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INWARD CLEARING - A brief Summary

Admin Friday, December 19, 2014

INWARD CLEARING - A brief Summary 


 Important:- The HO which is dealing with Clearing House will debit all cheques received from Clearing House at that HO only after following the prescribed procedure given below. No cheque should be sent to any other CBS HO or CBS SO.


(A)Supervisor to open the Zone and enable the Operator to lodge (enter) the inward cheques received for clearing.



(i) SUPERVISOR


 
Invoke menu HMICZ – for Zone Open

  • Select the appropriate zone (MICR OR CTS). As of now only MICR zone should be
           opened. CTS Zone should not be selected even the office is linked to a CTS Zone.
  • Zone Date – By default System date
  • Total Advice -Supervisor should enter the total amount of inward clearance amount. This can be modified even at a later stage.
  • Total No. of instruments in Advice – Total number of cheques corresponding to the Total advice to be entered. This also can be modified at a later stage. Click on Submit.
  • Zone is opened successfully`
(ii) OPERATOR
  • Invoke menu HICTM – to Lodge (Enter) cheques received for Inward clearance
  • Select the appropriate Inward clearing zone opened by supervisor.
  • Enter the cheque number, amount and account number


Carve – by DEFAULT it is YES



(Carve – Carve means to slice off specified portion of funds equivalent to cheque clearing amount out of the total available balance. This is done to ensure that the cheques received for inward clearing is for sure cleared if sufficient balance is available. Customer cannot withdraw even from this account, the amount carved). Suppose if there is insufficient balance in the account – An error will be thrown. Change the Carve as NO and lodge (enter) the cheque. Ensure that this cheque is marked as “Reject” in Inward zone – Inward reject can be done by using OPTION HICTM after running Post Validation run.
  • To make Carve NO for rejected cheques (compulsory) first user need to click on empty space near individual cheque summary and then proceed further by clicking on explode button for additional rejection details. After completion of filling additional rejection details and click on accept then only rejected cheque’s carve status will become NO. With Carve Yes, rejected cheques will not be allowed to lodge. In above 3 screenshots how inward rejected cheque carving status changed from Yes to NO is shown.
  • Alternatively by selecting the particular and clicking on show exception carve status can be changed to NO.
  • For both type of rejects i.e. Inward and Outward rejects carving should be NO.
  • Click on the SVS – Signature Verification system icon to view the signature

(B) Procedure to identify the duplicate cheque/instrument entry and delete the duplicate
cheque entry



Errors will be thrown during EOD if Duplicate cheques are entered. Procedure for deleting the duplicate entries is as follows:-

  • Invoke HICTM and select Delete function.
Note: Delete function can be used to delete the verified as well as unverified instruments
  • Click on Accept and the below screen comes up.
  • The Selected check box should be ticked for the record which needs to be deleted. For the other cheques, this check box shouldn’t be ticked

(C) If error “Carving could not be done as there are scheme errors” is shown, following is
the solution:-.
This error is thrown when wrong account number is lodged (entered) in HICTM menu. This error is also when the scheme of the SB account is non cheque. Same has to be changed using HACXFRSC before lodging the instrument.



SUPERVISOR



(D) What to do by the Supervisor:-



Verify the cheques lodged (entered) using menu – HICTM



Click on Accept after verifying the details.



Suspend the Zone – HMICZ



(Please Note: No cheques can be lodged (entered) after SUSPEND. Still if any cheques are left out or high priority cheques to be entered, the same can be done by un-suspending the zone thru menu UNSUSPEND. Again lodge the cheques thru HICTM, verify and suspend the zone) HMICZ - Validation run. This is Very Very important. After Suspension of Zone, validation Report should be generated. This report can be checked by using menu HPR to find out any rejects. If any rejects are found in HPR due to insufficient balance or for other reasons, 



go to HICTM – Modify – Select the appropriate cheque number and mark as INWARD REJECT by selecting appropriate reasons. If any double entries are found, go to HICTM and DELETE the appropriate cheque.



(E) Process for Rejecting the cheques which failed
  • Invoke HICTM – Modify option from operator
  • Click on Accept without entering any details
  • Select as “Inward” from the drop down in “Reject” field
  • After clicking on Inward Reject an error will be thrown as “Enter all Mandatory        Field”. Click on the red and white button near the Reject field
  • If any error is found in HPR, supervisor cannot proceed further to POSTING.
  • If no errors are found, zone status will show as Validation run successful. This can be checked through menu HMICZ – Inquire – Zone Status
  • Go to HMICZ – Modify mode- Enter the total number of instruments and total amount. This should be done in SUSPENDED ZONE. This is mandatory. Supervisor cannot POST the zone if this is not done. Once the postings are initiated these statistics cannot be modified. Hence, extra care must be taken to update the correct statistics before initiating the postings.
  • HMICZ – Post. Actual transactions happen at this stage only.
(Suppose if CARVE is NO. Balance will not be checked at time of LODGING. Suppose funds are available during VALIDATION RUN and while POSTING, no funds are available, these transactions will be in ENTERED state. The reason for this transaction in ENTERED state can be checked in HTM – Enter Tran ID - List All exceptions menu. Reason for entered state can be recorded and this cheque is to be deleted using HICTM menu. However this cheque cannot be honored.
  • Reports can be taken in HPR . Scheduled report for all CLEARED CHEQUES.
  • For taking print out of Rejected Cheques INVOKE MENU HREJREB
  • Zone Close – HMICZ. This should be done after all the above are completed

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