Support ›› Manual ›› Credit Management ›› Operations ›› Refunds Processing ›› Settlement ››
Refund Batch Origination
Use this sub-module to create a Refund Batch.
A refund Batch Debits a Customer's Loans or Investment account and Credits their Ordinary Savings account.
To access this window, click Credit Management - > Operations - > Refund Processing -> Batch Origination-
The following screen will open up:
Refund Batch Origination Fig 1.
The available batches will be displayed on the screen.
Creating A Refund Batch:
Click on the CREATE button to open up the following screen:
Refund Batch Origination Fig 2.
On the above screen, fill the following:
Total Value - Enter the total amount to be refunded.
Posting Period:Select the correct posting period by clicking on the posting period look up icon and picking the correct one.
Reference Month:Select the appropriate month for which the charges are to be recovered from the drop down menu :
Priority:Select the relevant recovery priority from the drop down menu :
Reference - Enter the appropriate reference text / number for the action.
Click on the CREATE Button to complete this task.
On successful completion you will get a pop up message confirming that the operation was successful
Editing A Refund Batch:
Identify the refund batch to be edited.
Refund Batch Origination Fig 3.
Click on the edit icon
against it to open the following screen:
NOTE: The edit feature is used to capture beneficiary details into the system(as far as modification is concerned).
Refund Batch Origination Fig 4.
Ensure you have the correct entry type : Straight Through or Notification.
Look up and select the member.
Look up and select the appropriate refund type
Batch Details Pane:
Debit Customer Account - Click on the lookup icon and select the customer account to be debited :
Refund Batch Origination Fig 5.
NOTE: On this look up, one can only select either a loan account or Investment account. A savings account cannot be selected.
The account details will be populated to the respective fields.
Principal - Specify the amount to be refunded.
Interest - Specify the interest amount to be refunded here(For the case of a loan).
Credit Customer Account - Click on the lookup icon and select the customer account to be credited :
Refund Batch Origination Fig 6.
NOTE: From this dialog box, select the corresponding customer's savings account which is to be credited.
For instance, if the account to be debited is Hon Maroon 5's Loan/Investment, the account to be credited will be Hon Maroon 5's savings account.
See below:
Refund Batch Origination Fig 7.
Click on the add button to append the entry to the Batch Entries pane just below:
Refund Batch Origination Fig 8.
Repeat the above steps for each entry that is to be captured,
For multiple entries, use the import option;
Click on the import button. The following prompt will pop up:
Refund Batch Origination Fig 9.
Click on show advanced to display the following:
Refund Batch Origination Fig 10.
NOTE: The captured entries in the excel format must adhere to the upload format, else the upload won't be successful.
Unmatched entries will be found under the mismatched import entries tab:
Refund Batch Origination Fig 11.
Amend the entries then upload the correctly captured sheet.
To remove an erroneous entry, select the entry by checking the box against it, then click on the remove button.
REMEMBER: Always ensure the whole amount is apportioned .
Click on the update button to save the changes into the system.
The following prompt will pop up:
Refund Batch Origination Fig 12.
Accept or reject accordingly.
On successful completion you will get a pop up message confirming that the operation was successful
Created with the Personal Edition of HelpNDoc: Create cross-platform Qt Help files
All Rights Reserved.