This chapter contains the following sections:
The following are the events defined for the PC module:
Event Code | Event Description | Remarks | ||||||
---|---|---|---|---|---|---|---|---|
BOOK | Transaction Booking | This event signifies the transaction’s entry into the system. | ||||||
INIT | Transaction Initiation | Involves Product Resolution, Default of Product Parameters, Dates Resolution. | BOOK and INIT are automatic events for transactions uploaded from Electronic Banking | Auto authorization is done for uploaded contracts if the amount is within the limit defined for the upload source-product category. | For the manual input transactions, BOOK is done on SAVE and INIT is automatic. INIT can also be done manually. | |||
DRFX | Exchange Rate Population – Outgoing (Only Payments) | The events DRFX occur before the customer leg of accounting (provided the customer leg is the debit leg) | The system triggers these events automatically if the amount is within the limit specified for the customer Agreement / Product / Currency. Else, you will have to trigger them manually. | |||||
DRLQ | Debit Entry Liquidation | The system triggers the event automatically and initiates the debit entry either to the customer account or to the clearing suspense account (based on the type of transaction). | ||||||
DRCO | Debit Entry Consolidation | For debit transactions to the customer account that require consolidation this event is automatically triggered. | ||||||
CRCO | Credit Entry Consolidation | This event is triggered automatically for all credit transactions to the customer account that require consolidation. | ||||||
CRFX | Exchange Rate Population – Incoming (Only payments) | The events CRFX occur before the customer leg of accounting (provided the customer leg is the credit leg) | The system triggers these events automatically if the amount is within the limit specified for the customer Agreement / Product / Currency. Else, you will have to trigger them manually. | |||||
CRLQ | Credit Entry Liquidation | The system triggers the event automatically and initiates the credit entry either to the customer account or to the clearing suspense account (based on the type of transaction) | ||||||
RJBS | Reject prior to Inter bank settlement | In the case of Outgoing payment this event happens prior to the interbank settlement of the outgoing payment. | In the case of Outgoing Collection this event is processed before the due date of an outgoing collection. | In the case of Incoming Collection this event is processed before the due date of an incoming collection. | ||||
REJT | Reject | In the case of outgoing payment this event is processed when a rejection message is received after the interbank settlement date of the outgoing payment. | In the case of incoming payment this event is triggered with in the payment rejection date. | |||||
REVP | Reverse | This event is triggered on receiving the reverse of Incoming collection transactions. | ||||||
AMND | Amend | This event is triggered whenever an authorized contract, for which either DRLQ or CRLQ or DCLG events are not triggered, is modified. |
The following list contains details of the accounting Roles that are applicable to the PCs you can process at your bank.
Accounting Role | Description | Role Type | |||
---|---|---|---|---|---|
INTSUSREC | Internal Suspense Receivable | Asset | |||
CLGSUSREC | Clearing Suspense Receivable | Asset | |||
INTSUSPAY | Internal Suspense Payable | Liability | |||
CLGSUSPAY | Clearing Suspense Payable | Liability | |||
CLGVOSTRO | Clearing VOSTRO (this could be used instead of using CLGSUSPAY and CLGSUSREC if a VOSTRO has been designated to be used and not a suspense GL) | Settlement | |||
CHG1_INC | Charge 1 Income | Income | |||
CHG2_INC | Charge 2 Income | Income | |||
CHG3_INC | Charge 3 Income | Income | |||
CHG4_INC | Charge 4 Income | Income | |||
CHG5_INC | Charge 5 Income | Income | |||
COMPACC | Compensation Account for Recall Transactions | X (User Defined) | |||
CHARGEACC | Charge Account for Reject/Recall Transactions | X (User Defined) | |||
P2PCUSTTFR | Customer Debit for P2P Payments | Liability | |||
P2PTESTEX | Test transaction for P2P Payments | Expense |
This section contains the following topics:
For your convenience we have listed the Events and Accounting Entries, which need to be defined for the various product types that can be maintained for this module. The Events that you need to set up for the various types of Payment and Collection products are as follows:
Outgoing Payment
You will need to define the following events while defining an Outgoing Payment product:
Incoming Payment
You will need to define the following events while defining an Incoming Payment product:
Outgoing Direct Debit
You will need to define the following events while defining an Outgoing Direct Debit product:
Incoming Direct Debit
Reject of Incoming Direct Debit
Reject of Outgoing Direct Debit
Recall of Incoming Direct Debit
Recall of Outgoing Direct Debit
Outgoing Request for Debit
Incoming Request for Debit
Approval of Incoming Request for Debit (Outgoing Payment)
Approval of Outgoing Request for Debit (Incoming Payment)
Reject of Incoming Request for Debit
Reject of Outgoing Request for Debit
Reject of Outgoing Payments
Reverse of Incoming Collection
Reverse of Outgoing Collection
DRLQ: Debit Entry Liquidation for Payments
While triggering this event for Outgoing payment transactions the system posts a debit entry to the customer account. In the case of incoming transactions the debit entry will be posted to the Clearing Suspense account.
