Back Office Function
The back office is the supporting department of a company that carries out administrative functions that assist the front office to facilitate the course of work and the business transactions. Back office functions include settlements, clearances, record maintenance, regulatory compliance, accounting, and IT services.
Back office operations provide a range of corporate, non-core services, usually at a distance. Routine administrative tasks, customer service and technical support functions are examples of back office operations. (Back office operations are not the same as offshore operations, which establish business entities in tax-free export zones or offshore centres.
Click the BackOffice tab at the top-left corner of the application. Then, expend BackOffice -> Action -> Payment Settlement.
fter that, you can either click the Load button to load an existing trade settlement for review/modification or the New button to generate a new payment settlement.
You click the New button, a selection window pops up. Expend BackOffice -> Book (e.g., InterestRate) -> Product (e.g., FiBond). All the bond trades within this book are displayed in the main windows.
Select a trade and click the Go button. A new payment settlement template is shown in the main window. Fill all fields and click the Save button. The new payment settlement is created.
If you click the Load button, a selection window pops up. Expend BackOffice -> Fee -> Book (e.g., InterestRate) -> Product (e.g., FiBond). All the bond trades having cash settlements within this book are displayed.
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