Utility Payments in this user manual
Contents
1. Example One of your customers Mr Philip Smythe makes credit card statement payments through your bank On Mr Smythe s statement the due amounts are expressed in Australian Dollars He has an USD account in your bank through which he makes the payments The payments are made to Global Credit Solutions Limited who also have an USD account in your bank You have maintained a product CCUP for processing credit card statement payments of customers You can use this product to process any credit card statement payments of Mr Philip Smythe To do so you need to e Associate the standard AUD USD rates that you have defined in the system to the product CCUP e Associate Mr Smythe s USD account in your bank as well as the account held by Global Credit Solutions Limited with the product CCUP as the debit and credit accounts respectively e Define any charges that your bank would levy for the service of processing credit card statement payments and associate these with the product CCUP A product that you define for processing utility payments of a specific type to which you have attached any accounting details rates and charges applicable to a specific utility provider cannot be used to process payment transactions for any other utility provider Example The following utility providers PowerCorp Limited have designated your bank as authorized to receive utility service payments made by customers towards them and credit the2. and credit the payments to their USD accounts One of your customers Mr Philip Smythe makes credit card statement payments to Global Credit Solutions through your bank He has an USD account in your bank through which he makes the payments You have maintained a product CCUP for processing credit card statement payments of customers You can use this product to process any credit card statement payments made by customers such as Mr Philip Smythe in favor of Global Credit Solutions Limited To do so you need to e Specify the ID of Global Credit Solutions Limited as the receiving institution for any credit card payments made by any customers such as Mr Philip Smythe e Associate Global Credit Solutions Limited s USD account in your bank with the product CCUP as the offset or credit account that will be credited with all credit card payments made by customers such as Mr Smythe in favor of them through your bank e Specify USD as the currency in which payments would be accepted e Specify the account that will be debited for credit card statement payments made in cash by any clients of Global Credit Solutions Limited through your bank who do not have an account in your bank 4 1 ORACLE 4 1 1 e Define any charges that your bank would levy for the service of processing credit card statement payments made in favor of Global Credit Solutions Limited and associate these with the product CCUP e Associate the standa
3. Accounts Details and Charges in this user manual Specifying Check Details For bill payments that are being made through a single check or multiple checks you must provide the details of the check instruments as well as the clearing details You can invoke the Clearing Transaction Query screen by typing CGDQUERY in the field at the top right corner of the Application tool bar and clicking on the adjoining arrow button oe ORACLE a Clearing Transaction Query Web Page Dialog Reference Number CHOLCt001 6S0 2 Branch Product Coge Dragii Remitter Details ater Aocmurd Instrument Details Draft Serial Mumie LEW H 100123 naire GS Routing Number D Bank Code secor Code WE Date Details Transaction Date 7 Accounting Entries Entry Humber End Point 1234 External Retererme Beneficiary Details Castor Acoouri Account hetails Currency metrumerd Currency inebruetesnt Arcuri Account Cumency Amount Document identifiostion Mumier eae uirnernd Identithosien hhurtiber Dat Exchange Rate acide Details Es FBO 24 ai Set COO0001 Loot So 4000 4000 00 Aulhorired In the Clearing Query Details screen you can view and modify existing transactions as well as enter new transactions Besides you can authorize such modification and new entries You will be able to view modify enter the following details in this screen e Reference Number of the bill payment trans
4. The specific accounts that would be impacted debited or credited when the payment takes place e The exchange rates that would apply in the case of cross currency conversions that may need to be done when a payment Is processed e The transaction codes under which accounting entries would be posted for each leg of the transaction e For an inter branch transaction you would need to specify the branch in which the debit account resides To avoid capturing these details each time a payment transaction is processed you can define a product You can specify all the details mentioned above and define a specific set of accounts charges and rates for each utility provider for whom you need to process payment transactions These details can then be mapped to the product Whenever you process a payment made by a customer to the utility provider against the product the system applies all the specifications made for the product to the transaction and you need not specify them afresh Attributes of Product A product is characterized by its attributes The attributes are options that you define that will apply to any actual transactions that will be processed against the product In the case of a product that you create to process utility payments made by a customer to a utility provider you can define a specific set of accounting details applicable charges and rates that would apply to each specific utility provider These details can be mapped to
5. You must specify the date on which the bank will debit the remitter account for payment against the check Specify this in the Bank Value Date field The date on which the funds would be made available must also be specified in the Customer Value Date field This date could be different from the Bank Value Date if there is a float period applicable for the bank you have specified om ORACLE Specifying the check amount You must specify the amount being paid through each check i e the check amount This could be the entire due amount or a portion of it Specify the check amount in the Amount field in the Instrument Details section You must also specify the currency in which the check amount is expressed If this currency is different from the currency in which the bill amount is expressed you must specify the exchange rate that will be used in the Exchange Rate field Indicating the DIN You have to enter the Document Identification Number DIN which uniquely identifies an inward clearing transaction Indicating the DIN Date Enter the Din Date i e the date on which the inward clearing transaction was recorded Adding your remarks You can enter information about the check instruments as well as the clearing details intended for the internal reference of your bank The remarks are displayed when the details of a transaction are displayed or printed However this information will not be printed on any correspondence with th