Those contracts satisfying the following parameters will be picked up for processing based on their priority.
Entries posted for Outgoing transfers will be as follows:
Accounting Role | Dr./Cr. Indicator | ||
---|---|---|---|
Customer Account | Debit | ||
Internal Suspense Payable – | Credit |
Entries posted for Incoming transfers will be as follows:
Accounting Role | Dr./Cr. Indicator | ||
---|---|---|---|
Clearing Suspense Receivable (or Clearing Vostro) | Debit | ||
Internal Suspense Receivable– | Credit |
Note
If the entry dates of the debit and credit legs are the same, the system will not pass the entry to the Internal Suspense account. Also, for transactions marked for client entry consolidation, a single debit entry to the customer’s account will be passed. The system generates a new reference number for the consolidation and the accounting entries will be passed using this reference number.
Entries posted for Debit Notification will be as follows:
Accounting Role | Dr./Cr. Indicator | ||
---|---|---|---|
Interbank Receipt GL | Debit | ||
Intermediary GL | Credit |
Entries posted for Credit Notification will be as follows:
Accounting Role | Dr./Cr. Indicator | ||
---|---|---|---|
Network GL (NOSTRO) |
Debit |
||
Intermediary GL |
Credit |
If the contract is moved to release queue for ‘DRLQ’ event, then the following account entries are passed:
Event | Account | Debit/Credit | Amount | ||||
---|---|---|---|---|---|---|---|
DRLQ | Customer Account | Debit | Transaction Amount | ||||
DRLQ | Intermediary GL | Credit | Transaction Amount |
CRLQ: Credit Entry Liquidation for Payments
During this event a credit entry will be posted to the Internal/Clearing Suspense account for outgoing transactions. The entry will be posted to the customer account for incoming transactions.
Based on their priority, the system picks up all active and authorized contracts if:
Entries posted for Outgoing transfers will be as follows:
Accounting Role | Dr./Cr. Indicator | ||
---|---|---|---|
Internal Suspense Payable– | Debit | ||
Clearing Suspense –Payable (or Clearing Vostro) | Credit |
Entries posted for Incoming transfers will be as follows:
Accounting Role | Dr./Cr. Indicator | ||
---|---|---|---|
Internal Suspense –Receivable | Debit | ||
Customer Account | Credit |
Entries posted for Debit Notification will be as follows:
Accounting Role | Dr./Cr. Indicator | ||
---|---|---|---|
Intermediary GL | Debit | ||
Network GL (NOSTRO) | Credit |
Entries posted for Credit Notification will be as follows:
Accounting Role | Dr./Cr. Indicator | ||
---|---|---|---|
Intermediary GL |
Debit |
||
Interbank Receipt GL |
Credit |
If the contract is moved to release queue for ‘CRLQ’ event, then the following account entries are passed:
Event | Account | Debit/Credit | Amount | ||||
---|---|---|---|---|---|---|---|
CRLQ | Intermediary GL | Debit | Transaction Amount | ||||
CRLQ | Outgoing Network GL (NOSTRO) | Credit | Transaction Amount |
If the incoming payment or return of outgoing payment is suspended from the incoming authorization queue then system will process the ‘CRLQ’ event with following accounting entries:
Event | Account | Debit/Credit | Amount | ||||
---|---|---|---|---|---|---|---|
CRLQ | Intermediary GL | Debit | Transaction Amount | ||||
CRLQ | Unsettle GL (will be picked up from Product Category) | Credit | Transaction Amount |
If the incoming payment or return of outgoing payment is authorized from the repair queue then system will not post any accounting entries and the transaction will be moved into incoming authorization queue.
