X.100 Back Office Training Manual BANK DRAFT ACCOUNT. Page 1. X.100 MANUAL. Copyright 2015, All rights reserved.

Transcription

1 BANK DRAFT ACCOUNT Page 1

2 Course Overview Welcome to the course on Bank Draft Purchase and Settlement (Account), which details the procedure for issuing drafts on behalf of customers and settling presented drafts in the X.100 Application. The course is organized into eight (8) main topics: 1 2 Bank Draft Purchase Bank Draft Purchase (Account) Process Flow 3 Scenario: A teller debits customer s Account for a draft to be issued Assessing the Draft Purchase (Account) Screen Bank Draft Settlement Bank Draft Settlement (Account) Process Flow 7 Scenario: A customer s Account is credited with a presented draft 8 Assessing the Bank Draft Settlement (Account) Screen Summary Bank Draft Purchase & Settlement (Account) Assessment (Answer all the questions) Page 2

3 The Bank Draft Purchase (Account) A Bank draft is a written order in the form of a cheque instructing the payment of money from one bank account to another. It is drawn by one bank against funds that it has deposited in an account at a second bank. A bank draft Purchase (Account) enables the bank to debit the customer s account without the customer bringing cash. Note: All bank draft purchase transactions posted in X.100 must be authorized. Fields indicated in blue are mandatory. For the purposes of this module, only the relevant fields are explained. Page 3

4 The Bank Draft Purchase (Account) Process Flow Before we proceed with the posting steps, let s review the Bank Draft Purchase (Account) process flow. Posting bank draft takes place after the details of the transaction have been verified and accepted. Screenshot: View of the Bank Draft Account Process Flow Page 4

5 A teller accepts Account for a draft to be issued for a customer Justice Obeng a customer of Union Bank, Ghana wants to purchase a draft of 1,400 Ghana Cedis on behalf of Rexon University for the payment of his school fees. Since Justice is a customer of Union Bank, he gives an instruction to Cecilia Rockson, the customer service officer of the bank to debit his account with the draft amount and commission which will enable the bank issue the draft to him. Cecilia Rockson receives the instruction with a completed draft slip and completes all necessary verifications. Let s see how Cecilia posts the draft purchase. Page 5

6 Assessing the Bank Draft Purchase (Account) Screen This is the default screen posting draft transactions. Since the customer has an account with Union Bank, Cecilia can use Justice s account as the funding account which will allow for a straight debit on the account to allow for the purchase of the draft on his behalf. To post a Bank Draft Purchase (Account) in X.100, you must be familiar with the Draft Purchase (Account) screen in the Bank Draft sub-folder of the Payment System folder. Double click on the Bank Draft Purchase (Account): This will open the Bank Draft Purchase (Account) interface. To post a bank draft, Cecilia does the following: 1 Indicate Justice s account number and press the enter button. 2 All the necessary fields are auto-populated. Indicate the Payee i.e. the name of the school Draft Purchase A/c 3 Indicate the Payee address Page 6

7 3 Indicate the Cheque Ref. and press the enter key Note: if the cheque number is already presented, stopped or not valid an appropriate message pops up. If the cheque number is valid the amount field is enabled Indicate the right Amount. Indicate the correct narration for the transaction. Indicate the Commission amount. 7 8 Check and confirm if the records are correct. Complete the process by clicking on the final Ok button. Note: authorization is required to complete the draft purchase (Account) process. Having completed the transaction, Cecilia can now give the bank draft to Justice. Page 7

8 The Bank Draft Settlement (Account) A bank draft is a payment order for a pre-specified amount of money. It is used by individuals to make transfer payments in local currency from one bank to another. A bank draft Settlement (Account) enables the bearer of a draft to redeem a presented draft at the bank. Note: All bank draft settlement transactions posted in X.100 must be authorized. Fields indicated in blue are mandatory. For the purposes of this module, only the relevant fields are explained. Page 8

9 The Bank Draft Settlement (Account) Process Flow Before we proceed with the posting steps, let s review the Bank Draft Settlement (Account) process flow. Redeeming a bank draft takes place after the details of the transaction have been verified and accepted. Screenshot: View of the Bank Draft Settlement (Account) Process Flow Page 9

10 A customer receives Account with the paying bank s presented draft Agowu Furniture Services a non-customer of Union Bank, Ghana presents a Union Bank draft purchased by George for settlement. Since Agowu Furniture Services is not a customer of Union Bank, he wants to be given Account for the settlement of the draft he presented. He approaches the Teller, Sandra Lawson, with a completed draft settlement and the draft. Sandra receives the completed draft settlement slip and the draft purchased by George and completes all necessary verifications. Let s see how Sandra posts the draft settlement. Page 10

11 Accessing the Bank Draft Settlement (Account) Screen This is the default screen for paying presented drafts into the bank customer s account when presented for settlement. To redeem a presented draft in X.100, you must be familiar with the Draft Settlement (Account) screen in the Bank Draft sub-folder of the Payment System folder. Double click on the Bank Draft Settlement (Account): This will open the Bank Draft Settlement (Account) interface. To post a bank draft settlement, Sandra does the following: 1 Indicate the draft number at the Enter Draft No. field. 2 Press the enter key: All relevant fields are auto-populated Draft Settlement A/c Page 11

12 Press the enter key for the denomination breakdown interface to pop-up Type the amount in the denomination interface and press the ok button. Indicate the transaction narration. Verify and complete the process by clicking on the final Ok button. Note: authorization is required to complete the draft settlement (Account) process. Having completed the transaction, Sandra can now give the Account to Agowu Furniture Services. Page 12

13 Summary In this topic, you have learnt the steps involved in using the Draft Purchase and Settlement (Account) module: To purchase a draft: Maker posts entries Checker checks and approves transaction Maker issued draft to customer Maker files documents To settle presented drafts, Tellers follow this procedure: Maker takes draft from customer Maker posts entries Checker checks and approves transaction Draft account is debited Customer s account is credited Maker files documents Page 13