6. enter more than one payment transaction in favor of a utility provider against a product that has been created specifically for the utility provider Products for Utility Payment Transactions When you define products for processing payment transactions of customers you need to e Define an unique product for each type of utility payment transaction that your bank would process for customers Example In your bank you have offered customers the service of processing the following types of utility payments to the appropriate utility providers e Water Charges e Electricity Charges e Credit Card Statement Payments e Telephone Charges To process each type of utility payment you can define a utility product Therefore you could create the following products e WCUP for processing water charges payments of customers e ECUPP for electricity charges payments e CCUP for credit card statement payments e TCUP for telephone charges payments ae ORACLE e You will have to define the utility provider who will be the recipient of each type of utility payment made by a customer The details of accounts to which entries will be posted for payments exchange rates for cross currency conversion and any charges that your bank would levy on utility payments of any type accepted from customers towards each utility provider would be different Therefore you would need to map these details to the corresponding product that you have created
7. only set up a basic profile for the product You cannot associate any account details or charge details for a specific utility provider To maintain these details for a specific utility provider for a specific product you must use the Accounting Rates and Charges Maintenance ARC screen Refer to the chapter Accounts Details and Charges in this user manual for information about the ARC Maintenance screen 3 4 1 Features of Utility Payment Product Definition Main Screen ORACLE You must specify the following details for a utility product in the UP Product Definition main screen e An identifier or code for the product which is unique to it e A concise description of the product e A slogan for the product e The group under which the product is classified e The life span of the product e Any narrative regarding the product remarks e The limits with regard to exchange rate variance that would apply to any transactions involving the product Product Code The product code is a unique identifier for the product in the system across all modules You can specify a code consisting of four characters You cannot use the code that you specify here for any other product in the system in any module If for instance you have specified PWBL as the product code for a utility product in this screen you cannot specify the same code for any other product in any other module in the system For any utility product you must specif
8. provider involving the selected utility product Example In our example since Global Credit Solutions accepts credit card payments made in favor of them in USD you must indicate USD as the Currency Code in this screen For each currency in which the utility provider accepts utility payments made in favor of the utility provider you must maintain a separate set of ARC details in this screen For instance in our example if Global Credit Solutions Limited also proposes to receive utility payments into their GBP account in your bank you need to maintain a separate set of ARC details in this screen for the product CCUP Currency Code GBP and the receiving institution Global Credit Solutions Limited Department Specify the department code cash division The option list displays all valid department codes maintained in the system Choose the appropriate one You can also specify to indicate that all department codes are applicable to the product By default the system displays However you can modify this Specifying ATM Transaction Type You have to specify the type of ATM transaction for which you are defining the ARC details In Oracle FLEXCUBE each ATM transaction type is associated with a processing code While processing a transaction the processing code will uniquely identify the type of transaction for which the ARC definition has been maintained While processing ATM transactions the system picks up the corres
9. D as the currency in which payments would be accepted by Global Credit Solutions Limited e Any charges that your bank would levy for the service of processing credit card statement payments for Global Credit Solutions Limited have been defined and associated with the product CCUP e The standard AUD USD rates that you have defined in the system are also associated with the product CCUP Products for Utility Bill Payments A product is a specific service scheme or facility that you make available to customers For instance the facility of accepting payments from customers on behalf of utility providers for bills issued by them for utility services is a specific service you could offer This service can be thought of as a product ca ORACLE 5 2 1 In Oracle FLEXCUBE a bill payment transaction for a customer is entered into the system against a specific product that has been created for processing particular types of utility payments made by customers in favor of specific utility providers For instance electricity charges payment made by a customer to a specific electrical services provider is entered into the system against a product created specifically for the utility provider for electricity charge bill payments Defining a product simplifies the process of entering a transaction since you can associate a product with certain accounting and charges details that will be applied to all payment transactions entered against the product a