If the transaction is completely authorized from the incoming authorization queue, i.e., if the transaction does not fall on any exception queue, then system will process the ‘CRLQ’ event and pass the following accounting entries:
Event | Account | Debit/Credit | Amount | ||||
---|---|---|---|---|---|---|---|
CRLQ | Intermediary GL | Debit | Transaction Amount | ||||
CRLQ | Customer Account | Credit | Transaction Amount |
If the contract does not require any manual authorization or release action then both ‘DRLQ’ and ‘CRLQ’ event will be processed and following accounting entries are passed:
Event | Account | Debit/Credit | Amount | ||||
---|---|---|---|---|---|---|---|
DRLQ | Customer Account | Debit | Transaction Amount | ||||
DRLQ | Intermediary GL | Credit | Transaction Amount | ||||
CRLQ | Intermediary GL | Debit | Transaction Amount | ||||
CRLQ | Outgoing Network GL (NOSTRO) | Credit | Transaction Amount |
If the transaction does not fall in to any of the exception queues, then both ‘DRLQ’,’CRLQ’ will be processed and following accounting entries are passed:
Event | Account | Debit/Credit | Amount | ||||
---|---|---|---|---|---|---|---|
DRLQ | Incoming Network GL (NOSTRO) | Debit | Transaction Amount | ||||
DRLQ | Intermediary GL | Credit | Transaction Amount | ||||
CRLQ | Intermediary GL | Debit | Transaction Amount | ||||
CRLQ | Customer Account | Credit | Transaction Amount |
If the transaction falls on incoming authorization queue then ‘DRLQ’ event will be processed and following accounting entries are passed:
Event | Account | Debit/Credit | Amount | ||||
---|---|---|---|---|---|---|---|
DRLQ | Incoming Network GL (NOSTRO) | Debit | Transaction Amount | ||||
DRLQ | Intermediary GL | Credit | Transaction Amount |
If the transaction is moved from exception TA to exception T1 while authorizing the transaction from incoming authorization queue then system will not post any accounting entries.
