Processing of CASH CLOSURES using HCASHPND
We see every day many cases where we close accounts and make payment by cash. But have you observed that even after closing the account and paying by cash our Teller Cash Position does not change. Many people are ignoring this difference because manually the cash is getting tallied.
There is one more step involved in finacle where we close accounts and make payment by cash. Only after this step your teller cash will show the correct cash position. So let us see how it is done.
The menu for this process is HCASHPND. So invoke the menu and you will get a screen as shown in the below figure. See the image below.
- In this screen choose function as P - Process and click on GO.
- Finacle will show a list of pending cash transactions which are not yet processed. Choose each transaction at a time and process them individually.
- So after clicking on GO we will get the following screen. See the image below.
- As you can see in the above image, finacle is showing pending cash closure transactions. We have to process them one by one.
- To process a transaction just click on the Srl. No. After clicking the srl no we will the screen as shown below. See the image below.
- In the above screen all you have to do is just click on POST. That's it. After clicking on POST you will get a transaction id. Note it down and verify in supervisor login using HTM menu.
- Only after doing this step your teller cash position will be deducted with the cash closure amount.
Note:
1. All cash closures should be processed on the day of closure itself. If you forget to process the cash closures, your teller cash position and actual cash position will differ leading to doubts of the auditors.
2. We cannot process the cash closures of previous dates. So make an error entry of all the pending transactions in HCASHPND mentioning the reasons about why you did not process the transaction. This error entry will save you in the future at the time of inspections.
3. If there are multiple counters in your office, do not process the transactions which you not closed.
4. For MIS account cash closure with bonus, the bonus amount will not be added to principle amount at the time of processing. This a bug and i hope our CPCs have raised a ticket to the infosys about this point. The point when you close MIS account and pay by cash and process the transaction using HCASHPND, then also your teller cash position and actual cash position will differ by an amount equal to bonus amount. So do not forget to make an error entry.
So this is all about processing cash transactions. DO NOT FORGET TO FOLLOW THESE STEPS AFTER CASH CLOSURES.
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