Standard Operating Process for Accounting in offices where CSI has been implemented

Standard Operating Process for Accounting in offices where CSI has been implemented

Standard Operating Process for Accounting in offices where CSI has been implemented In CSI offices, 

accounting is centralized at transaction level. Hence there is no requirement of consolidation of accounts at sub office and head office level. Classification according to account codes is done automatically at the point of transaction, in respect of all POS and DPMS  transactions. However,  in  respect  of  other  financial  transactions  like  Finacle, Mccamish,  WUIMT,  MMTS  etc,  there  is  a  need  to  do  voucher  posting  currently.  Once integration  is  completed  (which  is  expected  to  be  done  on  completion  of  country-wide rollout of CSI), there would be no requirement of voucher posting.

  The actions needed to ensure correct accounting in CSI offices are outlined below:  

 Tallying  of  system  balance  with  physical  balance: At  the start  of  business day, view ZFBL3N and check  the  correctness  of  the ‘DOP  Cash’Opening  Balance with  that  of physical balance. At the end of business day, the closing cash balance of ZFBL3N should be tallied with that of Physical balance. Any difference can be due to the missing voucher postings  of financial  transactions  like PLI/RPLI,  WMTS,  MMTS,  etc.  Any  pendency in voucher  postings  of  Finacle  transactions  does  not  affect  the  DOP  cash  unless,  they  are wrongly posted in reference to DOP Cash. 

  Accounting  of  transactions: All  POS  transactions have  to be accounted through ‘POS Back Office  Cash’ as  obtained  from  Treasurer/DOP  cash. Voucher  posting  relating  to Finacle transactions (DPBS) done through POS has also to be with reference to ‘POS Back Office Cash’only. DOP cash  GL is not to be used for this purpose.  If DOP Cash  GL is used,  it  will  inflate  the  cash  balance  of  treasurer  and  resultantly  the  closing  DOP  cash balance and physical cash balance will differ.  

 Allocation of cash to counters: The allocation of cash to POS counter must be invariably done through POS Back Office module.In no case, cash which was not routed through the process be used in the POS counter.  

 Verification  of  closing  cash: Ensure  correctness  of  Closing  cash  (DOP  Cash)  as  in ZFR_DAY report  of  previous  day  with  the  opening  DOP  cash  as  in ZFBL3N report. Differences can be verified with the subtotals of each G/L by the  FAGLL03 report with respective  Posting  Key of  the  day  with  that  of  ZFR_DAY.If  the  cash  transfer  is  done through voucher posting, those figures will not reflect in ZFR_DAY, resulting in difference with ZFBL3N balance. 

  Use of appropriate posting key: While posting any transactions in SAP, use appropriate posting key for Debit or Credit. In general, when department receives cash, DOP cash / POS  cash GL  as  the  case is  debited (use  Posting  Key  40) and  respective receipt  GL  is credited (use Posting Key 50). When department pays cash, DOP cash / POS cash as the case credited (Use Posting Key 50) and payment account head is debited (Use Posting Key 40).  

 Posting of PLI/ RPLI transactions: The transactions relating to PLI/RPLI done through POS, need to be posted at the end of the day by using DOP cash GL as debit or credit as the  case  may  be  [till  issuesin  POS/McCamish  are settled]. Voucher  postings  of Finacle transactions  and  McCamish  should  be  done  with  reference  to  the  swift  report  figures generated from POS module.  

 Cash transfer to other offices : Cash transfer to other offices should invariably be done through  workflow  only  and not by  voucher  postings.  Cash  received  through  workflow should be acknowledged by the receiver office on receipt of Cash,failing which DOP Cash of  the  receiver  office  will  not  be  debited,  i.e,  balance  will  not  be  raised.  Instances  were noticed  where  cash  receipt  was  posted  manually  and  resultantly Cash  in  transit  of  the sender  office  is  outstanding.Any  lapse  in  these  procedures  will  lead  to  different  closing balances in ZFR_DAY and ZFBL3N.

   Functioning  of DPMS: Every event of malfunctioning in DPMS is to be brought to the notice of TCS by raising tickets appropriately. When DPMS is down, voucher posting has to be done in respect of disbursements of Money orders, undelivered MO, receipts of COD and VPP.  APM (Mails)/SPM should ensure that the MO postman issue is settled on a day to  day  basis.  This  can  be  verified  through  FAGLL03 with  GL  code  4200020009  of  the respective profit centers.Please ensure that sum of MO postman issue is also  zero  at the end of the day. 