10. Ren 4 2 5 PROCESSING BID PAY WEEN US eccsccccvcessedeecisccesecetnedenconsucscessscdeaconccecesaussccdcceseussuddesconceedessucdeccascuccecacseesds 5 1 5 1 MUI AVN TRAN ACTION cs eee seca EE 5 1 5 2 PRODUCIS FOR UTILITY BILLPAY MEN Senia rn or ee 5 1 5 2 1 CCV CC 1 1 Separates pits apse pte es pansies ga A pte eee ep Coe ca A ote demt A ees 5 2 IZA Viewing Accounting Entries ANd OVECrTIES cccccccssecccccccccec ne eeeeececeeecaaeeeseceeeeeaaeeeeeeeeeeeeeeaaaesseeeeeeeeaaaes 5 5 5 3 VIEWING UTILITY PAYMENT TRANSACTION ccccseccecccsccsccsccesccsccssccsccscesscescesccsscescessesscesceessesscasceuss 5 6 1 About this Manual 1 1 Introduction This manual is designed to help acquaint you with the Utility Payments Module of Oracle FLEXCUBE It provides an overview of the module and guides you through the various steps involved in processing utility payments of the customers of your bank In addition to this User Manual you can find answers to specific features and procedures in the Online Help It can be invoked by choosing Help Contents from the Help Menu of the software You can further obtain information about to a particular field by placing the cursor on the relevant field and striking the lt F1 gt key on the keyboard 1 1 1 Audience This manual is intended for the following User User Roles Back office data entry clerk Input functions for contracts Back office managers officers Authorization functions Product M
11. Utility Payments Version 1 0 INT1399 ORACLE FC UBS V UM 11 0 RU 1 0 0 0 December 2010 Oracle Part Number E51712 01 ORACLE FINANCIAL SERVICES ORACLE Document Control Author Documentation Team Group UBPG re Created on October 01 2008 Revision No Final a Updated by Documentation Team Reviewed by Approved by Software Quality Development Testing teams Assurance Team Updated on December 23 2010 Reviewed on December 23 Approved on December 23 2010 2010 ORACLE Utility Payments Table of Contents L ABOUT THIS MANUA roa coos vee aseanig ce cece ewes dedaecesas ages Aiai 1 1 1 1 TTR COI etc cc cater tater pst vss tc cep et se ctere rc eet oe E s eente Mes stew era E EEOAE ERE 1 1 1 1 1 LW ITELE E a ee eo ae ee ee eens EAA eee are ee Te cere ere nee are wr E l 1 1 1 2 OI iO EEE E EE NE E E O EE E E l 1 1 1 3 Related Documehi eenen EEA EEEE AEEA 1 2 1 1 4 Glossary of Icons eee 1 2 OV V e cnc oacueentcetecesevavebcntcahceccececcvauueecsevavebanteciceccevescvenbostecsaevescectecocucscecucsansecsceesercats 2 1 2 1 INTRODUCTION ccccsccsccsscsscsccsccsccsscsscsscescescescessesscsscescessessescessesscsscescessessessesscsscescescessessesscsscescescesseecs 2 1 2 1 1 To e cise tsit web ae ser eb esta sic wicca A sd ic sete wig eae E E 2 1 3 DEFINING PRODUCTS FOR UTILITY PAYMENTS cccccccccccccccccccccccccccccccccccccccccccccsccccces 3 1 3 1 PNR OC VIN age tactics sande ca sancee enca
12. action e Code of the utility payments product in which the transaction is being put through e Any external reference identification number that you have specified for the transaction e The account of the receiving institution or utility provider which is the offset account that will be credited with the bill payment amount e The amount due on the bill Example For instance let us suppose that Mr Smythe makes his credit card payment through a check You would need to specify the check details through the Clearing Query Details screen In this screen the following details are displayed e The reference number assigned by the system was OOOCCUP022150001 This is displayed in the Reference Number field in the Clearing Query Details screen e CCUP is the code of the utility product that you have set up against which you are entering the bill payment of Mr Smythe in favor of Global Credit Solutions Limited This is displayed in the Product Code field e Since Global Credit Solutions Limited is the beneficiaries recipients of Mr Smythe s bill payments their ID is displayed in the Customer field in the Beneficiaries section on ORACLE e The bank account of Global Credit Solutions Limited which you specified as the offset account that would be credited with the bill payment amount is displayed as the beneficiary account in the Beneficiary Details section e The amount due on the bill is displayed in the Amount field in the Acco
13. anagers Product definition and authorization End of Day operators Processing during End of Day Beginning of Day Financial Controller Product Managers Generation of reports 1 1 2 Organization This manual is organized into the following chapters Chapter 1 About this Manual gives information on the intended audience It also lists the various chapters covered in this User Manual Chapter 2 Overview is a snapshot of the features that the module provides Chapter 3 Defining Products for Utility Payments details the procedure to set up products for utility payments Chapter 4 Accounts Details and Charges explains the process of setting up details of accounts and charges for a utility product applicable for payment transactions is explained in this chapter Chapter 5 Processing Bill Payments deals with the procedure involved in entering the details of a utility payment transaction for a customer against an issued bill 1 1 ORACLE 1 1 3 Related Documents e The Core Services User Manual e The Core Entities User Manual e The Procedures User Manual 1 1 4 Glossary of Icons Reverse Template Roll over Hold Authorize Liquidate Exit Sign off Help 1 2 ORACLE 2 1 2 Overview Introduction The Payments Utility Interface module enables your bank to process payments made by customers towards services and utilities provided by specific utility providers Customers may need to make these payments from any
14. branch of your bank to any other branch of your bank For each kind of payment you can define a product in the UP Product Definition screen You can make the use of the product specific to payments made to a specific utility provider fora particular utility payment and a particular payment currency by defining ARC details in the ARC Maintenance screen You can capture details of each payment of a customer against a bill in the Bill Payments by Account Check or Cash screens depending upon the mode of payment Features The Payment Utility Interface module enables you to process utility payments made by customers by providing the following features e Flexible definitions of accounting entries and events involving payments e Definition of charges applicable e Definition of exchange rates applicable for cross currency conversions e Inter branch payment transactions can be processed 2 1 ORACLE 3 1 3 1 1 3 Defining Products for Utility Payments Introduction A product is a specific service facility scheme or utility that you make available to customers of your bank For instance processing payments made by customers for utility services to a utility provider institution could be thought of as a product Advantage of Defining Product When you process a utility payment transaction for a customer you need to provide the following details e Any applicable charges levied for the service of processing payments e
