The Collected Balance is the amount that is collected in an account post clearing. It includes the account book balance as well as any other amount in the account that is on hold.
Collected Balance = Available Balance + Funds on Hold.
Example: Account 'X' opened on 20110101 with RMB 5000. The book balance and the collected balance on the end-of-day 20110101 are both RMB 5000. Now, on 20110102, the customer deposits a cheque of RMB 5000. In such a case, as on the end-of-day of 20110102, the account's book balance(cleared balance) would still be RMB 5000 since the deposited cheque is not settled, but the account's collected balance would be RMB 10000.
Collected balance plays a significant role during interest calculation, since in FCR, interest can be calculated based on either the book balance amount or the collected balance amount.
In the table CH_PROD_MAST, a flag flg_book_coll_bal is used to decide whether interest calculation should be done on the basis of collected balance or book balance. The bank can set this flag during product creation.
Collected Balance = Available Balance + Funds on Hold.
Example: Account 'X' opened on 20110101 with RMB 5000. The book balance and the collected balance on the end-of-day 20110101 are both RMB 5000. Now, on 20110102, the customer deposits a cheque of RMB 5000. In such a case, as on the end-of-day of 20110102, the account's book balance(cleared balance) would still be RMB 5000 since the deposited cheque is not settled, but the account's collected balance would be RMB 10000.
Collected balance plays a significant role during interest calculation, since in FCR, interest can be calculated based on either the book balance amount or the collected balance amount.
In the table CH_PROD_MAST, a flag flg_book_coll_bal is used to decide whether interest calculation should be done on the basis of collected balance or book balance. The bank can set this flag during product creation.