The accounting entries posted for ‘Outgoing Payment’ for which the P2P payment type is ‘Customer Debit’ is as follows:
Event | DR / CR | Accounting Role | Amount Tag | ||||
---|---|---|---|---|---|---|---|
DRLQ | DR | CUSTOMER | TFR_AMT | ||||
DRLQ | CR | INTSUSPAY | TFR_AMT | ||||
CRLQ | DR | INTSUSPAY | TFR_AMT | ||||
CRLQ | CR | P2PCUSTTFR | TFR_AMT |
The following accounting entries can be defined for Outgoing Payment for which the P2P payment type is test transaction:
Event | DR / CR | Accounting Role | Amount Tag | ||||
---|---|---|---|---|---|---|---|
DRLQ | DR | P2PTESTEX | TFR_AMT | ||||
DRLQ | CR | INTSUSPAY | TFR_AMT | ||||
CRLQ | DR | INTSUSPAY | TFR_AMT | ||||
CRLQ | CR | CLGSUSPAY | TFR_AMT |
The accounting entries posted for ‘Outgoing Payment’ for which the P2P payment type is ‘P2P Final Payment’ is as follows:
Event | DR / CR | Accounting Role | Amount Tag | ||||
---|---|---|---|---|---|---|---|
DRLQ | DR | CUSTOMER | TFR_AMT | ||||
DRLQ | CR | INTSUSPAY | TFR_AMT | ||||
CRLQ | DR | INTSUSPAY | TFR_AMT | ||||
CRLQ | CR | CLGSUSPAY | TFR_AMT |
The following accounting entries can be defined for Reject of Outgoing Payment for which the P2P payment type is P2P final payment:
Event | DR / CR | Accounting Role | Amount Tag | ||||
---|---|---|---|---|---|---|---|
DRLQ | DR | CLGSUSREC | TFR_AMT | ||||
DRLQ | CR | INTSUSREC | TFR_AMT | ||||
CRLQ | DR | INTSUSREC | TFR_AMT | ||||
CRLQ | CR | CUSTOMER | TFR_AMT |
The CRLQ event of the PC contracts where FATCA withholding has been determined will have the following entries
Event | DR / CR | Amount Type | Account | ||||
---|---|---|---|---|---|---|---|
CRLQ | DR | Payment Amount (Consolidated) | Suspense GL | ||||
CRLQ | CR | Payment Amount (Consolidated) | Settlement Account/GL | ||||
CRLQ | DR | FATCA Tax | Settlement Account/GL | ||||
CRLQ | CR | FATCA Tax | Tax GL/Escrow GL |
DRLQ: for Outgoing Collection, Reject of Outgoing Collection and Recall of Incoming Collection products
The following accounting entries can be defined for outgoing collection, reject of outgoing collection and recall of incoming collection products:
Event Code | Accounting Role | Amount Tag | Dr/Cr | ||||
---|---|---|---|---|---|---|---|
DRLQ | CLGSUSREC | TFR_AMT | Debit | ||||
INTSUSPAY | TFR_AMT | Credit | |||||
CRLQ | INTSUSPAY | TFR_AMT | Debit | ||||
BENEFICIARY | TFR_AMT | Credit |
DRLQ: for Incoming Collection, Reject of Incoming Collection and Recall of Outgoing Collection products
The following accounting entries can be defined for incoming collection, reject of incoming collection and recall of outgoing collection products:
Event Code | Accounting Role | Amount Tag | Dr/Cr | ||||
---|---|---|---|---|---|---|---|
DRLQ | REMITTER | TFR_AMT | Dr | ||||
INTSUSREC | TFR_AMT | Cr | |||||
CRLQ | INTSUSREC | TFR_AMT | Dr | ||||
CLGSUSPAY | TFR_AMT | Cr |
DRLQ: for Recall of Incoming Collection Products
The following accounting entries can be defined for recall of incoming collection products:
Event Code | Accounting Role | Amount Tag | Dr/Cr | ||||
---|---|---|---|---|---|---|---|
DRLQ | CLGSUSREC | INT_AMT | Debit | ||||
COMPACC | INT_AMT | Credit |
DRLQ: for Recall of Outgoing Collection Products
The following accounting entries can be defined for recall of outgoing collection products:
Event Code | Accounting Role | Amount Tag | Dr/Cr | ||||
---|---|---|---|---|---|---|---|
CRLQ | COMPACC | INT_AMT | Debit | ||||
CLGSUSPAY | INT_AMT | Credit |
Reject of Outgoing payments
The following entries can be defined for reject of outgoing payments:
Event Code | Accounting Role | Amount Tag | Dr/Cr | ||||
---|---|---|---|---|---|---|---|
DRLQ | CLGSUSREC | TFR_AMT | Dr | ||||
INTSUSREC | TFR_AMT | Cr | |||||
CRLQ | INTSUSREC | TFR_AMT | Dr | ||||
CUSTOMER | TFR_AMT | Cr |