15. by the utility provider against which the customer is making payment e Bill number e Bill Issue Date ORACLE Bill Currency Bill Amount Exchange Rate Details Account Details 5 3 1 2 Viewing Transaction Details You can view the following transaction details Offset Account Details Charge Details Net Paid Amount Service ID External Reference Number Narrative o ORACLE ORACLE Utility Payments December 2010 Version 1 0 Oracle Corporation World Headquarters 500 Oracle Parkway Redwood Shores CA 94065 U S A Worldwide Inquiries Phone 1 650 506 7000 Fax 1 650 506 7200 www oracle com financial_ services Copyright 2010 Oracle Financial Services Software Limited All rights reserved No part of this work may be reproduced stored in a retrieval system adopted or transmitted in any form or by any means electronic mechanical photographic graphic optic recording or otherwise translated in any language or computer language without the prior written permission of Oracle Financial Services Software Limited Due care has been taken to make this document and accompanying software package as accurate as possible However Oracle Financial Services Software Limited makes no representation or warranties with respect to the contents hereof and shall not be responsible for any loss or damage caused to the user by the direct or indirect use of this document and the accompanying Software Syste
16. de Main Leg for the transaction End Point I Generate Transaction Advice Account Class Product Bank Float Days Account Class Product Type Calendar Working Transaction Code Offset Transaction Code Description Customer Float Days Debit Account FI i Pe Loys Eass Main Transaction Code Description Charge From Account T Liquidation Product for Management Information Demand Draft System fs Netting Charges Branch Name Description ht I Generate MT101 Profit Reval GL Loss Reval GL Revaluation Rate T Reval Required CHARGE1 CHARGE2 CHARGES CHARGE4 CHARGES Cash Plan Symbolt Basis Cash Plan Sub Symbolt Charge Account Transaction Code Rate Fields Regulation Input By Authorized By Date Time Modification Number Date Time E Authorized E Open If you are maintaining ARC details for a utility product and a specific utility provider or institution the ARC details maintained in this screen will be used for posting entries for the utility product Institution ID and currency code combination The institution ID is the identification of the utility provider that will be the recipient of the utility payment being made by customers You must maintain ARC details for each specific utility provider for whom you process customer payments made in favor of the utility provider A unique single set of ARC details must be maintained for each utility provider You can however a
17. e customer 5 2 2 Viewing Accounting Entries and Overrides You can view the accounting entries that would be passed during processing of the bill payment transaction by clicking Accounting Entries button in the Clearing Transaction Query screen The Accounting Entries screen is displayed e Accounting Entries Web Page Dialog Contract Reference Number Accounting Entries E a Branch Account Number DriCr Amount Tag y Foreign Currenc y Amount Exchange Rate Local Currency Amount EJ Any overrides that occurred when each entry was passed are also displayed ORACLE 5 3 Viewing Utility Payment Transaction You can view the bill payment transaction in the Bill Payment Query screen You can invoke this screen by typing UPDQUERY in the field at the top right corner of the Application tool bar and clicking on the adjoining arrow button 3 Gall Saeed eee eb Pap Dig Product Cink rin Boii CURTE a PF Tg Tari External Peis eric Firiza khiari ei AiE Currency Se ie AD Clearing UEF MES In this screen you can view the following details for each payment transaction e Reference Number e Institution Identification e Product Code e Transaction Currency e Tanked Transaction For more information on Tanked Transaction refer Branch Parameters chapter under Core Services module 5 3 1 1 Viewing Bill Details You can view the details of the bill issued
18. e receiving institution in the case of Mr Smythe s credit card payments is Global Credit Solutions Limited It is their account or specific GL with your bank that would be credited when Mr Smythe makes a payment against a credit card statement Therefore you must select the number of their account with your bank as the offset account If the receiving institution or utility provider has different accounts in your bank in different currencies and proposes to receive payments in any of those currencies you must maintain a distinct set of ARC details in this screen for each of the accounts Identifying Transaction Details For walk in customers who do not hold accounts in your bank and who are making cash payments to the selected utility provider you must specify the account that must be debited to which debit entries will be posted as well as the branch in which this account resides The branch information could also be used in the case of an inter branch payment transaction Example Mr Edward Smith a walk in customer makes his credit card statement payments to Global Credit Solutions Limited by cash through your bank In this field you must specify the cash account that will be debited for this payment as the transaction account Identifying Transaction Codes In addition you have to also identify the transaction codes against which offset and debit related entries for the payment ought to be tracked Indicating the net
19. icable for any utility payment transactions involving the product Saving Utility Payments Product After you have specified all the mandatory information required for the product in the product definition screens you could save the product You will not be allowed to save the product until you have specified all the mandatory information When you save the product the following information is updated and displayed in the status bar of the UP Product Definition screen e Your User ID in the Input By field e The date and time at which you entered the product in the Date Time field e ORACLE 3 4 4 3 4 5 Also the status of the product is updated as Open and Unauthorized Another user with authorization rights must authorize it before you can begin to use it Specifying Accounts Details To recall you maintain a utility payments product to process a specific kind of utility payment made by customers In order to configure a product to process a specific type of payment made by customers in favor of a specific utility provider you also need to specify the details of the accounts or GL s to which accounting entries need to be posted for any payment transaction for the utility provider You specify these accounts details in the ARC Maintenance screen for each specific utility provider You also map the appropriate product to these details When you do so the product accounting details combination can then be used to proce
