Overview of Banking Training and Topics To Be Covered at the Training

1. Overview of Banking Training and Topics To Be Covered at the Training

2. Items to Be Covered Today At the Bank Training • Making individual accounts for all employees • Writing down all usernames and passwords • Depositing two months back salary at the training for all employees • Figuring out salaries and how to run a payroll for employees after the training • www.salary.com • www.paycheckcity.com • Frequently Asked Questions with Possible Answers • Overview of On-line Banking System • Passwords and Security • Front Office • Back Office • Branch Banker Job Description • Bank Account Types and Easy Searches • Personnel Finance Assignment • Proposed Ways to Stimulate the Economy • Communication Between Branch Bankers When Problems Arise • Loan Applications • Business Contracts replacing Phantom Contracts

3. Branch Banker Job Description • The VirtuBank Branch Banker position is one of the most vital jobs in the Virtual Enterprise Simulation. This document will try to describe the duties and responsibilities of that position. Listed below are the primary jobs required of the branch banker. • Establish company account • Maintain records of company payments • Responsible party for company payments • Establishes individual customer accounts • Maintains records of individual customer payments • Responsible party for collections of past due accounts • Reports individual customer delinquency • Communicates regularly with other branch bankers on financial matters • Communicates regularly with central office on overdue account matters • Serves as watchdog over his financial institution rating

4. Overview of On-line Banking System

5. Overview of On-line Banking System

6. Overview of the VirtuBank of California

7. Checking • Checking accounts in the VirtuBank are the only accounts with which a customer can make outside payments – payments made to other individuals or companies. Transfers can be made to and from a savings account from a checking account.

8. Business Checking • Business Checking is an interest earning checking account available only to Virtual Enterprise Companies. • Business Checking is subject to a monthly Service Charge of $25. If a monthly is assessed, it will be deducted from your account on or near the first day of the month. • Interest – Interest on your account is compounded daily using a 365-day year, paid monthly, and calculated on your interest earnings balance. Your interest earning balance consists of your account balance at the end of each banking day. The interest rate is subject to market conditions, is determined by us from time to time, and can be changed by us as often as daily. While Business Checking accounts do earn interest, they do not earn as much interest as Savings accounts.

9. Personal Checking • Personal Checking is a non-interest earning account used by students, teachers, and visitors. • You must deposit a minimum of $100 to open a Personal Checking account. There is a monthly service charge of $9 in California.

10. Savings • Savings accounts in the VirtuBank System earn interest, but do not allow customers to make payments outside of their own account. There are no fees associated with VirtuBank savings accounts. Both Business and Personal Savings accounts in the VirtuBank System are functionally the same. If you would like to make a payment with money in your savings account, transfer the money from your savings account to your checking account, and then make the payment from your checking account.

11. Savings Interest • Interest – Interest on your account is compounded daily using a 365-day year, and is calculated on your interest earning balance. The interest rate is subject to market conditions, is determined by us from time to time, and can be changed by us as often as daily. Interest earned on your account will be paid on or near the first of each month.

12. www.virtualenterprise.org/virtubank/default.asp • Used By All Company Employees • Viewing Personal or Business Checking/Savings accounts • Transfer funds between Checking and Savings accounts • Make Payments • Viewing Pending and Successful Transactions • Add/Delete Payees

13. Front Office URL – www.virtualenterprise.org/virtubank username password

14. Viewing Personal or Business Checking/Saving BalanceLog inClick on Checking or SavingsView Past Account Details for selected month (Figure 1.1)

15. Viewing Personal or Business Checking/Saving BalanceLog inClick on Checking or SavingsView Past Account Details for selected month (Figure 1.1) Click here Account details

16. Transfer funds between Checking and Savings account Click on transfer Select From Account (Figure 1.2) Select To Account Enter Amount Type Memo (A very important step that should not be skipped) Click Submit *** Transfer tab