Reject of Incoming payments
The following entries can be defined for reject of incoming payments:
Event Code | Accounting Role | Amount Tag | Dr/Cr | ||||
---|---|---|---|---|---|---|---|
DRLQ | CUSTOMER | TFR_AMT | Dr | ||||
INTSUSPAY | TFR_AMT | Cr | |||||
CRLQ | INTSUSPAY | TFR_AMT | Dr | ||||
CLGSUSPAY | TFR_AMT | Cr |
For reject of Incoming Payments (IN) contracts following accounting entries will be posted for DRLQ and CRLQ events:
Event | Account | Debit/Credit | Amount | ||||
---|---|---|---|---|---|---|---|
DRLQ | Unsettle GL | Debit | Transaction Amount | ||||
DRLQ | Intermediary GL | Credit | Transaction Amount | ||||
CRLQ | Intermediary GL | Debit | Transaction Amount | ||||
CRLQ | Outgoing Network GL (NOSTRO) | Credit | Transaction Amount |
Reverse of Outgoing collections
The following entries can be defined for reverse of outgoing collections:
Event Code | Accounting Role | Amount Tag | Dr/Cr | ||||
---|---|---|---|---|---|---|---|
DRLQ | CUSTOMER | TFR_AMT | Dr | ||||
INTSUSREC | TFR_AMT | Cr | |||||
CRLQ | INTSUSREC | TFR_AMT | Dr | ||||
CLGSUSPAY | TFR_AMT | Cr |
Reverse of Incoming collections
The following entries can be defined for reverse of incoming collections:
Event Code | Accounting Role | Amount Tag | Dr/Cr | ||||
---|---|---|---|---|---|---|---|
DRLQ | CLGSUSREC | TFR_AMT | Dr | ||||
INTSUSPAY | TFR_AMT | Cr | |||||
CRLQ | INTSUSPAY | TFR_AMT | Dr | ||||
CUSTOMER | TFR_AMT | Cr |
If the incoming payment is rejected from the incoming authorization queue then system will process ‘CRLQ’ event and pass the following accounting entries:
Event | Account | Debit/Credit | Amount | ||||
---|---|---|---|---|---|---|---|
CRLQ | Intermediary GL | Debit | Transaction Amount | ||||
CRLQ | Unsettle GL(will be picked up from Product Category) | Credit | Transaction Amount |
If the incoming payment is rejected from the repair queue then system will process ‘CRLQ’ event and pass the following accounting entries:
Event | Account | Debit/Credit | Amount | ||||
---|---|---|---|---|---|---|---|
CRLQ | Intermediary GL | Debit | Transaction Amount | ||||
CRLQ | Suspense GL | Credit | Transaction Amount |
If the contract is reversed from Release queue, then contract will be reversed and the following accounting entries are passed:
Event | Account | Debit/Credit | Amount | ||||
---|---|---|---|---|---|---|---|
REVR | Customer Account | Debit | Negative transaction Amount | ||||
REVR | Intermediary GL | Credit | Negative transaction Amount |
If the contract is reversed from Authorization (A1, A2) queues, then the system will not process any accounting entries.
The consolidated debit entry is posted to the customer account during the DRLQ event. The entries posted will be as follows:
Event | Debit/Credit | Amount Type | Account | ||||
---|---|---|---|---|---|---|---|
DRLQ | Debit | Payment Amount (Consolidated) | Customer A/c | ||||
DRLQ | Credit | Payment Amount (Consolidated) | Suspense GL |
Customer Consolidation Across Products
For transactions with ‘Customer Consolidation Across Products’ as checked, system triggers the DRLQ/CRLQ entries during file consolidation batch closure. A single debit entry is posted to the Customer account for the total file consolidation batch amount and individual credit entries are passed to the internal suspense account for each transaction amount.The Amount tag “FILE_AMT” is used for consolidation across products which denotes the total File amount or transaction amount that are considered for Consolidation.
During file level consolidation, for DRLQ event, the accounting entry reference no. for the debit leg will be based on the process code 'ZFCN' and the credit leg for the individual transfer amount will be based on the corresponding product code of the transaction.
