Finacle Training Lesson 7 [ Credits, Debits]

FINACLE TRAINING LESSON 7 

Recap

In the previous lesson we have learnt about the number of steps involved in completion a single transaction and the number of states for a transaction. Please read the previous lesson as it is very important in this training series.

In this lesson we will learn about some more finacle basics, like what is SOL id, what is teller id etc.

Service Outlet Id 

In finacle each post office is called as a SERVICE OUTLET. Each service outlet has a unique identification number called as Service Outlet Id. In short SERVICE OUTLET ID is called as SOL ID. I hope now you have come to know what a Sol is and what is Sol id.

SOL ID is a 8 digit number formed by joining the pin code of the post office and 2 more numbers. For example pin code number of Bangalore GPO is 560001 and its SOL id is formed by adding 00 to its pin code. So the SOL ID of Bangalore GPO is 56000100.

Similarly SOL ID of Medchal post office, whose pin code is 501401, is 50140101.

SOL Id = Pin code number+ 2 numbers like (00, 01, 02, 03 etc)

Example:

     1.     600017+00=60001700

     2.     500003+00=50000300

    3.     500007+01=50000701

I hope you are getting my point. Sol id is nothing but post office. Sol id is the new name of a CBS post office.

    1.     All accounts of a post office are linked to the Sol id

    2.     All users (counter pa, supervisor, ledger clerks, etc) of a post office are linked to sol id.

    3.     A user of a post office has all transactional privileges on accounts of the same Sol only

    4.     Only deposits, withdrawal and passbook updating transactions of accounts of other SOLs are only to be done at your SOL.

    5.     If you want to do transactions other than deposit, withdrawal or passbook updating, then you have to transfer the account to your office first by following prescribed procedures for account transfer.

    6.      Transfer of accounts can be done within minutes. So if customer is ready with transfer application and KYC documents you can initiate the transfer at your end.

Note: If a user is going from one SOL to other SOL (on deputation or on rotational transfers etc), user or postmaster has to intimate to CPC about this movement. CPC people will then change the SOL id of the user as required.

 

One Transaction two entries.

Have you ever observed pending transactions in HFTI? If you did, then you might have observed two entries for every transaction. See in the below image.

  

We have blurred the numbers for security reasons

As you can see in the above image there are 2 entries for each transaction. Transaction numbers IN4**9566/1 and IN4**9566/2 correspond to the same transaction. But there are two entries, why?

In finacle for every transaction there will one CREDIT (Cr) entry and one DEBIT (Dr) entry. For every transaction we will have a clear picture of the movement of money.

Let me explain this with an example. But please note that if you do not understand this there is no problem. But please try to understand because it’s essential for all of us to know these concepts.

Example 1: - A customer has come to your counter to make a deposit of Rs.1000/- in to his SB account.

Now you will invoke CTM menu and deposit the amount in the customer account. Note down the transaction id. Now invoke HFTI menu. Enter the transaction id in Transaction ID field and click on Go. You will observe that there are two entries for the same transaction. One entry shows that Rs.1000/- is credited into the customer SB account and the other entry shows that Rs.1000/- is getting debited from your TELLER account. (In the amount column 1000 C means credit, 1000 D debit)

Example 2:- A customer has come to your counter to make a withdrawal of Rs.1000/-from his SB account.

As done in the previous example, you will invoke CTM menu and make the withdrawal transaction. Note the transaction id. Again invoke HFTI menu and enter the transaction id in Transaction ID field and click on Go. Again you will observe that there are two entries for the same transaction. One entry shows that Rs.1000/- is debited from the customer SB account and the other entry shows that Rs.1000/- is getting credited into your TELLER account.

As we can see from the above examples, there are 2 entries for each transaction. Also your Teller account is getting affected by the transactions which you are doing. It means that your teller account gets debited when you do a cash deposit transaction and your teller account gets credited when you are doing cash withdrawal transactions. It means your teller cash position will always be in DEBIT position. Whatever the available cash which the system shows is the DEBIT cash only. You can observe DR at the end in the teller cash position.

we have blurred the numbers for security reasons

The only point to remember in this entire discussion is that there are 2 entries (a debit entry and a credit entry) for each transaction. 

OFFICE ACCOUNTS

Apart from customer accounts, we will have some office accounts in finacle. These office accounts are used for various purposes. There are more than 500 office accounts in every office. Office accounts will also have an account number. Office account numbers will 12 digit long. Of these 12 digits first 8 digits will be the SOL ID and last 4 digits will vary for different accounts.

For example, I will show you some office accounts

     1.     MIS sundry account number of Secunderabad HPO  is 500003000337 ([50000300]{0337} = [SOL ID]{0337})

     2.     MIS sundry account number of Bangalore GPO  is 560001000337 ([56000100]{0337} = [SOL ID]{0337})

    3.     MIS sundry account number of T Nagar HO  is 600017000337 ([60001700]{0337} = [SOL ID]{0337})

As you can observe that in the MIS sundry account number only the SOL id is changing. Last 4 digits remain common.

Other office accounts are also identified in the same manner.

Now let’s see why office accounts are used with some examples.

Example 1:- SAS agent wants to open a 5yr TD account for Rs.100,000/-.

Counter PA will invoke the menu CMISAOP to open the 5yr TD account. After opening the account, the agent commission will be automatically CREDITED to agent's SB account.

But we know that for every transaction there are2 entries. In this transaction customers SB is getting credited. But which account is getting debited here? Here in this case one OFFICE ACCOUNT related to agent commission will get DEBITED.

So agent SB account will be credited and OFFICE account will be debited. All the agent commission which is paid in an office can be known by making an inquiry of this agent commission office account. You can use HACLINQ menu for that.

Similarly, since we give commission by deducting TDS, all this TDS amount will be credited in another Office account.

All these credit and debit transactions from office accounts will take place automatically. So you need not worry about all these. But it is essential that everyone should know what is happening inside the system.

Example 2 : An RD customer comes to your counter to make a deposit of Rs.500/- with default  of Rs.5/-

Counter PA will invoke CRDP to make the deposit transaction. As you can see customer has given Rs.505/-, but customer account is credited only with Rs.500/-. Where this additional Rs.5/- will go? This addition Rs.5 will go to RD Default office account.  

Similarly if a customer is depositing 12 installments in RD. Customer will get some rebate. This rebate amount will come from RD Rebate office account.

As explained in the above examples, there are so many office accounts. Each account is used for different purposes.

So this about various office accounts in Finacle. In the next lesson we will learn about the most commonly used office accounts in the office.

Observations in the office 

     1.     Invoke HFTI menu and observe the credit and debit entries of all the transactions. Observe which account is getting debited and which account is getting credited for each transaction.

    2.     Note down the office account no of RD default.

    3.     Note down the office account number of agent commission and agent commission TDS.

Please make sure that you are observing the things which I tell you to do in the office. It’s essential in this learning process.

Point to remember

    1.     Every transaction will have 2 entries. (a debit entry and a credit entry)

    2.     Every office will have some office accounts. There are more than 500 office accounts in every office.

     3.     Different office accounts are used for different purposes.