Finacle Training Lesson-12[The Power of HTM menu] in DOP Finacle

Recap:

In the previous lesson we have studied in detail about PPF deposits. In this lesson we will learn about interest withdrawal procedures.

I recommend you to please read all the lessons before this lesson once again so that you remember well. From this lesson things will become a little tough. It’s important that you have everything in mind about what is taught till now.

Importance of Saving Accounts.

You guys might have observed in Banks, that if we go to make a fixed deposit they will first tell us to open a SAVINGS ACCOUNT. They will not accept any transaction from us until we open a savings account in their bank.

But that practice is not there in our post offices. If a customer comes for RD account we will open it without forcing the customer to open SB account. Same is the case for other account openings also.

I don’t say that the procedure we follow in our post offices is wrong, but it is not correct also. Since in this technologically advanced periods opening a Savings account will save lot of time and energy of counter staff. Wait do you think I have typed wrong by saying counter staff? Do you think opening of Savings account will only benefit customers? No absolutely not!

If customers open Savings accounts, then it will hugely reduce our work in the counters. Yes it’s true. You will know why I’m saying this after I complete this lesson.

MUST READ : STEPS TO FOLLOW TO PREVENT FRAUDS IN CBS POST OFFICES

If customer has a saving account, all the interests from MIS/TD/SCSS accounts will automatically get credited in the customers SB account. Customer can then withdraw the amount without coming to post offices also.

Yes they can withdraw the amounts from ATMs, they can transfer the amount using our Internet banking services, and they can use our mobile apps to make transactions. All these alternate ways of doing transactions are called as CHANNELS. So using different channels provided by Finacle, customers can complete their transactions without coming to post office also.

So since customers are not coming to post office to make all transactions, there will be huge relief for the entire counter PAs. So what we recommend is let’s work hard this one year and try to open SB accounts to all the existing customers. Even for new customers let’s first encourage them to open SB account before we do any other transactions.

Even in BOs thousands of accounts are opened. For 100 rs ten accounts are opened. Even for those accounts if you can open SB accounts and auto credit RD account from SB accounts, offices with BOs will be hugely relieved from work.

Now since we don’t have this practice of opening of SB accounts in office we will see the difficulties one by one.

Interest withdrawal transactions.

In case of SB withdrawal we would simply invoke CTM, enter account id and amount and click on submit. That’s it transaction is over. But here interest withdrawal is a lengthy process.

I hope you remember in the lesson 7 and 8 we have discussed about office accounts. If you don’t remember please refer to those lessons once.

In case of MIS/SCSS/TD the interest which is due every month/quarter/year will be automatically deducted from the respective account on the due date. This interest amount from MIS/SCSS/TD should actually be credited into the SB account of the customer. If it is auto credited to SB account we can use CTM to simply withdraw the amount from SB account.

But for those MIS/SCSS/TD accounts where SB accounts are not available the interest amount which is due will credited into the respective SUNDRY ACCOUNTS.

For example, MIS interest which is due every month will be credited into MIS Sundry account (SOL ID+0337) on the due date.

Similarly SCSS interest which is due every quarter will be credited into SCSS Sundry account (SOL ID+0338) on the due date.

Finally TD interest which is due every year will be credited into TD Sundry account (SOL ID+0335) on the due date.

Even for 1 year TD interest will be credited into TD sundry account on the date of maturity.

So the interest amount which is due in MIS/SCSS/TD accounts is actually should be withdrawn from MIS/SCSS/TD sundry accounts.

I hope you are getting my point.

MIS interest is withdrawn from MIS sundry account, SCSS interest is withdrawn from SCSS sundry account and TD interest is withdrawn from TD sundry account.

This process of withdrawing interest from respective sundry accounts is called as Interest Reversal. Interest is already withdrawn and credited into sundry account; we have to reverse this transaction from sundry account to make the payment to customer.

So let’s see how the reversal process is done.

Invoke the menu HTM and you will see the following screen. See the image below.

In this screen also we have to Choose Function Code and Transaction Type/Subtype. Here in HTM transaction type means whether you are making payment by cash or making payment by transferring the amount to customer’s POSB account or making payment by giving RBI cheque.

For making cash payments we have to select Transaction Type/ Subtype as C/NP – Cash/Normal Payment. 

For payments by transfer to POSB accounts and payments by RBI cheque please select Transaction Type/ Subtype as T/CI Customer Induced. 

We will see about the last option C/CT – Cash/Cash Transfer later. It is not used in interest withdrawal transactions.

So let’s do an MIS withdrawal transaction by cash first, and see how the process takes place.

So choose Function Code as ADD, and select Transaction Type/ Subtype as C/NP – Cash/Normal Payment since we are making interest payment by cash and click on GO. You will get the screen as shown in the image below. See the image below.

As you can see in the above image the form seems very complicated. For your information I’ll tell you that we can do all transaction like SB dep/wdl, RD dep, PPF dep etc can be done in HTM menu. But you need to know how to enter the correct debit and credit entries. Don’t worry we already have easy menus for those transactions.

