Office Accounts - Conceptual Overview

 
Office accounts are those accounts which are internal, used internal. Consider two schemas :

1. A customer has deposited handed over the cash with chellan. But he forgot to write the account number in the chellan. So what would the counter PA do with this surplus amount ?

2. The counter PA has paid 4000 insted of 400. How will you adjust the short amount ?

We have an answer, for 1. it's UCR and for 2. it's UCP. But considering concepts in finacle here comes the role of the office accounts. For scenario 1, the surplus amount is parked in an unposted office account called 'Sundry Account'. The entry is reversed when customer comes up with actual details. For scenario 2, the short amount is adjusted by debiting office account called 'Suspense Account'. .

Transactions in the office account in finacle :

Office accounts can be divided into 3 :
1. Office Account Basic (OAB) : These are basic internal accounts. Accounts like cash, Asset accounts, Liability accounts, interest, commission are under this type.

2. Office Account Pointing (OAP) : Pointing accounts are used for transactions created for a short period. And they have to be reversed. Eg: Sundry account.

3. Office System Pointing : Users have no role in this. Transactions are system generated and verified by invoking certain events.

CBS in Post offices - An overview

Core banking is services provided by a group of networked banks or post offices. Customers may access their funds and other simple transactions from any of the member branch offices.

What is a CIF number ?

A CIF (Customer Identification Number) is a 9 digit unique number allotted for each customer. Once a CIF id is generated for a particular customer, he can use the number for further transactions such as opening of other savings bank accounts like MIS/TD/NSC/RD. The main advantage is that the counter PA need not enter the customer details again and again for each account opening. Once PA enters the CIF id, all the details get populated and he need to enter only the deposit amount, nomination details etc.

What is a SOL id ?

SOL - Service Outlet Id is unique number that represents a particular post office. It is an 8 digit number resembling pin code. A CBS enabled office is identified by its SOL id. It is somewhat like IFSC code used in banks.

Maker - Checker Concept or Double Entry concept :

In CBS, all the transactions are based on double entry scheme. Counter PA makes a data entry (a/c opening, deposit, withdraw etc.). Whatever the entry made by PA, the supervisor has to verify the entry.  The posting of entry happens only when the supervisor verifies the entry. If the supervisor finds anything wrong in the entry, he can reject the same and PA has to make sufficient modifications.

CPC - Central Processing Centers

For every postal circle there should be a CPC, which plays an important role in CBS implementation. Each CPCs are arranged with an aim of digitization of
the data collected at POs during account opening. i.e.,
1. A new customer approaches a CBS enabled PO for opening an SB account.
2. PA opens the account after collecting sufficient documents such as address proof, photo identity proof,   supervisor verifies it.
3. The documents collected with SB3 should be sent to CPC.
4. CPC would scan the documents and will return the forms and documents to the respective office.