Dear readers , we present you the Inward clearing operations in finacle , accordingly today we will discuss whats Inward clearing is and how to open an Inward clearing zone and subsequently we will discuss other functions.
INWARD CLEARING
The branch customers are regularly issuing cheques as payments to third parties.Those collecting banks also lodged these chqeues through their outward clearing to Clearing House. On daily basis Clearing House distributes these collected cheques to all Bank-Branches. Every Bank-branch receives the cheques of their customer for payment from RBI through Inward Clearing. There are also some Zones in Inward Clearing.
Apart from that every Bank-branch gets Outward Return cheques with this Inward Clearing. These cheques are also debited to customer’s accounts through Inward Clearing Zone i.e. Outward Reject Zone.
The cheque collection and maintaining the Inward clearing operation is generally done by a Centralised Back end office i.e Service Branch or Clearing Processing center on behalf of Branches .
Clearing Zone Code
|
Description
|
MICR
|
MICR I/W Clearing
|
NMICR
|
Non MICR I/W Clearing
|
MIRTN
|
MICR Outward Reject
|
NMIRTN
|
Non-MICR Outward Reject
|
For Inward Clearing activity the process is as follows:
Menu Option
|
Function
|
Description
|
MICZ
|
O
|
Open Zone
|
ICTM
|
A
|
Add Cheques
|
ICTM
|
V
|
Verify Added Cheques
|
MICZ
|
S
|
Suspend Zone
|
MICZ
|
R
|
Revoke Suspended Zone
|
MICZ
|
V
|
Validation Run
|
MICZ
|
P
|
Post Run
|
MICZ
|
Z
|
Close Zone
|
MICZ
|
T
|
Validation Report
|
Now we will see Inward Clearing process step-by-step in following manner:
STEP 1:
|
Open Zone of I/W Clearing
|
|
Menu Option
|
MICZ
|
Function: O
|
The above screen of Maintenance of Inward Clearing Zone will always displays at the
time of execution of MICZ option.
After appearing of above screen Function: O (Open Zone) & Press F4
In Zone field: 1st Field enter Zone ID (let say 01) & 2nd Field Date, in which you are going to lodge the clearing. Press F4.
Then enter Total Instruments Received in the Field ‘Tot Inst BAR’ and Total Amount of
Instruments Received in the Field ‘Tot Amt BAR’
Now Press F10 for commit
Clearing Zone gets opened at this stage.
Note: The cursor shifts to the option box where you have the choices as under:
G - General details. (The default screen)
S - Statistics (gives break up of postings into various a/c’s, useful after Posting
Run)
T – Transaction Details
Now you have to lodge or enter the cheques in this Zone ( if your clearing is managed by a Service Branch / Clearing Processing center these functions are performed by them )
We will cover other functions in next posts , but feel free to post your feedback on this topic.