17. Make Payments Click on Payment Select From Account Select To Payee (Figure 1.3) If payee not in the drop down list see Add Payee Type in Amount of Payment Type in a Memo/Invoice of the transaction (include invoice number if possible) Click Submit Make Payments Account Payee Amount The next slide discusses adding payees Memo / Invoice Number

18. Bank Account Types and Easy Searches • There will be seven major types of bank accounts on the VirtuBank. All accounts will fall under one of the five headings. By using some simple search words you can access all five types of accounts easily. The five types of accounts are as follows: • Individual Customer Accounts (Search = Person’s name) • Coordinator Accounts (Search = Coordinator) • Company Accounts (Search = California) • Visitor Accounts (Search = Visitor Company Abbreviation) • Out of California Company Accounts (Search = State Name or Country Name) • Dummy Accounts (Search = Company Name) • Virtual Enterprise Center (VEC) Simulation Accounts (Search = VEC)

19. Adding payees to make payments • The following searches should be tried at the training: • Individual Names • Company Name • California = Business Tag • VEC = Simulation Accounts • Visitor = Visitor Accounts • State Name = Business Accounts for other states • Coordinator = Teacher accounts

20. Search Results - for adding payees to make payments These are the search results using VEC Note: the tag on the accounts are VEC The second part after – is the tag Note: All accounts must have tags

21. Viewing Pending and Successful Transactions Click Pending Click on Transaction (Figure 1.4) Click on Remove Completed/Cancel Active Pending Transactions Memo information will show up here Transaction status – all transactions will clear at 12 midnight each day

22. Add Payees Click Payees Click on Add Payees Click on Lookup Locate the Company or Name to add your payee list (Figure 1.5) Click on Add Payee Click Submit Payees You can only pay companies or individual if they appear on your payee list. In previous slides we discussed how to add payees

23. Delete Payee Click Payees Click Delete Payee Click to select Payee (Figure 1.6) Click to Submit Delete payees Pick the payee on your list you want to delete

24. Front Office Review • Passwords • Viewing account details • Transfer funds • Make Payments • Adding Payees • Search Results • Viewing Pending and Successful Transactions • Add Payees • Delete Payee

25. Personnel Finance Assignment

26. Shopping Mall – The Place for Electronic Commerce

27. Back Office • http://www.virtualenterprise.org/virtubank/backoffice/ • Used By Branch Bankers and Coordinators Only • Create New Accounts • Modify Accounts • Deactivate and reactivate Accounts • Manually Deposit • Run Reports • Apply for a Loan • Business Contract Application (to replace Phantom Contracts) – Coming Soon

28. Back Office URL www.virtualenterprise.org/virtubank/backoffice Username Password Company Name

29. Making individual accounts for all employees • You need the name of all employees in your company • You are going to make accounts from them right now • Make sure you right down the names, usernames, and passwords as you make them • You decide on what you want the usernames and passwords to be • You can use numbers or letters for usernames and passwords – these are case sensitive

30. Writing down all usernames and passwords • Keep a spreadsheet or write down in safe place • You can change the usernames and passwords when you get back to your companies • Note: you are responsible for the security of these passwords

31. Create a New AccountLog inClick on New Account (Figure 2.1)Type in Name, Username and Password (Brach banker decides on Username and Password)Click on Submit Click Here Type in the Name User Proper Capitalization All accounts must have tags – the name of your company Username Password

32. Modify AccountsClick on Modify AccountClick SearchSelect account to be modified and Click on EditEdit required information (Figure 2.2)Click on Submit Information can be checked or changed in these areas. Branch bankers have the power to change account passwords at any time.

