FINACLE
TRAINING LESSON 14
Also Read : Finacle Training Lesson 13
Also Read : Finacle Training Lesson 13
Recap:
In the
previous lesson, we have learned in detail about interest withdrawal process
(reversal transaction). In today’s lesson we will learn about how to credit the
interest amount in customer SB account.
Interest payment by crediting to SB account or by RBI cheque.
In many cases interest
credited in sundry account will be more than 20,000. For example in SCSS and TD
interest amount in many cases will be much more than 20,000.
As per POSB rules we
cannot pay any amount 20,000 as cash. So in such cases we have to transfer the
interest amount either to customer’s SB account or to
Repayment account {0340}.
We will transfer the
amount to customer’s SB account if customer has an SB account and we will
transfer the amount to Repayment account {0340} if payment is made by RBI
cheque.
Follow carefully now. We
know that in Finacle every transaction has a Credit entry and a Debit entry. In
the previous transaction where we have done interest reversal
by cash, Sundry account was debited and Teller account was credited.
But here we have to
credit either customer’s SB account or Repayment account {0340}. Let’s see how
it is done.
Invoke HTM, choose
function as Add and Transaction Type/Sub Type as
T/CI Customer Induced and click on Go. See the image below.
After Clicking on Go you will see the
screen as shown below.
Observe the fields which I have put in a box in the above image.
What did you observe? Part Transaction Type is selected as Debit. Have you ever
encountered this word “Part Transaction”? Yes many of you should have seen this
error “Part Transaction already posted”. Have you ever wondered what a part
transaction is? You will know the answer now.
I shall repeat once again
all transactions in finacle we will have a debit entry and a credit entry. Even
while doing transactions using CTM, CRDP, CPDTM etc debit and credit
transactions will take place in the background.
They have created these
customized menus to help us from not getting confused due to debit and credit
entries. In CTM, CRDP, CPDTM etc C stands for Customized. It means these menus
are created especially for DOP. In HTM, HACLI, HFINRPT etc H stands for
Hypertext. All default Finacle menus start with H. Those menus which are
specially designed for us start with C.
For your information I
will tell you that we can do all transactions like SB deposit/Withdrawal, RD
deposit, PPF deposit, etc using HTM menu itself. But you should know the
correct debit and credit accounts.
Now coming back to our lesson, to transfer interest from
Sundry to SB account we know that Debit account is Sundry account and credit
account is customer’s SB account.
To transfer interest from
sundry to SB account, there are 2 steps involved. In the first step we debit
the sundry account and second step we credit the customer SB account or
Repayment account.
These steps are called as
Part Transactions. So technically we should say, in the first part transaction
we debit the sundry account and in the second part transaction we credit the
sb/repayment account.
It is not mandatory that
the first part transaction should be debit only. If you are comfortable enough
to play with debit and credits you can do any part
transaction first.
If you observe in the
interest withdrawal by cash in the previous lesson we only debited the sundry
account. It doesn’t mean that there is no credit transaction. Credit
transaction took place without our knowledge in the background.
Hope you are getting my
point.
Coming back to our actual transaction let see what we
should do.
In
the first step we debit the Sundry account. This process is same as we have
done in the interest withdrawal by cash transaction. Let’s quickly see the
steps involved.
1. Function
– ADD
2. Transaction
Type/Sub Type – T/CI Customer Induced
3. GO
4. Enter
Sundry account number
5. Enter
amount
6. Enter
actual MIS/TD/SCSS account number in ref number
7. Click
on GO
8. Enter
actual MIS/TD/SCSS account number in ref number again
9. Click
on GO
10. Tick
the entry and click on Accept
After
clicking on Accept you will be taken to the first screen again. Wait don’t
click on Post. For interest payment by cash we just clicked on Post to complete
the transaction.
But here we completed only
half of transaction. Only one part transaction is completed. To do the second
part transaction click on ADD, as shown in the figure.
After
Clicking on ADD button you will get the same screen with empty fields again.
This means you have to enter second part transaction details here. Second part
transaction details is nothing but entering the credit account id and amount.
Enter
the customer account id and amount change the part transaction type to Credit.
That’s
it. Click on Post. Your transaction is over. Amount will transferred to either
customer’s SB account or Repayment account.
Read
this lesson and the step by step procedure in our book Pineapple you will
understand very clearly what is happening behind the scenes.
Hope
you have understood this lesson.
The
procedure is same for MIS/TD/SCSS accounts. Only the sundry account number will
change.
That’s
all for now see you tomorrow, same time same place.
