VIRTUAL ACCOUNT STRUCTURE

The implementation of Virtual Account structures provides corporates better visibility and greater control over cash. It allows corporate the ability to reexamine funds allocation quickly and look for opportunities to implement a payment or collection.

You can create & view the virtual account structure in both tabular as well as map view.

This feature allows following:

You are here How to reach here:

Toggle Menu > Virtual Account Management > View Structure
OR
Toggle Menu > Virtual Account Management > Overview > Account Structure

Create Virtual Account Structure

To create virtual account structure:

  1. In the Structure Code field, enter the structure code.
  2. In the Structure Name field, enter the name of the structure.
  3. From the Real/ Virtual Multi-Currency Account Number list select the appropriate account number.
  4. From the Header Account Number list, select the header account number.
  5. Move the Interest Calculation Required slider to avail the interest calculation.

Field Name

Description

Structure Code

Indicates the structure code.

Structure Name

The structure name corresponding to the structure code.

Real/ Virtual Multi-Currency Account Number

Real/ Virtual Multi-CurrencyClosedA generally accepted form of money, including coins and paper notes, which is issued by a government and circulated with in an economy. account number under which the structure is to be created.

Header Account Number

Header account number, which is the top most virtual account in the structure.

Interest Calculation Required

Indicates whether interest calculation is required at a structure level.
  1. Click Build Structure. The Virtual Accounts Structure screen is displayed.

    OR

    Click Cancel to cancel the transaction.

Field Name

Description

Account Details

Real Entity ID & Name

Displays the real entity ID and name to which the virtual account structure is to be mapped.

Structure Code

Displays the structure code.

Structure Name

Displays the structure name corresponding to the structure code.

Real Account Number

Name of the real account holder.

Create Structure functionality is available in both Tree and Table view. Below fields are available / applicable for both the views.

Virtual Account Number

Displays the virtual account number.

Virtual Account Name

Displays the virtual account name corresponding to the virtual account number.

Action

Click to link or remove child accounts under the virtual account number.

Note:
1. Click Zoom In / Zoom Out respectively to zoom in and zoom out.
2. Click Fit To Page to fit the tree structure to the page.

  1. The Review screen appears. Verify the details and click Preview Structure.
    OR
    Click Cancel to cancel the transaction.
    OR
    Click Back to navigate to the previous screen.
  2. Click Confirm to create the virtual account structure.
    OR
    Click Cancel to cancel the transaction.
    OR
    Click Back to create virtual account structure.
  3. The success message of virtual account structure creation appears along with the reference number.Click Ok to navigate to the virtual account dashboard screen.
    OR
    Click Go to Dashboard to navigate to the application dashboard screen.
    OR
    Click Create more Structure to create virtual structure.

View Virtual Account Structure

By default all the virtual account structures are displayed. In case if you wish to search a particular virtual account structure, you can do so by entering the search criteria.

To view virtual account structure:

  1. In the Structure Code field, enter the virtual structure code.
    OR
    In the Structure Name field, enter the virtual structure name.
  2. Click Search to view virtual account structure.

    The search result corresponding to the search criteria is displayed.

    OR

    Click Clear to clear the search criteria.

    OR

    Click Cancel to cancel the transaction.

Field Name

Description

Virtual Account Structure

Real Customer Name

Real customer name is displayed.

Real Account Number

Real account number of the customer is displayed.

Structure Code

Structure code corresponding to the real account is displayed.

Structure Name

Structure name corresponding to the real account is displayed.

Structure List

Structure Code & Name

Displays the structure code and name.

Header Account Number

Displays the header account number to which all the child accounts are linked.

Real Account Number

Displays the real account number linked to the structure.

Available Balance

Displays the available balance at structure level.

Creation Date

Displays the structure creation date.

Child Accounts

Displays the total count of virtual accounts linked to the structure.

Note:
1. Click Zoom In / Zoom Outrespectively to zoom in and zoom out.
2. Click Fit To Page to fit the tree structure to the page.

Field Name

Description

Virtual Account Structure

Real Customer Name & ID

Real customer name and ID is displayed.

Structure Code

Structure code corresponding to the real account is displayed.

Structure Name

Structure name corresponding to the real account is displayed.

Real Account Number

Real account number of the customer is displayed.

View Structure functionality is available in both Tree and Table view. Below fields are available / applicable for both the views.

Virtual Account Number

Displays the virtual account numbers.

Virtual Account Name

Displays the virtual account name corresponding to the virtual account number.

Account Linked

Displays the linked virtual account in a structure.

Instruction

Click the link to view the virtual account Balance details.

Account Balance Details

Account Number

Displays the account number.

Account Currency

Displays the account currency.

Own Balance

Displays the balance in the virtual account.

Child contribution

Contributions made by the sub linked virtual accounts.

Currency wise Child Contribution

Displays currency wise child contribution.

Blocked Child Contributions

The blocked amount of the sub linked virtual accounts.

Blocked Amount

Displays the blocked amount, which cannot be utilized.

Unauthorized Debit

Displays the unauthorized debit amount.

Overdraft Amount

Overdraft amount on the virtual account.

