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The Safe Deposit Box Module (SDB) manages and controls a
safe deposit box inventory and associated customer accounts.
SDB is a complete system for billing and collecting rent. It
also controls rent accrual and refunds, late charging, rent
discounts and sales tax, miscellaneous fees, and key deposits.
SDB is integrated with the ITI Financial Management System
(FMS) for general ledger accounting - including accounting for
rent on a cash or accrual basis. The module is run daily to
post payments and generate billing, and to produce reports and
up-to-date past due payment information.
- Safe Deposit Box Inventory
- Box numbers can be numeric, alphabetic, or a
combination (e.g. "B2345").
- Inventory can be searched on-line to inquire into
single or multiple boxes.
- The on-line search feature finds boxes for a specific
branch number, size, status (rented, vacant, unusable), or
rent to identify an ideal box for a new customer.
- Inventory reporting includes a complete reference
journal, reports of vacant boxes, unusable boxes, and
client-defined reporting.
- Customer Information
- Accounts are established for billing and recordkeeping
when boxes are rented.
- Default information is automatically assigned by Class
Code for simple and reliable new account maintenance.
- Billing schedules are flexible - monthly, quarterly,
etc. - or based on client-defined dates and amounts.
- On-line account inquiries and transcript statements
simplify account review.
- Account reporting includes complete reference
journals, analysis reports, four types of customer
notification, and client-defined reporting.
- Transaction, Accrual and Accounting Functions
- Rent accrual and refunds are calculated and accounted
for automatically.
- Discounts provide automatic rent reduction on a
customer-by-customer basis.
- Late payment charges are calculated and applied based
on specifications.
- Miscellaneous fees can be assessed with specific
transaction codes.
- Key deposits are tracked, refunded, and reported.
- Transactions can be restricted at the account level.
- Integration with the ITI Financial Management System
eliminates the process of writing up general ledger
transactions to summarize safe deposit box activity.
- Application balancing automates reconciliation with
the general ledger.
- Using the ITI Paperless Item Module, payments can be
deducted from external institution accounts.
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