Finacle Training Lesson 11 [ RD Deposit by Cheque, PPF Deposit by Cash/ Cheque]

FINACLE TRAINING LESSON 11

Recap:

In the previous lesson we have learnt about verification of transactions and how to do RD deposit by cash. If you did not read the previous lesson, please read it first and come back to continue. In this lesson we will continue about RD deposit in different modes.

RD Deposit by POSB cheque

Invoke the menu CRDP. After invoking CRDP menu you will get a new screen. In the new screen choose Function as ADD, and this time choose Transaction Type as T/CI – Transfer Customer Induced. Now click on Go (or press F4).

In the new screen that appear after clicking on GO; enter RD account number and Total amount. Now see the image below.

Since customer is paying the deposit amount by cheque we have to choose mode of payment as cheque as shown in the figure above. After that, enter the remaining details about the cheque (cheque date, cheque number, account id) and transfer amount. Transfer amount should be same as transaction amount.

Since transfer amount should be same as transaction amount, we should note that, if customer is paying a defaulted subscription, then cheque should be given for the amount including default amount.

For example: Customer is paying RD installment of a defaulted month. Let’s say denomination is 1000, so default amount will be Rs.10/-. So customer should give a cheque for Rs.1010/-. We cannot accept cheque for Rs.1000/- and default as cash. This is because the while doing RD deposit by cheque Finacle will automatically debit the SB account related to that cheque.

Similarly if the customer is making advance deposits, then cheque should be accepted for amount deducting the rebate amount.

For example: Customer is paying 12 installments of an account with denomination 1000. So rebate will be 400. In this case we have to accept cheque for Rs.11600/- only.

Same caution should be exercised while accepting bank cheques also. Amount should include default if paying for defaulted month; rebate should be deducted if paying advanced deposits.

RD Deposit by Bank Cheques

Rd deposit by bank cheque is same as RD deposit by POSB cheque, except for the following points.

1. Choose mode of payment as Transfer
2. Enter Account ID as Sol ID+0017 ( I’ll explain later why we are entering account number as Sol Id+0017)
3. Enter Value date as Cheque clearance date.

See the image below and you can observe the differences.

So this is how we do RD deposit by bank cheque.

Verification of RD Transactions.

To verify RD transactions invoke the menu CRDP. Choose Function as POST. Then enter the transaction ID and click on GO. Verify the entries on the screen with those on the RD voucher. If everything is found correct, then click on SUBMIT. That’s it verification is over.

Note: If anything is found incorrect in the transaction, we can delete the transaction and re enter the transaction. Care should be exercised while verifying RD deposits. Because counter PA has done any mistake in RD deposit and supervisor verifies it by mistake we cannot do anything in that case.

PPF Deposit by Cash

Since all offices have become online, a dilemma has come whether C class offices should accept PPF deposits or not. Customers will be coming to all post offices now because all offices are becoming online.

I’m not sure but I think we can accept PPF deposits of any office at any office. But to open, close or any other modification of PPF accounts should be redirected to home office only. That means even single hand may accept PPF deposits. Because customers may come to all offices for PPF deposits it’s better to learn how we do PPF deposits in Finacle.

Let’s see how we do PPF Deposits in Finacle. Invoke the menu CPDTM and you will see the following screen.

As we have seen in RD deposit screen, this PPF deposit screen also has Function Code , Transaction Type initiating sol id etc.

Choose Function Code as Add. We have seen in RD deposit that transaction type means whether the customer is paying by cash or POSB cheque or by bank cheque. Since in this transaction we are doing PPF deposit by cash we will select Tran Type as C/NR- Cash Normal Receipt. For deposits by POSB cheques and bank cheques choose Tran Type as T/CI- Customer Transfer.

There is another field Type in this screen. What does it mean? Do you remember in CTM menu there was a field Function Type? Type and Function Type are same. Since CTM menu was used for both deposit and withdrawal transactions, we select Function Type as either deposit or withdrawal to tell Finacle which transaction we are doing.

Similarly, CPDTM menu is used for normal PPF deposit, Loan principle repayment and loan interest repayment. So to tell finacle which transaction we are doing, we choose appropriate option in Type.

It would have been better if Infosys people used the same terminology in all menu screens. But what we can do? Let’s just learn in this way only.

Now if you have our book Pineapple in your hand, please refer to the section 5.1 once. Notice the first 4 steps in the book.

Read the steps in the above image and once read the present topic of PPF deposit by cash from the beginning. You will notice that both are very much same. Except in this training lesson we elaborated each option and in the book steps are short and to the point.

In the book we just gave instructions so clear and to the point that it would be easy for you in the counter to quickly do the transaction. But unfortunately many of us did not know what is meant by invoke the menu, function, transaction type/sub type, type and all this stuff.

I hope you understand my point. Now after these training lessons using the book will be very easy. You can easily understand every step in the book.

So after selecting all the options, click on GO or press F4. Make habit of pressing F4. Minimize the use of mouse. Always keep your left hand on F4 so that as soon as you complete filling up the forms, quickly press F4. Use right hand to enter numbers, pressing F10 (to submit/post) and minimum use of mouse.

You will see the screen as shown in the below image after pressing F4. See the image below.

As we have done in previous deposit and withdrawal transactions, just enter the account number and amount and press on submit. Your transaction will be completed.

In this screen see PPF subscription paid field. In this field finacle will show us the amount of subscription paid in the current financial year.

That’s it PPF deposit by cash is over.

I’ll not explain the verification procedure for easy transactions from now onwards. Take it as challenge and try yourselves. People will laugh at me for saying verification as challenge. Because it so easy. So try yourself. But having said that verification is easy, you need to properly check whether all the entries made by counter PA are correct before you press the submit button.

Let’s move on to the next topic.

PPF deposit by POSB/Bank Cheques.

Just follow the same steps as I said in the above transaction. The only difference will be choose Transaction Type as T/CI – Customer Transfer.

Choose all the options and click on GO. You will see the screen as shown below. See the image below.

As usual enter the PPF account number and amount. Only extra step in this transaction is to enter the debit account number. In the image it is shown as Account Number (Dr). In this field we have to enter the SB account number if customer gives POSB cheque for withdrawal. If the customer gives bank cheque, then we have to enter SOL Id+0017 as account number. That too after clearance of the cheque and enter clearance date in value date.

I’ll tell in detail why we have to enter Sol ID+0017 as account number for bank cheques while explaining the process of sending bank cheques for clearance.

That’s it click on submit, note down the transaction ID and verify the transactions.

With this lesson we complete the basic deposit and withdrawal transactions which we do in the counter. Tomorrow we will start learning about MIS/TD/SCSS interest withdrawal transactions.

Points to be remembered

Just read this lesson while you are doing transactions tomorrow. You will feel you have learnt new things. That will improve your confidence of working with finacle.