20. ity provider The entities that are recipients of any kind of utility payments made by customers are known as receiving institutions or utility providers For instance a company that provides telephone services in favor of whom a customer may make payments for telephone services is one type of utility provider After you have defined a utility payments product to process a specific kind of utility payment of customers you must configure the product to process payments made to a specific utility provider To do this you must specify the following details for the product e The details of accounts or GL s to which accounting entries would be posted when the utility payments are processed This would be specific to each utility provider since the debit and offset accounts for a payments transaction would presumably be different for each utility provider e The utility provider or the institution that would be the recipient for any payments of the type for which you have defined the product made by customers e The currency in which payments would be accepted e The details of any charges that your bank would need to collect or levy for the service of processing the utility payment These details could again be specific to each utility provider Example Global Credit Solutions Limited a credit company who have an USD account in your bank have designated your bank as authorized to accept credit card statement paymenis of their clients
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22. nt you have to necessarily capture the rate that is to be applied on the transaction amount The rate that you specify will be applied after converting the amount into the Account Currency Minimum and Maximum Charge Amount When the charge type applicable on the transaction is a percentage of the transaction amount you have to capture the minimum and maximum charge amounts that should be applied on the transaction If the charge percentage involving a particular transaction is less than the minimum charge the system will by default debit the customer account with the minimum charge amount Similarly when the charge percentage exceeds the maximum amount the system will debit the customer account with the maximum charge amount The charge amount will be deducted in the currency that you specified earlier MIS Head Specify the MIS Head that is applicable for the charge related accounting entry Description You can indicate a short description for the charge ORACLE 5 1 5 2 5 Processing Bill Payments Bill Payment Transactions A customer of your bank could choose to make payments for utility services to the required institutions or utility providers against bills issued by them through your bank Such payments are bill payment transactions In a bill payment transaction the entities involved in a contract are the customer your bank and the institutions utility providers that are the recipients of the bill paymen
23. ponding Oracle FLEXCUBE ATM processing code from the ATM Server based on the ATM Transaction type 4 1 1 2 Specifying Institution ID You must specify the ID of the utility provider for whom the ARC details are being maintained in this record These ARC details would be applicable for all payments to the utility provider involving the selected utility product and made in the selected currency Select the appropriate ID from the options list Example The recipient of Mr Philip Smythe s credit card statement payments is Global Credit Solutions Limited who are your customers and have an account in your bank You must select the CIF of this institution from the option list For each institution that would be a recipient of utility payments you must maintain a separate set of ARC details in this screen For instance in our example if Mr Smythe also makes credit card payments to a different receiving institution utility provider say Central Bank in GBP you need to maintain a separate set of ARC details in this screen for the product CCUP Currency Code GBP and the receiving institution Central Bank combination 4 4 ORACLE 4 1 1 3 4 1 1 4 4 1 1 5 Identifying Offset Details You can specify the Branch and the offset account or GL into which offset entries are to be booked This will be the account that would be credited with the payment Typically this is the account held by the utility provider in your bank Example Th
24. rd AUD USD rates that you have defined in the system to the product CCUP Throughout our discussion of how accounts details and charges information is specified for a utility product in this chapter we will be referring to the example given above ARC Maintenance Screen The ARC Maintenance screen allows you to maintain these details for any utility product against which you process utility payments made by customers in favor of a specific utility provider Through this screen you can e Specify the Accounting entry definition e Indicate the Exchange Rate specifications for any charges e Capture the Charges that should be levied while posting accounting entries related to utility payment transactions involving a utility product in Oracle FLEXCUBE The ARC Maintenance screen can be accessed from the Application Browser The accounts details and charges details or ARC details can be specified to be applicable either for an account class or a product type You need to indicate this in the ARC Maintenance screen If you are maintaining ARC details for an Account Class the ARC details maintained in this screen will be used for posting entries for the Account Class and ATM Transaction Type combination e ORACLE E ARC Maintenance Web Page Dialog External Rate Type Branch Account Class Product Transaction Type Currency Offset Details Branch Account Transaction Details Branch Account Department Co
