Finacle Accounts

7/29/2019 Finacle Accounts

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Finacle Accounts Overview


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Finacle Awareness Training

Overview:

Accounts are broadly classified into Customer accounts and Office account.

Customer accounts are opened by the customer under various banks products

like Savings/Current/Term Deposit/Advances accounts

Office accounts are opened by the bank for its internal consolidation and

reporting like Demand Draft Account, Suspense Accounts, ARBH, HO Account,

Establishment Expenses

Based on the behaviour viz Savings, Current, Overdraft, Loan, Office Account,

etc have a specific feature of their own are referred to in Finacle as Scheme

Type. In Finacle Ver 7.011 Scheme types are hard coded and details are as

followsScheme types for customer account are as follows - SBA / CCA / CAA / ODA /

TDA / BIA / FBA / LAA / PCA

Scheme types for Office account are as follows OAB / OAP / HOC / DDA /


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Office Accounts Overview:

Taking into account the above objectives/functionality, the office

accounts have been grouped into the following Scheme Types

.

Office Account Basic - OAB

Office Account Pointing - OAP

Head Office Accounts - HOC

Demand Draft Accounts - DDA

Office System Pointing OSP

Office Accounts are hence opened depending on the type, nature andfunctionality required, under one of the following Scheme Types - OAB /

OAP / HOC / DDA / OSP.


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Office Account Basic : Accounts like Cash, Asset accounts, Liability

Accounts, Interest, Commission, Exchange, Discount, Charges are

opened under this Scheme Type.

Office Account Pointing : This Scheme Type is used for openingSundry and Suspense Accounts.

Office System Pointing : This Scheme Type is used for opening only

Proxy Accounts, where the system not expected to do any parameter

validations.

Head Office Accounts : HO Accounts are used for accounting Inter-

Bank, Inter Branch and Clearing Transactions. (Eg: MT, TT)

Demand Draft Accounts : Under DDA Scheme Type, account used for

handling issue and payment of Demand drafts, Pay order are opened.


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Pointing Account

There are some situations wherein certain transactions which when

done on any given BOD date may need a reference/pointer to a

transaction which have taken place on some previous day. Such type oftransactions can be handled in Finacle using the Pointing type of

accounts opened under OAP scheme type.


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Proxy Account

During the course of a day, various transactions are created by several

users of the bank. However, at the close of the business day, there

could be instances, where a transaction entered may remain unpostedor partly posted. When End-of-Day process is initiated, system validates

for such unposted or part posted transactions. If any unposted or part

posted transactions exists, then the End-of-Day process will get

aborted. As End-of-Day process is normally done by a Data Base

Administrator(DBA), who is not involved in the day-to-day branchoperations, it is difficult for the DBA to identify the reason behind the

unposted or part posted status of a transaction. Under such

circumstances, in case the DBA can not postpone the End-of-Day

process. In order to overcome such a situation and to enable the Data

Base Administrator to proceed with End-o f-Day process, ProxyAccounts concepts is enabled in Finacle.


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Overview:

Partitioned Account

In banking operations, Office accounts are used to maintain information

on income and expenditure accounts as well as certain specific

types of transactions pertaining to customer accounts also. Fortransactions posted to such accounts, banks may wish to know the

break-up of the amount outstanding in such accounts and the source

transaction, transaction reference etc. In order to provide these

additional information, there is a provision to define the same as

Partitioned Accounts, which stores the additional information from thesource module and provides the required information as and when

required.


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Thank You

Documents

Finacle Accounts