FINACLE TRAINING LESSON 6
Previous Lesson: Finacle Training Lesson 5 [Nomenclature, User Interface]
Next Lesson : Finacle Training Lesson 7 [Credits, Debits]
Recap:
In the previous lesson we have learnt
about the basic terminology which is used in Finacle. If you have not already
read the previous lesson please read it and come back to start reading this
lesson.
In this lesson we will learn about
the basics of all the transnational procedures. This lesson is
very important in this training series. So please pay a bit more attention.
There are two steps in the completion of transaction in Finacle.
Yes there are two steps in the
completion of a single transaction in Finacle. In the first step Counter PA
does the transaction in his/her login. In the second step Supervisor
verifies/authorizes the transaction in their login. This concept of one person
doing the transaction and other person verifying is called as maker-checker
concept.
Why verification is necessary?
The answer is simple. Verification is
necessary to prevent frauds, to check for errors and to prevent any
misappropriations.
This verification concept is not new
for us. We use to clear forms in the supervisor login of Sanchay post also. But
verification had no significance in Sanchay post. Only because we cannot
generate LOT without clearing the forms, we used to clear those forms.
But in finacle verification is
mandatory. A transaction is completed only after the verification. Without
verification of transactions we cannot perform day end operation.
So remember there are two steps in
completion of any transaction. The transaction can be cash transaction or non
cash transaction; it has to be verified by the supervisor.
Note: There is only one transaction which
does not require any verification. It is SB withdrawal up to Rs.5000/-
The Four states of a Transaction
In the above section we have learnt
that a transaction is not completed until verification is completed. So before
verification a transaction will be in unverified state. In this unverified
state there are 2 stages/states.
They are
1.Entered
State
2.Posted
State
After counter PA does a transaction
in Finacle, it can be in either Entered state or in Posted State. After
verification, the transaction changes its state to Verified State.
So totally there are 3 states for a
transaction.
1. Entered State
2. Posted State
3. Verified State
Now let us see what is meant by
Entered state, posted state and verified State.
1 1. Entered State: If a transaction is in entered
state, it means that the deposit or withdrawal relating to that transaction has
not yet been affected in the ledger of the account.
It means that, the
transaction takes place but it will not affect any of the ledgers, be it the
account ledger, teller cash position or LOT. Only after verification all these
will be affected and the transaction will change its state to Verified State.
The transaction which
will be in entered state before verification are a) RD deposit, b) SB
withdrawal above 5000 and c) New accounts in which transaction is required.
We cannot modify any
transaction once it is done.
We can delete
transactions which are entered state. So if you do any mistake in transactions
which are in entered state, we can delete that transaction and do that
transaction again correctly.
Deleting does not mean
that the transaction completely vanishes from the system. It will be available
in the system as a deleted transaction.
2. Posted State: If a transaction is in
posted state, it means that the deposit or withdrawal relating to that
transaction has affected the ledger of the account.
It means that, the
transaction has affected the account ledger, teller cash position and it will
also appear in the LOT.
The transactions which
will be in posted state before verification are a) All transactions which are
not in entered state b) all transactions which are not in verified state and c)
transaction whose state is modified from entered state using HTM menu before verification.
We cannot modify or
delete a transaction which is in posted state.
3. Verified State: A transaction is said
to be verified only after verification is done by supervisor. But there is one
exception. SB withdrawal up to Rs.5000/- does not require verification. It will
be in verified state by default.
We cannot modify or
delete a transaction which is in verified state.
4. Deleted State: All transactions which are deleted
will be in deleted state. Only the state changes from entered to deleted state.
The transaction will still be available in the system for inquiry.
So these are the four
states of transaction. I hope you are following me.
Since this is not a live
training session. I will give you some work which you have to do in office.
From this lesson onwards you will have some observations to do in the office.
If you do these observations or work which I give you at the end of each lesson
from now onwards, you will understand more clearly what I’m trying to teach.
Observation to be done at office:
1.
Collect some SB, RD, PPF and SSA transactions which you have done
in the day.
2. Invoke the menu HFTI (Don’t worry I’ll
teach about HFTI menu in detail in later lessons).
3. A new screen will appear. In that
screen you will see field “A/c Id” ( See the image below)
In the A/c Id field enter
the account numbers which you have collected in the first step, one by one. For
example, enter SB account number of the transaction and Click on Go button.
4. When
you enter the account number and click on GO, the following screen will come.
Repeat the same process with the vouchers
of all transactions.
What you have to do is observe the status of each transaction before verification and after verification.
What you have to do is observe the status of each transaction before verification and after verification.
So that’s it for today’s
lesson. See you again tomorrow.
1. There are two steps in completion of a
transaction. Counter PA does the transaction and supervisor verifies the
transaction
2. There are three states for a transaction. They
are Entered State, Posted State and Verified state.
3. Do not forget to observe the status of the
transaction in the counter tomorrow.