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The Cash Sweep Module keeps all cash fully invested by creating transactions
for automatic movement of uninvested cash.
It transfers excess cash into an interest-bearing account by creating a purchase
of the cash sweep vehicle designated for the account. For accounts with a cash
deficit, it creates a sale of the cash sweep vehicle to correct the overdrawn
position.
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The Cash Sweep Module adds value to the core system by … |
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- saving time by creating all cash sweep transactions needed to fit pre-defined rules for
each account.
- eliminating the opportunity for human input error by automating the transaction
creation.
- allowing each account to have a designated minimum sweep transaction amount.
- allowing each account to have a designated minimum balance.
- allowing the use of one or two cash sweep vehicles for each account. Income cash
and principal cash could be designated differently.
- allowing an unlimited number of cash sweep vehicles for your database.
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- Income Accrual Module works with the transactions created by the Cash Sweep to
calculate earnings for each account.
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