On-line, Faster Valuations
In order to value investments on-line you must first set-up your system for Contract Enquiry with your preferred investment providers, as described in “Set-up, On-line Contract Enquiry”. You should then ensure you’re familiar with the standard on-line valuation procedure, as described in “On-line, Revaluations”.
The Problem – Too Much Work
On-line contract enquiry does not provide a comprehensive trail of how a client’s investment got to its current value. For example, it does not include all the switches and withdrawals. So for a fully-detailed valuation you have to enter all the historic transactions manually, which is a very time-consuming job, after which you use contract enquiry to update the current units and values. This is known as the “RETAIN” funds option in Durell.
A Solution – The “Basic” Valuation Report
For faster on-line valuations you might consider replacing the fully-detailed “Standard” valuation report in Durell with the more basic one available from the Policies screen via “File / Print / Valuation (Basic)”, as shown below. This version of the valuation report just contains the current funds and their values, as downloaded via the on-line valuation process, hence making it unnecessary to enter any fund details manually, and thereby radically speeding-up the whole process. This is known as the “DELETE” funds option in Durell.
You may wish to show the original amount invested on this report, or some other additional details such as withdrawals or switching. To do so enter them in the “Details” field in the middle of the policy’s front screen, as shown below. (Note that the policy’s original “Premium” value is also not displayed on this Basic valuation report, as it could have been subject to variations, top-ups, and switches.)
Then to get your text details to appear when you’re running the valuation report, ensure you tick the box to “Include text from policy details field”, as shown below...
A Solution - The On-line Revaluation Process
If the Basic valuation report described above is acceptable, and you’ve set-up contract enquiry with your investment companies, you can run a policy valuation (i.e. by clicking the purple “Zigzag” button on the toolbar) without first entering any fund or transaction details, as shown below...
You’ll then see the following pop-up, where you should select the bottom left option to only revalue the current contract. Ensure that there are ticks in the boxes for “Revalue”, “Online” and “Renew funds”. Click the “Update” button to automatically download the funds. Thereafter every time you repeat this all of its old fund details will be deleted and renewed with the current funds, units and prices.
You can setup your entire system to default to this process in “Setup, On-line contract enquiry” via the button for “Standard CE Settings for All Providers”.