Available Balances

Displays the Available BalanceClosedThe available balance is the account balance in the account that is available for immediate use at any given point of time. in the Virtual account.

Benefit From Pool

The beneficial amount available in the pool contributed by different accounts.

Effective Available Balance

Available balance in the virtual account.

Unauthorized Credit

Displays the unauthorized credit amount.

Edit Virtual Account Structure

To edit virtual account structure:

  1. Navigate to the View Virtual Account Structure and in the Structure Code field, enter the virtual account structure code whose details you want to edit.
    OR
    In the Structure Name field, enter the name of the virtual account structure whose details you want to edit.
    OR
    Click the desired record under the Structure Code & Name column. The record details are displayed.
  2. Click Search. The search results appear based on the search parameters defined.

    OR

    Click Clear if you want to reset the search parameters.

    OR

    Click Cancel if you want to cancel the transaction
  3. Click the link under the Structure Code & Name column. The structure code details are displayed.
  4. Click Edit. The Virtual Account - Edit screen is displayed.

Field Name

Description

Edit Structure functionality is available in both Tree and Table view. Below fields are available / applicable for both the views.

Structure Code

Indicates the structure code.

Structure Name

The structure name corresponding to the structure code.

Real/ Multi-Currency Account Number

Real/ Multi-Currency account number under which structure is to be updated.

Note: User cannot change the Real/VMCA account number in a structure until all linked Virtual accounts are zeroised and removed

Balance

Current balance in the selected Real/Multi-Currency account.

Header Account Number

Header account number under which the structure is to be updated.

Interest Calculation Required

Indicates whether interest calculation is required ta structure level.
  1. Modify the appropriate details.
  2. Click Build Structure. The Virtual Accounts Structure screen is displayed.
    OR
    Click Cancel to cancel the transaction.
    OR
    Click Back to navigate to the previous screen.

Note: Click Link or Remove to link or remove a virtual account. Virtual Account in a structure can only be removed when its own balance and all the linked child account balances is zero .

  1. Click Submit to update the virtual account structure.
    OR
    Click Cancel to cancel the transaction.
    OR
    Click Back to navigate back to previous screen.
  2. The Review screen appears. Verify the details and click Preview Structure.
    OR
    Click Cancel to cancel the transaction.
    OR
    Click Back to navigate to the previous screen.
  3. Click Confirm to update the virtual account structure.
    The success message of virtual account structure updation appears along with the reference number.
    OR
    Click Cancel to cancel the transaction.
    OR
    Click Back to create virtual account structure.
  4. Click Ok to navigate to the virtual account dashboard screen.
    OR
    Click Go to Dashboard to navigate to the application dashboard screen.
    OR
    Click Create more Structure to create virtual structure.

Delete Virtual Account Structure

To delete virtual account structure:

  1. Navigate to the View Virtual Account Structure and in the Structure Code field, enter the virtual account structure code whose details you want to delete.
    OR
    In the Structure Name field, enter the name of the virtual account structure whose details you want to edit.
    OR
    Click the desired record under the Structure Code & Name column. The record details are displayed.
  2. Click Search. The search results appear based on the search parameters defined.
    OR
    Click Clear if you want to reset the search parameters.
    OR
    Click Cancel if you want to cancel the transaction.
  3. Click the link under the Structure Code & Name column. The structure code details are displayed.
  4. Click Delete. A message is displayed prompting for record deletion.

Note:
1. You can delete a node in a structure only if its own balance and all its child accounts balances are zero. It will only delete a virtual account from the structure and not close the Virtual account.
2. Click Zoom In / Zoom Outrespectively to zoom in and zoom out.
3. Click Fit To Page to fit the tree structure to the page.

  1. Click Yes to delete the virtual account structure. The success message of Virtual Account Structure deletion is displayed along with the reference number.

    OR

    Click No if you do not wish to delete the Virtual Account Structure.
  2. Click Ok to navigate to the virtual account dashboard screen.
    OR
    Click Go to Dashboard to navigate to the application dashboard screen.

FAQs

ClosedHow do I create a Virtual Account structure?

You need to first select a real account under which you want to create a structure .In the structure ,there will be a Virtual Account, which sits on the top as a Header Account under which you can start linking child accounts. You can create one structure at a time however there is no upper limit of adding child accounts to a parent account.

ClosedCan I create a Virtual account structure in different views?

Yes, you can create a Virtual Account structure in tree view or in tabular view. You can also switch the view anytime during the creation to one way or the other.

ClosedCan I edit a Virtual account structure in different views?

No, you can only create, view & delete a Virtual Account structure in both table & tree format. Edit Structure in Tree view is currently not supported and can only be performed in Table view.

ClosedWill I be able to access virtual Accounts structure on all the browsers?

No, virtual Accounts structure is not supported on any version of Internet Explorer.

ClosedWill I be able to view the details of all the virtual account structures even if I have access to few of the linked virtual accounts?

No, you will not be able to view any details of a Virtual accounts structure where you do not have access to even one of the linked Virtual accounts.
Note: Dashboard will show the complete count of all the structures in Accounts & Balances widget however, Structure summary & details page will show the data of only the accessible structures.

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