closed."

1. Close Mandate

Indicate Agreement Termination Date and set status to “Terminated“

The start and termination dates of the contract are crucial for generating reports. For example, when generating annual reports for a company, portfolios that were active during the reporting period are selected. A portfolio is considered active within the period from the "Agreement Start Date" to the "Termination Date."

2. Close Bank Accounts

Indicate Close date and set status to “Closed“

The start and closure dates of the bank account are crucial for generating reports. If you need reports by active bank account it is considered active within the period from the "Opening Date" to the "Closing Date".

3. Close Portfolio

Set Portfolio Status as “Closed“

Help Notes

Where I can get related Mandate?

A. Find Mandate through the Mandate Page. Use Mandate Name or Account Name as a filter

B. To get Mandate Name open Portfolio list, add Mandate name column

Where I can get related Bank Accounts?

  1. Open Portfolio List, add Bank Account Names as a column,

  2. Open Bank Account by clicking on the link or find it in the Bank Account list using the Namw filter or Account

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