The accounting entries for PC transactions with customer consolidation across products is as follows:
For Outgoing Payment
Event Code | Accounting Role | Amount Tag | Dr/Cr | ||||
---|---|---|---|---|---|---|---|
DRLQ | CUSTOMER | FILE_AMT | Dr | ||||
DRLQ | INTSUSPAY | TFR_AMT | Cr |
Event Code | Accounting Role | Amount Tag | Dr/Cr | ||||
---|---|---|---|---|---|---|---|
CRLQ | INTSUSPAY | TFR_AMT | Dr | ||||
CRLQ | CLGSUSPAY | TFR_AMT | Cr |
For Outgoing Collection
Event Code | Accounting Role | Amount Tag | Dr/Cr | ||||
---|---|---|---|---|---|---|---|
DRLQ | CLGSUSREC | TFR_AMT | Dr | ||||
DRLQ | INTSUSPAY | TFR_AMT | Cr |
Event Code | Accounting Role | Amount Tag | Dr/Cr | ||||
---|---|---|---|---|---|---|---|
CRLQ | INTSUSPAY | TFR_AMT | Dr | ||||
CRLQ | CUSTOMER | FILE_AMT | Cr |
For Reversal of Outgoing Collection
Event Code | Accounting Role | Amount Tag | Dr/Cr | ||||
---|---|---|---|---|---|---|---|
DRLQ | CUSTOMER | FILE_AMT | Dr | ||||
DRLQ | INTSUSPAY | TFR_AMT | Cr |
Event Code | Accounting Role | Amount Tag | Dr/Cr | ||||
---|---|---|---|---|---|---|---|
CRLQ | INTSUSPAY | TFR_AMT | Dr | ||||
CRLQ | CLGSUSREC | TFR_AMT | Cr |
The following list of advices can be generated for the various events that get triggered during the life cycle of a PC transaction.
Event code | Advice | ||
---|---|---|---|
INIT | REMIT_SLIP | ||
CRLQ | CREDIT_ADVICE | ||
APPR | APPROVAL_ADVICE | ||
REJT | REJECTION_ADVICE | ||
CLOS | CLOSURE_ADVICE | ||
RECL | RECALL_ADVICE | ||
DRLQ | DEBIT_ADVICE | ||
APPR | APPROVAL_ADVICE | ||
REJT | REJECT_ADVICE | ||
RECL | RECALL_ADVICE |
The following advices will be generated for collection transactions
If we receive the Credit Acknowledgement message for our outgoing payment contracts then system will update the message status of the corresponding outgoing payment contract as ‘CD’ (Credit Done).
For Incoming Payments
The system will generate the outgoing Credit Acknowledgment (N10) message for incoming payment contract. After processing the CRLQ event, system will generate the ‘Credit Acknowledgement Message’ for the incoming payment contract. This process will group the number of incoming payment contracts and generates the single ‘Credit Acknowledgement Message’ for those contracts (Number of contracts for group will be parameterized in product maintenance).
Message Format
The system will support the following credit acknowledgement messages:
M/O | Field No | Field Name | Contents / Options | Description | ||||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
M | 2020 | Transaction Reference Number | 16x | Uniquely identifies the message. | ||||||||||
Repeating Group Begins | ||||||||||||||
M | 2020 | Transaction Reference Number | 16x | Uniquely identifies the transaction. (loop) | ||||||||||
M | 5518 | IFSC of Originator of Remittance | 4!a4!c[3!c] | IFSC of Debit Originator | ||||||||||
M | 2006 | Related Reference | 16x | For inward N10 message (received for our outgoing payment), Transaction reference number of the original N06 message | For outward N10 message (generated for the incoming payment which we received), we need to populate the Transaction reference number of the incoming payment message (N02) | |||||||||
M | 3501 | Amt Credited Time | 8!n | 6!n | Date and Time when the amount is credited to the customer | 8!n is the credited date | YYYYMMDD | 6!n is the credited time | HHMISS | |||||
Repeating Group Ends |