Creation of a savings account

Functionality discussions and feature requests

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MichaelDSU
Posts: 5
Joined: Fri Jun 15, 2012 9:19 am

Creation of a savings account

Post by MichaelDSU »

I am a bit lost. Cyclos is very different from the typical US banking software I am used to. I am trying to create a savings account. I want to be able to have a member do the following transactions:

1. Transfer money into this savings account from their debit account
2. Transfer money into their debit account from their savings account

What do I need to do to set up a savings account. Unless I am missing something, I don't see an easy way to create a typical savings account using the standard accounts and account transactions.

Thank you in advance for your time.

cycloshost
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Joined: Mon Jan 30, 2012 8:12 am
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Re: Creation of a savings account

Post by cycloshost »

This is possible setting the availability in the transaction type to self payment. You just have to create two account types from Accounts -> Manage accounts: debit account and savings account.

Then, edit the debit account and insert a new transaction type. In the field 'to' select the savings account and in the field 'Availability' select 'self payment'. Repeat the same to insert a new transaction from the savings account to the debit account.

hth
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MichaelDSU
Posts: 5
Joined: Fri Jun 15, 2012 9:19 am

Re: Creation of a savings account

Post by MichaelDSU »

acampadaleipzig wrote:This is possible setting the availability in the transaction type to self payment. You just have to create two account types from Accounts -> Manage accounts: debit account and savings account.

Then, edit the debit account and insert a new transaction type. In the field 'to' select the savings account and in the field 'Availability' select 'self payment'. Repeat the same to insert a new transaction from the savings account to the debit account.

hth
Thanks for the great pointer. I created the accounts and the transaction types. However, when I create the transaction types, I have no 'Availability' field. I created the accounts as Admin. What did show up when I created the transaction type for the Debit Account was the following fields:
'Fixed destination member login name'
'Fixed destination member full name'

I did not fill them him as I want this to be applicable to any member account, not just a specific user.

Thank you again for your time.

cycloshost
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Joined: Mon Jan 30, 2012 8:12 am
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Re: Creation of a savings account

Post by cycloshost »

Both accounts debit and savings must be member accounts, no system accounts. I send you a screenshot:
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MichaelDSU
Posts: 5
Joined: Fri Jun 15, 2012 9:19 am

Re: Creation of a savings account

Post by MichaelDSU »

acampadaleipzig wrote:Both accounts debit and savings must be member accounts, no system accounts. I send you a screenshot:
Thank you so much. That worked.

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