Office accounts as dectective controls for SBCO staff in DOPFinacle

SBCO

Office accounts in DOP Finacle

What is an Office Account?

· These are the accounts which post office uses internally.

·These accounts are opened without reference to CIF ID or involvement of the customers.

·All the operations are performed internally without any involvement of the customer i.e., these are handled by the system internally on behalf of post office.

         Examples :- Charge calculations,interest calculations,interest collected or paid,commission and expenses account with post office and so on.

There are 3 different approaches for performing the transactions in the office accounts in DOP Fiancle they are as follows

1.        Office Account Basic(OAB)

2.        Office Account Pointing(OAP)

3.        Office System Pointing(OSP)

Office Account Basic(OAB)

· Basic office accounts are simple internal accounts in DOP Finacle. These accounts help in managing the General Ledger(GL).

· Examples are Cash,Asset account,Liability account,Interest and commission,Exchange,Discount and charges are opened under this scheme.

Office Account Pointing(OAP)

·Pointing accounts are used where the transactions are created in short period with a reference and they will have to be reversed.

·Examples are Unposted office account(Sundry account).

Office System Pointing(OSP)

·The users are not allowed to do the transactions as the name suggests these are system generated transactions.

·Some of the examples are interest calculation for Savings account done by the system i.e., system will create a transaction and verify by the system when an event is invoked.

· This also includes proxy accounts

Why do we need to have the checks on internal accounts?

The auditor will be interested to see that a proper hear or an account is used for passing a particular type of transaction. For example, new accounts in finacle when a bank cheque is given for opening, should be opened by debiting account no 0382 only and not any other account. 

There is no other mechanism whereby the auditors can detect this kind of mistake. SO the auditors have to go through each and every transaction carefully. The auditor should be able to check and confirm  that the reversal of transactions from intermediary accounts have been proper  and have taken place within the given time frame, in case of OAB type of accounts. The auditor should make a note of delay in such reversal and should report to controlling office.

Note: If you are not aware of what is reversal, how it is done, what are intermediary accounts, what are office accounts, I suggest you to read all the lessons in our finacle training. We have clearly explained all the basics in our training. 

What are the options provided in finacle to conduct this part of audit process?

Finacle provides the auditors both the options to view the report and also take a print out of the report of various activities/ transactions conducted by the employees working in a post office. These reports and inquiries are effective for operations as well as detective controls for auditors.

Please use the following menus. 

A small note, These menus will only be accessible to auditors in MIS url login only. 

SL NO	MENU	FUNCTION
1	HIOT	Inquire on Transaction
2	HIEARP	Income and expenditure analysis report
3	HIEMRP	Income and expenditure monitor report
4	HMSGOIRP	minor subsidiary outstanding item report
5	HMSOIRP	minor subsidiary outstanding item report
6	HMSTRP	minor subsidiary transaction report
7	HIOGLT	inquiry on General Ledger transactions
8	HACLINQ	account ledger inquiry
9	HACLPOA	office a/c ledgers print

We request auditors to invoke these menus and get a feel about these menu screens.

In the next part of this article we will explain how to use these menus in a step by step manner.