25. same into their account with your bank e PowerCorp Limited electricity providers e Springwell Water Resources water supply providers e Communications Global telephone service providers Mr Alfred Werker a customer of your bank makes payments for electricity charges water charges and telephone charges to these institutions through your bank You have already defined three products WCUP ECUP and TCUP see example above for each type of payment The charges that you levy for processing each kind of payment could be different for each utility provider Also the accounts that would be impacted and the currencies involved would be different for each of the payments For instance the account that would be impacted when Mr Werker makes an electricity payment would be PowerCorp s account with your bank Whereas when he makes a water supply payment it would be Springwell s account with your bank Also the charges that would be levied in each case would be different In view of this you would need to define three different sets of accounting and charges details for each kind of payment for each utility provider one each for processing electricity charges payment water charges payment and telephone charges payment Having defined these accounting and charges details you will need to map these details to the corresponding product for each of the utility providers mentioned above os ORACLE 3 4 For instance when yo
26. se tance yatusdece tesa essed yscactacosn tes etaedac bate ieteecescaeantaiaccsedasancoucaacecnecetasea cos 3 1 3 1 1 Advantage of DESIRING ProduCt sacciseeusevnstscaictiactaaeiedaaSdai sacha tatatsiaciaubintasd a a 3 3 1 2 POUT IOUS Op TOIL a seers resect E A E E swoon estado ea EA Oddie 3 3 2 Bae 0s 0 SANS E A SA TTO E A E EE eT oe 3 2 3 3 PRODUCTS FOR UTILITY PAYMENT TRANSACTIONS cccsccssccsccsccsccsccscesccssescesccsscescescessessessesscuscescescenss 3 2 3 4 CREATING PRODUCTS FOR UTILITY PAYMENT TRANSACTIONS cscccsccssccssccscccsccnscescesccsscesccescenscescenss 3 4 3 4 1 Features of Utility Payment Product Definition Main SCree n iiccccccccccssseccccccccecnsesesssecceeeeaaseeseeeeeeeaas 3 4 3 4 2 Defining Other Attributes of Utility Payment Products cccccccccccssseesscccceeeeneeesseeeeeeeeaaessseeeeeeesaaanees 3 6 3 4 3 Savne UUU Payme riS FTORUCI lt oncc cite tacavtaeaeioasacacneanedouasiesagtaeanaieieacueaaatsaaioiea aoa taamiwtenaas es oS 3 6 3 4 4 CCTV INS TA CCOUMES PICTUS yrs ster eE EEE 3 7 3 4 5 Cy OL Ot hia OH eh gy OL A101 Ren rete Rene Coe Ene reper ener eee nee een ene reper even eter eee ener ee ee meee enna rere 3 7 4 ACCOUNTS DETAILS AND CHARGES ccccccccccccscccccccccccccccccccccccccccccccccccccccccccccccccccccccccccscces 4 1 4 1 MAINTAINING ACCOUNTS DETAILS AND CHARGES FOR UTILITY PRODUCTS cccccsceeccecesceccecceceecescecs 4 4 1 1 ARC MGIntenan Ce STC esei E a adie
27. should be applied on the transaction It could either be a Percentage of the transaction amount or a Flat Charge Slab Type Select whether the Charge computation has to be over different Amount Slabs or Tiers 0 100 10 101 500 15 etc Basis You can indicate the basis amount on which the charge is to be computed Since you can maintain five different charge amounts the basis amount that you enter could either be the transaction amount or any of the earlier charge amounts For example let us assume you are maintaining Charge 1 The only basis for charge 1 can be the transaction amount While defining Charge 2 you can choose either the transaction amount or Charge 1 as the basis Similarly while defining Charge 3 you can choose the transaction amount or Charge 1 or Charge 2 as the basis Currency You can indicate the currency in which the charge amount would be expressed If the transaction currency is different from the charge currency a conversion would be done using the rate code and rate type that you specify for each charge 4 6 ORACLE Charge Account You can specify the charge account into which charge related entries are to be posted Netting Charge If two or more accounting entries for the same event are to be passed to the same account on the same Transaction Date these entries can be netted You can choose to net the charge leg of the Transaction Account debit entry with the main leg of the customer accoun
28. ss only all those payments made by customers to the specific utility provider to whom the accounts details are applicable To use the same product to process specific payments made by customers in favor of a different utility provider you will need to set up another set of accounting details that are specific to the utility provider in the ARC Maintenance screen and associate these details with the product Invoke the ARC Maintenance screen from the Application Browser For a full discussion of this screen refer the chapter Accounts Details and Charges in this user manual Specifying Charge Details When you process utility payments made by customers your bank may need to levy certain service charges for each utility provider You can specify these charges specifically for a utility provider in the ARC Maintenance screen and associate the product you have created with these charges Whenever you use the product to process a utility payment made to the utility provider for whom you have defined the charges in the ARC Maintenance screen they are applied by default You can override these default charges if necessary Invoke the ARC Maintenance screen from the Application Browser For a full discussion of this screen refer the chapter Accounts Details and Charges in this user manual a ORACLE 4 Accounts Details and Charges 4 1 Maintaining Accounts Details and Charges for Utility Products The institution or util
29. ssociate a utility product with many different ARC details sets Therefore you can use a particular utility product to process payments made in favor of any utility provider but you must maintain distinct ARC details for each individual utility provider Since the ARC related detail are maintained at the Head Office of your bank the details that you specify in this screen will be made applicable to all the branches of your bank Account Class Product While maintaining the ARC details for a utility provider you have to indicate the particular product that would be used to process payments made by customers in favor of the utility provider from the available list Each product in Oracle FLEXCUBE is identified with a unique four character alphanumeric code You can indicate the appropriate utility product Similarly if you are maintaining the ARC details for an Account Class you can identify the appropriate Account Class from the existing list of account classes Example In our example of Mr Philip Smythe s credit card statement payments to Global Credit Solutions Limited you can indicate CCUP as the product for which you are maintaining ARC details in this screen This is the product that you have defined for the purpose of processing credit card statement payments for customers 4 3 ORACLE 4 1 1 1 Currency You must indicate the currency in which the utility provider would accept utility payments made in favor of the utility
