Within rhymeSIGHT, dividend receipts and payments can cater for both private clients and institutional funds. The rhymeSIGHT Dividends module is designed to be used by companies that are collecting dividends for in-house or institutional funds, or by companies who are collecting dividends that are to be passed onto private client funds.
rhymeSIGHT Dividends caters for bulk and single dividend payments from nominee accounts, and allows bulk receipt to be divided amongst a number of client accounts. The software provides an automatic reconciliation of the market and client sides, reporting any differences between what has been received and what has been paid out.
The module has multi-currency functionality so dividends received in one currency can be paid out to the client in another depending on the clients’ preference. Any differences through foreign exchange or normal rounding can be catered for by preset automatic postings to a ledger account in fund accounting. All tolerances on receipts can be pre set to allow dividend items to pass through or be shown as an exception and placed in a queue to be actioned by the necessary user.