  Checking for pendency: The sum of POS CASH GL 4867100011 should be zero at the end of the day. Any outstanding balances indicate pendency of voucher posting of Finacle transactions held in POS that day. The pending balances can be identified from the swift report from POS. Voucher postings for Finacle transactions should be invariably done with reference  to  POS  CASH  GL  only. Rarely,  there  can  be  cases  where  invoices  raised  for walk- in customers in POS but billing not occurred in SAP, resulting in outstanding POS balances.  This  can  be  verified  through FAGLL03,  where invoice  and  billing  documents can be linked with the code available in the text column. 

  VPMO  booking: While  booking the  VPMO  and  crediting  VP clearing  accounts,  the appropriate check box for VPP should be clicked to enable proper accounting and clearance of  their  respective  documents. The  proper  procedure  for  clearing  COD  receipts  and  its remittances to the sender may be followed through CSI only.  

 Third  party  transactions: Third  party  transactions  like  WUIMT etc,  which  are  not integrated  with  and  not  functioning  in  CSI  POS,  be  done  with  DOP  cash  and  voucher posting  be  done  with  reference  to  the  Hand  to  Hand  book  of  receipts  and  payments  as tallied by the respective PA.  

 

 Verification of Voucher posting: Once the Voucher posting is completed for the day, it may be cross-verified with the shift report figures as generated in POS for that particular day. Any variation be reconciled immediately and posted.  

 Remittances : While  making  cash  remittances between HO and SO,  the prescribed workflow should invariably be followed. In case of Remittances from SO to BO and BO to SO, when Workflow is not functioning, direct posting with single DOP GL be avoided. In such cases also SAP GL of cash in transit should be used.  

 Certification of voucher posting: The entire voucher posting be supported by a voucher, which should be signed and approved by the PM/ SPM.  In case of voucher posting relating to Finacle and PLI/RPLI, the signed copy of Excel sheet be used as voucher and Document number be mentioned therein. 

  Traceability of payments/ receipts: Every payment /receipts should invariably supported by  voucher/List  and  the  Document  number in  which  it  is  posted  be  mentioned  in  the Voucher.   

 Cheque  clearance: The  Clearance  of  Inward  and  outward  cheques  received  for  various transactions be processed through FSI and the GL of POR Chennai be used for the cheques got  realized  through  Chennai  Grid.  Separate  procedure  issued  by  PAO  Bangalore  be invariably followed.  

 Accounting  of  BO  transactions : As  all  the  BOs  are  under  Non  CSI as  BOs  are  not computerized, the transactions posting thereon be checked by taking ZFR_Day report for the  Branch  Office and  its  data  be  checked  with  the  Hard  copy  of  respective  BO  daily Account. No activity be kept backlog and the day’s work be completed and tallied on the day itself.  

 Verification  of  one-time  customer  GL : For  any  Transactions  in  POS,  an  invoice  is generated with one time customer GL for walk in customer and it should be ensured that it will be zero at the end of the day. Cross check with reference to FAGLL03. Any variations should be reported with raising tickets.  

 Use of correct document type: While doing voucher posting, correct document type of CSI be used.    

 Posting  of  Bank  Scrolls: The  Drawings  from  Bank  clearing  account  and  remittance  to bank Clearing GLs should be cleared on posting of entries on receipt of Bank Scrolls.  

 Care  in  selecting  proper  field  in  POS  transaction: Proper  care  may  be  taken  while feeding appropriate fields while making POS transactions, especially while scanning bar codes. There have been instances of barcode being fetched in Amount field wrongly. Even after reversal entry, the account shows distorted figures. Hence avoid such instances.  

 Records: Every office must take a print of the day’s account which is to be signed by Head of the office. All vouchers/lists etc be sent to HPO duly noted with document number. HPO will send such vouchers and lists along with its records to PAO Bangalore. 

  General Check at HPO : The HPO shall check the SO/BO accounts by accessing the data online.  No  need  for  taking  print  outs  for  rendering  accounts  to  HPO  by  SPOs.  The Postmaster concerned shall have to nominate such employees and role be authorized. It is the duty of the Postmaster to ensure check on day to day basis and raise such objections deemed fit and also raise tickets with TCS. The Divisional Head may obtain revised MDW consequent on CSI Roll out and examine and approve accordingly.