30. t Example One of your customers Mr Philip Smythe makes credit card statement payments to Global Credit Solutions Limited through your bank On Mr Smythe s statement the due amounts are expressed in Australian Dollars He has an USD account in your bank through which he makes the payments Global Credit Solutions Limited who are the utility providers have an USD account in your bank Mr Smythe s first credit card statement is issued by Global Credit Solutions Limited dated 1 August 2002 The amount to be paid is 200 AUD Mr Smythe makes payment against this card statement on 3 August 2002 Entering the details of Mr Smythe s payment against this statement constitutes a utility payment transaction in Oracle FLEXCUBE You have maintained a product CCUP for processing credit card statement payments of customers You have also defined the following details in the ARC Maintenance for the product CCUP and the utility provider Global Credit Solutions Limited so that you can use it to enter and process the payment transaction for Mr Smythe e The ID of Global Credit Solutions Limited as the receiving institution or utility provider for any credit card payments made by customers such as Mr Philip Smythe e The USD account held by Global Credit Solutions Limited in your bank has been associated with the product CCUP as the credit account that will be credited with credit card payments made by customers such as Mr Smythe e US
31. the product 3 1 2 1 Other Attributes The following are the other attributes you could define for a utility payments product e The user defined fields that you would want to use for entering transactions against the product A ORACLE 3 2 3 3 e The management reporting MIS details for transactions involving the product Payment Transactions A transaction is a specific operation with financial implications such as a payment that involves two or more entities A customer who approaches your bank to avail of any of the services offered by your bank enters into a transaction or contract with your bank In the case of utility payments of customers the entities involved are the customer your bank and the utility provider The utility provider is the institution in whose favor a customer makes payments and on whose behalf your bank has agreed to accept and process such customer payments In Oracle FLEXCUBE a transaction is entered into the system against a product For instance a payment made by a customer towards electricity charges could be entered into the system against a product defined for processing electricity charges payments with accounting details rates and charges defined specifically for the utility provider that is the recipient of the payment When Oracle FLEXCUBE processes the transaction it will apply all the attributes and specifications made for the product against which the transaction was entered You can
32. ting entry Reval Reqd This option can be selected only for cash operations through Retail Teller Transaction Code You can indicate the code using which the accounting entries would be booked for each charge Rate Code and Rate Type While settling charges for cross currency transactions you can choose to debit the customer by applying the mid rate buy rate or by using the buy sell spread over the mid rate Therefore you need to specify the Exchange Rate details for each ARC definition record that you maintain in the system Firstly indicate the Rate Code for which different rates can be maintained A list of all the rate codes maintained in the Floating Rates Maintenance screen is displayed in the list You can choose the appropriate code In addition to specifying the Rate Code you have to indicate the Rate Type which should be picked up for exchange rate conversions involving settlement of charges for cross currency transactions You can maintain any one of the following as the Rate Type e Buy e Mid e Sell After identifying the Rate Code and Rate Type you can indicate the basis amount on which charges are to be computed Charge Amount You have to specify the flat amount only when the charge type is a Flat Amount The flat amount will be collected in the currency that you have specified in the Currency Code field set ORACLE Rate If you have indicated that the charge should be a percentage of the transaction amou
33. ting of debit leg of charge You have the option to net the accounting entries for the debit leg of the charges along with the main transaction entries Check this box to indicate that the debit leg of the charges is to be netted before passing the accounting entries Leave the box unchecked to pass the entries without netting the charges of the debit leg Generating transaction advice Whether an Advice needs to be generated for the Transaction redundant for J2EEBranch might still be used for other Interfaces Rate Type Specify the rate type The option list displays all valid rate types maintained in the system Choose the appropriate one 4 5 ORACLE Float days basis Whether to consider the Calendar Days or Working Days for computing the Value Date based on the Floats maintained Bank float days In case Bank Float Days is not maintained at the Clearing Bank Branch level it is picked up from here Customer float days In case Customer Float Days is not maintained at the Clearing Bank Branch level it is picked up from here Description End Point Description Display Only field 4 1 1 6 Defining Charge details You can define a maximum of five charges A charge can be computed based either on the transaction amount or on an earlier charge amount As part of defining the Charge details for each charge you need to capture the following details in the corresponding charge tabs Charge Type The Charge Type that
