Submitting an Offset Request

Prerequisites

To submit an offset request, you should have:

  • At least one debit and credit bills added to the offset request

  • Offset amount of each bill not equal to zero

  • Total debit offset amount equal to total credit offset amount in the offset request

  • Negative offset amount for each debit bill and positive offset amount for each credit bill

  • Offset amount less than or equal to the current outstanding amount of the bill

Procedure

To submit an offset request:

  1. Search for the offset request in the Offset Request screen.
  2. In the Search Results section, click the link in the Offset Request Information column corresponding to the offset request which you want to submit.
    The Offset Request screen appears.
  3. Ensure that the Main tab is selected.
  4. Click the Submit button in the Offset Request zone.

    The system behaves in the following manner:

    If... Then
    The Approval Required option is selected in the respective offset request type A To Do of the C1-OFSRQ To Do type is created and sent to the approver. The status of the offset request is then changed to Approval In Progress.
    The Approval Required option is not selected in the respective offset request type and the number of financial transactions created for the bills (which are selected in the offset request) exceeds the defer processing count (defined in the respective offset request type) The status of the offset request is changed to Deferred Processing. On executing the Offset Request Periodic Monitor (C1-OFSRQ) batch, the system considers the offset requests which are in the Deferred Processing status. If the Transfer Adjustment option is selected in the respective offset request type, the system creates the transfer adjustments using the adjustment type which is specified in the offset request. The status of the transfer adjustments is set to Frozen. However, if the Transfer Adjustment option is not selected in the respective offset request type, the system creates the offset adjustments using the adjustment type which is specified in the offset request. The status of the offset adjustments is set to Frozen. Finally, the status of the offset request is changed to Processed.
    Note: If a match event exists for the match type entity (i.e. bill, bill segment, or contract), the existing match event is stamped on the offset or transfer adjustment and on the corresponding bill segment or bill segment cancelation financial transaction. However, if a match event does not exist, a new match event is created and stamped on the offset or transfer adjustment and on the corresponding bill segment or bill segment cancelation financial transaction. In case of partial offset, the status of the corresponding match event is set to Open. However, if the entire match type entity amount is offset, the status of the corresponding match event is set to Balanced. For more information on how the offset amount is distributed, see C1-OFST-DIST.
    The Approval Required option is not selected in the respective offset request type and the number of financial transactions created for the bills (which are selected in the offset request) does not exceed the defer processing count (defined in the respective offset request type) If the Transfer Adjustment option is selected in the respective offset request type, the system creates the transfer adjustments using the adjustment type which is specified in the offset request. The status of the transfer adjustments is set to Frozen. However, if the Transfer Adjustment option is not selected in the respective offset request type, the system creates the offset adjustments using the adjustment type which is specified in the offset request. The status of the offset adjustments is set to Frozen. Finally, the status of the offset request is changed to Processed.
    Note: If a match event exists for the match type entity (i.e. bill, bill segment, or contract), the existing match event is stamped on the offset or transfer adjustment and on the corresponding bill segment or bill segment cancelation financial transaction. However, if a match event does not exist, a new match event is created and stamped on the offset or transfer adjustment and on the corresponding bill segment or bill segment cancelation financial transaction. In case of partial offset, the status of the corresponding match event is set to Open. However, if the entire match type entity amount is offset, the status of the corresponding match event is set to Balanced. For more information on how the offset amount is distributed, see C1-OFST-DIST.
    Note: The Submit button appears when the offset request is in the Draft status.

Related Topics

For more information on... See...
How to search for an offset request Searching for an Offset Request
Offset Request screen Offset Request (Used for Viewing)
Offset Request zone Offset Request