33. Deactivate AccountsClick on Deactivate accountClick SearchSelect account and Click on DeactivateConfirm Selection (Figure 2.3)Click Deactivate Select account for deactivation

34. Deactivate AccountsClick on Deactivate accountClick SearchSelect account and Click on DeactivateConfirm Selection (Figure 2.3)Click Deactivate

35. Reactivate Accounts – (If an account has been deactivated it will appear in the reactivate list)Click Reactivate AccountClick SearchSelected account and Click on ReactivateConfirm selection (Figure 2.4)Click reactivate

36. Reactivate Accounts – (If an account has been deactivated it will appear in the reactivate list)Click Reactivate AccountClick SearchSelected account and Click on ReactivateConfirm selection (Figure 2.4)Click reactivate

37. Manual DepositClick on Manual DepositClick SearchSelect Account for Manual DepositClick DepositType a Description (Figure 2.5)Type in AmountSelect Account (Checking/Savings)Click Submit

38. Manual DepositClick on Manual DepositClick SearchSelect Account for Manual DepositClick DepositType a Description (Figure 2.5)Type in AmountSelect Account (Checking/Savings)Click Submit

39. Depositing two months back salary at the training for all employees • You are going to deposit two months back salary into all individuals accounts • If you do not know each employees salary then use the below described web site to get an idea for employee salary • www.salary.com

40. Figuring out salaries and how to run a payroll for employees after the training • www.paycheckcity.com • After the bank training you WILL NOT USE MANUAL DEPOISIT TO RUN PAYROLL

41. Reports (Statements)Click ReportClick StatementSelect the MonthClick SubmitSelect Customer Statement to view (Figure 2.6)Select Account to view (Checking or Savings) Click these two items in proper order

42. Reports (Statements)Click ReportClick StatementSelect the MonthClick SubmitSelect Customer Statement to view (Figure 2.6)Select Account to view (Checking or Savings) Click on account or accounts that you want to review their monthly transactional statement

43. Reports (Payments Made to Companies)Click ReportClick Payments made to other CompaniesSelect the Month (Figure 2.7)Select CompanyClick Submit

44. Loan Applications • This needs to be done when you finish your business plan and presented it to your banking panel • The purpose of the business plan is to ask for a start-up loan • The tool to apply for the loan is in the Backoffice

45. Apply for a Loan (Loans are processed in 7-10 days)Click Loan ApplicationFill in all required fields (See Figure 2.8)Click Submit (After Loan approval you are able to view Loan Document and Payment Schedule under loan application in the Back Office)

46. After applying for a loan (Loans are processed in 7-10 days) wait for a loan document and payment schedule to appear in your BackofficeDownload, read, sign, and return to VEC your loan documentRead, review, and following instruction to starting paying your loan each monthNote: your loan money will automatically appear in your company account

47. Business Contracts Button (replacing Phantom Contracts) will be added soonLook for it between the Loan Application and Help Button

48. Business Contracts • This year we want you to use the Business Contracts (form is placed in the BackOffice). • Contract will be with the VEC for gross monthly salaries plus Cost of Goods sold to the VEC as outlined in the Contract. • You will not use the Manual Deposit Tab for the Business Contract money this year.

49. Proposed Ways to Stimulate the VE Economy and Enhance the VE Simulation • We need to have more outside parties participate in the VE simulation. • We need to have more money and transactions circulate in the simulation. • It is proposed that we allow visitors, principals, teachers, business partners, parents and other interested parties to conduct transactions in the VE simulation. • We will give each visitor $1,000 to spend per classroom visit. • Local branch bankers will transfer money from designated company visitor account to company account after visitor sales. • By using this system the VE economy has just expanded. It is hoped that all visitors will now be treated as potential customers, not just visitors. This will force companies to work on sales techniques. • The VEC central office will set these accounts up for each company in the month of October. It will be done in conjunction with the regional student training workshop.

50. Frequently Asked Questions with Possible Answers • What happens if another individual or company will not pay their bills? • Resend the Invoice to customer first. • Contact Branch Banker of the company. • Contact the CEO of the company if no reply. • Contact the Coordinator of the company. • What does the Branch Banker do in these cases? • Remind the employee to pay the bill. • Check to see that employee has paid the bill.