34. u define the account that would be impacted with Mr Werker s electricity payment as PowerCorp s account and define appropriate charges you must map these details to the product ECUP If a second electricity services provider say Global Power Resources also designates your bank as authorized to accept electricity charges payments made by customers you can define another product other than ECUP and set up specific accounting and charges details for the same Alternatively you could use the same product ECUP and define a different set of accounting and charges details that would be applicable to payments made by customers to Global Power Resources Creating Products for Utility Payment Transactions To create a product for utility payments of customers you must specify basic details such as the Product Code Group Description and so on in the UP Product Definition screen You can invoke this screen by typing UPDPRDMN tn the field at the top right corner of the Application tool bar and clicking on the adjoining arrow button E Utility Payment Product Definition Web Page Dialog Exchange Rate Variance in o Product Code Override Limit Description Stop Limit Product Type Rate Code o Fate Type az Slogan Product Group Start Date End Cate Remarks Input By ELLA Date Time Modification Number Ope ip ate ie oditicatian ibe g Open Date Time I Authorized Authorized By In this screen you can
35. unt Details section 5 2 1 1 Specifying Remitter Details If the check used for bill payment is being issued against an account other than the debit account typically a third party account you must specify the account in the Remitter Details section You must also specify the name of the remitter or third party Example Mr Smythe s credit card payments are made by a third party Mr Gordon Greene who issues a check for the payment against his account You must specify Mr Gordon Greene as the remitting customer and his account as the remitter account If you have specified an account that uses an account class that is restricted for the product an override is sought when you attempt to save the contract Specifying Instrument Details You must also specify the details of the check instrument issued for the bill payment These details include e Instrument number e Details of the bank issuing the check i e codes of the bank and branch e Sector code and routing number You can also indicate for the bank that you have specified whether a check can be cleared on the next business day if presented past after the closure of clearing for the day Check the Late box to indicate this Specifying the date details The system displays the date of the bill payment transaction in the Transaction Date field You must specify the date of issue of the check used for bill payment Specify this in the Instrument Date field
36. utomatically saving your effort to specify them afresh each time you input a transaction When Oracle FLEXCUBE processes the transaction it will apply all the attributes and specifications made for the product against which the transaction was entered You can enter more than one payment transaction of a customer for a specific service against a product created for the utility provider Before you enter any payment transactions for a utility provider you should have already defined a specific product to process payments against bills issued against the specific service provided by the utility provider The definition of products for utility payments is explained in detail in the chapter Defining Products for Utility Payments in this user manual For each utility provider you must also define the following details and associate them with the product 1 The specific GL s to which accounting entries would be posted for the payment made for a specific utility to the utility provider 2 Any applicable charges that your bank levies for the service of processing payments made for a specific utility to the utility provider These account details and charges are defined in the ARC Maintenance screen for a product and a specific Institution ID the ID of the utility provider and would apply to all customers that make payments to the specific utility provider The definition of accounts details and charges ARC is explained in the chapter
37. x from which you can select the appropriate group Start and End Date To recall a product is a scheme or service that your bank offers customers Typically a scheme or service is available to customers within a fixed period This period is the life span of the product You specify the product life span by providing a Start Date and an End Date The period between the two dates is when the product is available for use If you do not specify an end date the product can be used indefinitely or until it is closed Remarks You can specify information about a product that will be used for reference within your bank It will not be printed on any correspondence with customers but will be displayed when the details of any payment transaction involving the product are displayed or printed Defining Other Attributes of Utility Payment Products After specifying all these basic details of a product you can indicate certain specific attributes for the product Each of these attributes can be defined in the corresponding screen that you can invoke from the UP Product Definition main screen by clicking the appropriate icons Attributes with common characteristics are grouped together in common screens simplifying the process of defining them Click Fields button to specify any user defined fields that would be required during entry of transactions involving the product Click MIS to specify any MIS details that would be appl
38. y a code Specify an indicative code for instance in our example of Mr Philip Smythe s credit card statement payments you could define CCUP as the product code for a product used to process credit card payments Product Type The product type indicates the category under which the product can be placed and the type of transaction that will be processed against the product A utility payments product can only be used to process utility payments made by customers in favor of a particular utility provider Product Description Give a brief description of the product This description can be used to easily locate and retrieve information regarding the product For any utility product you must specify a description Specify an indicative description for instance in our example of Mr Philip Smythe s credit card statement payments for the product CCUP you could specify Credit card statement payments as the description Slogan Specify a catchphrase for the product You could specify a marketing motto or any other saying that encapsulates the product in a few short words For any utility product you must specify a slogan ra ORACLE 3 4 2 3 4 3 Product Group Products are classified into different groups based on similar characteristics The classification makes it simple to retrieve information about a class of products A list of product groups maintained in the Product Group Definition is displayed in the list bo
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