2.6.1 Perform Reversal of Transaction

User can initiate a reversal of the loan transaction only after the due diligence is completed on the loan account.

Users can trigger a disbursement reversal from the Transaction View and Reversal screen. Disbursement reversal to be triggered automatically, if return notification is received from payment system (for disbursement via ACH) mode. It also support reversal of subsequent disbursement.

Note:

The Reverse button is displayed, if the event is not already reversed.

To perform reversal of transaction:

1. To launch the screen, fetch account number, and view the account related transaction details, refer View Transaction Details.
2. From the Transaction View & Reversal screen, in the Transactions section, click from the Action field.
   The Transaction View & Reversal screen is displayed.

   
   Description of the illustration transaction-view-and-reversal_summary.png

3. User can view the transaction summary. For more information on fields, refer to field description table below:

   Table 2-10 Transaction Reversal - Summary – Field Description

   Field	Description
   Summary	This section displays the transaction summary of the account.
   Customer Name	Displays the customer number and name.
   Product Name	Displays the product code and description.
   Transaction Date & Time	Displays the date and time, when the transaction was performed.
   Value Date	Displays the value date of the transaction.
   Amount	Displays the transaction amount with debit or credit indicator.
   Maker	Displays the maker name who has performed the transaction along with date and time details.
   Checker	Displays the checker name who has performed the transaction along with date and time details.
   Remarks	Displays the reason for rejection. Note: This field is displayed, if reversal transactions have ACH involved.

4. User can view more information related to the account transactions, in the following tabs:
   • Transaction Details

     Figure 2-14 Transaction Details

     
     

     
     Description of "Figure 2-14 Transaction Details"

     
     

     For more information on fields, refer to field description table below:

     Table 2-11 Transaction Details tab – Field Description

     Field	Description
     Settlement Details	This section displays all the settlement details related to the account.
     Settlement	Displays the account or GL number along with the description. Note: For external accounts, this field displays the external account number and name.
     Branch	Displays the branch name and code.
     Debit/Credit	Displays whether the transaction is of debit or credit in nature.
     Settlement Amount	Displays the settlement amount in local currency.
     FCY Amount	Displays the amount in foreign currency.
     Exchange Rate	Displays the exchange rate in case of foreign currency.
     Accounting Entries	This section displays the accounting entries detail of the account. Note: This section is displayed if accouting entries are related to the selected transaction.
     Mode	Displays mode of the accounting entries as Account or Ledger.
     Branch	Displays the branch where the transaction was performed.
     Description	Displays the account or GL number along with description.
     Debit/Credit	Displays whether the entries are of debit or credit in nature.
     Amount	Displays the local currency amount.
     Amount Tag	Displays the description for the amount tag.

   • Preferences

     
     Description of the illustration transaction-view-and-reversal_preferences.png

     Table 2-12 Preferences tab – Field Description

     Field	Description
     Loan Preferences	This section displays the detail of loan account preferences.

5. Click Reverse.
   The screen is successfully submitted for authorization.

   Note:

   • The system checks if the logged in user has the rights to reverse. If no rights, an appropriate message is displayed.
   • If user click Cancel, then Transaction View & Reversal screen is displayed again.