This tab provides the possibility to filter payments by period status, agreement etc.

Pressing the ‘Search’ button will launch the research and update the result list.

Below are the different statuses in chronological order:

Status Simulated: The payment/reinvestment exists with all the underlying calculations but one or more of the following reasons prevent the payment from progressing to the next status:

  • The calculation period is not yet terminated
  • There is only or more 4 eyes requests awaiting approval
  • Archived accrual
  • Awaiting Euroclear reconciliation
  • Awaiting provistion export
  • Missing contact information
  • Missing or non validated certificate(s)
  • Missing payment instructions
  • Missing reinvestment instructions
  • No fund base provided for a product
  • No hodling for this product in the portfolio (reinvestments only)
  • Missing debit account information
  • Pending holding transfer
  • The payment status of the agreement is not ‘payable’.
  • The payment/Reinvestment has been suspended

Status Draft: the payment/reinvestment is ready to be reviewed and validated. The user can modify manually the overall payment amount or default data (value date, forex etc.) which will not lead to an adjustment calculation. At this stage to progress the payment to the next stage the user needs to click on ‘validate’ or ‘validate selected’ if he has selected multiple payments.

Status Validated: the payment has been validated by a user. If for any reason the payment should not have been validated the user can click on ‘Undo validation’. To progress to the next step the user needs to click on ‘Authorise’ or ‘Authorise selected’.

Status Authorised: The payment is now ready to be sent out to the recipient. Only payments with status validated can be progressed to status ‘Authorised’. Validation and authorisation always needs to be done by different users.

The payment cannot be modified anymore in this status unless the user does press ‘Undo authorisation’.  

If beyond this stage the underlying calculation data is modified, an adjustment will be created. Adjustments have the same payment reference than the initial payment reference but carry an extension -1,-2,-3 etc.

Status Exporting: Only shown while export process is launched but not terminated or failed.

Status Payment In Error: The payment could not be sent as it encountered an error during sending process.

Status Statement In Error: The statement could not be exported as it encountered an error during sending process.

Status Payment Exported: Only the payment but not the statement has been exported.

Status Statement Exported: Both payment and statement have been successfully exported.

Status Paid: Payments IN: The user can progress the payment status from ‘Authorised’ to ‘Paid’ via le button ‘Paid` if all linked invoices have been settled (Invoices on status ‘Paid’).

Payments OUT: During the generation of the payment file, the payments status is automatically progressed to ‘Paid’.

Status actioned : reinvestments for whichreinvestment in the source class is impossible as there are no holdings anymore can be set to such status to indicate that appropriate action has taken place (payout etc)

Bulk actions: The user can select multiple items from the list for the same action (e.g. Validate/authorise/export etc). For better overview RCP will indicate the number of items which will be processed.

Accounting status for payments/reinvestment

In addition to the payment status, an accounting status is available for payments and reinvestments (for reinvestments please refer to relevant chapter). The status of payment is by default ‘not paid’or for a reinvestment is ‘not reinvested’. The status can be updated either via import or manually in the user interface. The manual update is only possible towards the status ‘paid’ or ‘reinvested’. To do so the user can use the appropriate button on the payment/reinvestment list. The button is only visible if the payment/reinvestment is already on status exported or further. A rollback is possible via the interface as well via the appropriate button on the payment/reinvestment list.

Force authorisation of negative payments

In some cases, negative payments can be absorbed by a reimbursement from the beneficiary of the overpayment. In other cases, the negative payment can never be solved due to bankrupty or no more holdings from the client etc.

In such case the user must be able to unblock the situation in RCP. For this purpose the button ‘Force authorisaton’. The button in the top bar allows to select multiple payments at the same time. The button in the payment line will only validate an individual payment.

Once one of the buttons has been activated, the user will be prompted to indicate whether the action is due to a reimbursement or not (default is on No). Once this is selected the payment status is progressing to ‘authorised’. The payment is shown with a special icon to indicate a manual intervention. A mouse-over will inform the user that the authorisation has been forced and whether this was due to a reimbursement or not.

The export of these payments will not trigger any money transfer. The payment export will indicate via flag that the authorisation has been forced.

Intra cycle payments

When all holdings are redeemed within the period, the accrued retrocession can be paid out prior to the end of the month ( or period). If a daily or end of period calculation is involved, a zero holding is assumed until period end. These payments will have to be above any minimum payment amount.

The precondition is that the only payment attribute which caused the payment to remain on status simulated is ‘period not expired’. If such condition is met the payment will appear in status draft already prior to the period end. The processing will follow the usual steps.