In this screen there are so many fields. But the good news is you have to enter only 3 fields as I have shown in the image

Enter A/c ID as MIS Sundry account ID. (SOL Id +0337). Then enter the amount and lastly enter the actual MIS account number in Reference number field.

How to check the signature for making withdrawal then? Simple! If you want to check the signature of the customer, before entering the MIS sundry account ID in A/c Id field enter the actual MIS account number and press F9. System will show you the signature when you press F9. After confirming the signature delete the actual MIS account id in the A/c id field and then again enter the MIS Sundry account ID.

So

1. Enter MIS sundry ac number in A/c Id field.
2. Enter the amount in the Ref.CCY/Amt field. (Ref CCY means Reference currency. Since we are doing all transactions in rupees Ref.CCY will always be INR (Indian Rupees))
3. Enter actual MIS account number in Reference number as shown in the image.
4. Click on GO

Why click on GO instead of POST? In previous transactions we never clicked on GO. Let me explain why.

MIS sundry account will have deposits related to all those MIS accounts which do not have SB accounts linked to them. So while making reversal transaction from Sundry accounts we have to clearly mention about which MIS account, the reversal is taking place. So to tell Finacle about which MIS account we are making the reversal we have to enter some details which are called as ADDITIONAL PART TRANSACTION DETAILS.

If you see in the image it is already selected as Additional Part Tran Details. So when we click on GO a new screen will open where we can give the additional part transaction details about the transaction which we are doing.

So after you click on GO a new screen will appear as shown in the below image. See the image below.

The screen which we see above is the search screen. In MIS Sundry account there will be thousands of transactions relating to all those MIS accounts which do not save auto credit to SB. So to make it easy for us, a search screen will appear. Using this search screen we will search for that MIS interest transaction which was credited in MIS sundry account on the interest due date.

Before that Lets first know about the important terms in this screen

In this screen we are searching for all those transactions with reference to actual MIS account in MIS sundry account where transaction amount starts from 2000 to 2000.

Please understand the above statement carefully. If you see the image we have fields like START AMT, END AMT, REF NO, and FILTER.

We enter the actual MIS account number again in ref no field and Start amt, End amt fields automatically the amount which we entered in the first screen will come.

So what actually happening is System will search in MIS sundry account for transactions related to the MIS account which we entered in Ref no.

Sometimes an error will come as shown in the figure below.

I think many of you will be familiar with this error. When we get this error we simply delete the start amt and end amt. But why should we delete them?

The reason we are getting this error is, there are no transactions with reference to the MIS account number in Red No in sundry account where amount is 2000.

I hope you are getting my point.

So let’s say first we delete only Start amt. See the image below.

Since we have deleted Start amt. Finacle will now search for all those transactions in MIS sundry account with reference to the actual MIS account whose amount starts from 0 to 2000.

I hope you are following the point

Similarly let’s try deleting End amount and let’s see what finacle will do. See the image below.

When we delete the end amount Finacle will now search for all those transactions in MIS sundry account with reference to the actual MIS account whose amount starts from 2000 and it will show all transactions above 2000.

I’m sorry but this is all necessary. I know it’s a bit confusing. But to become an expert you should know all this stuff.

Now what will happen if we delete both Start amt and End amt? The answer is simple. Finacle will search for all the transactions in MIS sundry account with reference to the actual MIS account.

If you are getting confused, try these steps at your office. Try deleting Start amount once and End amount and both. See what happens. Check for different accounts. You will slowly understand what I’m trying to say.

Let’s complete this transaction first.

In the second screen just enter the Ref no and click on GO. The following screen will appear. See the image below.

In this screen we will see that interest entry which was deposited in MIS sundry account. To complete the transaction just click on the check box as shown in the image and click on accept.

Oh my god this single transaction is taking so much time to explain and the bad news is there is still so much to explain.

We will continue about this transaction in the next lesson. I request all of you to please read this lesson and the next lesson tomorrow so that you get good grip on all HTM transactions.

See you tomorrow.

• In order to know more details about HTM menu Click Here

Read more

1. Finacle Training Lesson 1 [Menus]

2. Finacle Training Lesson 2 [Login, Fincore]

3. Finacle Training Lesson 3 [On Screen Elements]

4. Finacle Training Lesson 4 [Function]

5.  Finacle Training Lesson 5 [ Nomenclature , User Interface]

6.  Finacle Training lesson 6 [ 2 Steps, 4 States]

7.  Finacle Training Lesson 7 [ Credits, Debits]

8.   Finacle Training Lesson 8 [ Office Accounts]

9. Finacle Training Lesson  9 [ Counter Transactions ] 

10. Finacle Training Lesson 10 [ SB withdrawal,RD deposit ]

11. Finacle Training Lesson 11 [ RD deposit by Cheque, PPF deposit by cash/cheque]

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