Transaction Maintenance

Transaction Maintenance

Table of ContentsIntroduction

Slide 2

Introduction  Business Scenario  Finacle CBS Process Overview  Key Terminologies  Step by Step Process  Demonstration  Summary

Transaction Maintenance Slide 3

Introduction

Lesson Objective

Duration

Intended Audience

To understand the process of cash transaction in the account of a customer

To understand the process of transfer transaction in the account of a customer

1 Hour

Counter Assistant and Supervisor

Transaction Maintenance Slide 4

Business Scenario

A Customer of your Post Office wants to do transactions pertaining to cash deposit and transfer money to another account.As a Counter Assistant you will invoke the Finacle menu options CTM for Cash transaction and CXFER for various type of transfer transactions.

Let us see the process in detail.

Transaction Maintenance Slide 5

Finacle Process Overview

The approaches for transactions in account are as follows:

Transaction Maintenance Slide 6

Cash transfer between vault and counter assistants

Transfer of cash from the Vault to Head Cashier and from Head Cashier to the Counter assistants

.

The Counter assistant after tallying the cash, will hand over the cash to the Head Cashier and the Head Cashier after tallying his Cash with Deposit Cash in the Cash Vault.

Daily cash process

CASH VAULT

HEAD CASHIER

CA 1 CA 2 CA 3

Transaction Maintenance Slide 7

Key Terminologies

TERMS DESCRIPTION

1

Maker and Checker Maker and checker are nothing but two persons who are involved in the creation and posting of the transactions.  Maker is the person who creates the transaction. Checker is the person who verifies the transaction.

2Entered Transactions When the transactions are in an entered state no effect is shown in the

balance status.

3Posted Transactions When the actual account balances get affected. It can either increase

(credit transaction) or decrease (debit transaction) the balance in the account.

4Verified Transactions When another person ensures the correctness of the transaction and

also authorizes it, the status of the transaction is verified.

5Deleted Transactions When the user deletes the transaction the transaction is said have

been deleted, the status of the transaction which is logically deleted

Transaction Maintenance Slide 8

Key Terminologies (Contd…)

TERMS DESCRIPTION

6Transaction Id Each batch of balanced transactions is identified by a unique number.

Each batch of transaction has both debit and credit transactions to make it a balanced transaction.

7Number of Users A transaction usually involves two or a maximum of three persons for

a transaction to get completed

8Value-dated transactions

The effective date of transaction for interest calculation purposes. During the Cash deposited in the account you can enter the date of your choice.

9

Post dated Transactions

This transaction occurs for an account where the transaction date is greater than the current date. In this scenario you cannot process the transaction till the date of transaction matches with the BOD date

10

Back dated Transactions

This is a transaction that is initiated on an account where transaction date which is less than BOD dates. At the end of day, the Core Banking Solution updates the Sub GL Balances for all the previous days

Transaction Maintenance Slide 9

Step by Step Process

Given below is the step by step process to perform transactions in Finacle:

Invoke the menu option CTM for Cash Transactions.Invoke the menu option CXFER for Transfer Transactions.Enter the Function: A-add, D-Delete, I- inquire, M-Modify, P- Posting, V-Verify.The BOD date will be populated automatically.Enter the Type and Sub Type:

o Cash Transaction ( C ) – Normal Receipts (NR) and Normal Payments (NP)o Transfer Transactions (T) – Customer Induced (CI) and Post Office Induced (PI)

Press GO button. This will take you to the new screen.Enter the account number.

o By entering the account number the name of the account and the balance will be populated.

Click on the Part-Tran for Debit or Credit.Enter the amount.Enter the transaction particulars.Press Submit.By pressing Submit Trans ID will be generated.The transaction should be verified by the Supervisor.

Transaction Maintenance Slide 10

Demonstration

Transaction Maintenance Slide 11

Congratulations!! You have successfully completed the lesson Transaction Maintenance using Finacle. Following are the summary of important points discussed in this lesson: 

▀In Finacle using the menu option CTM for a cash transaction and menu option CXFER for transfer transaction can be entered and posted.

▀Finacle supports maker/checker concept.

▀Transaction are entered / posted and can be modified in entered status and it needs to be verified .

▀Type and Sub-type for Cash Receipt and Payment transaction are Cash- Normal Receipts (C/NR) and Cash – Normal Payment (C/NP)

▀Type and Sub Type for Transfer transactions are Customer Induced(CI) and Post Office Induced (PI)

Summary

Transaction Maintenance Slide 12

Any Questions?