Collection Settings

Collection settings menu allow you to maintain the settings for the collection on the basis of which bulk Collection of transactions can be done.

Following are the tabs in a Collection Setting:

• Profile

• Settings

• Availability

• Transaction code

To add new Collection setting.

1. From Retail menu, click Settings, then Collection settings. Collection Setting Search page appears.

2. Click Add. New Collection Settings -- Profile (1/4) page appears.

3. Enter Description for the Collection setting.

4. Select Collection type from the dropdown list of pre-defined payment types. The options are Inward and Outward.

• Inward -- Collections coming in is Inward collection.

• Outward -- Collections going out is Outward collection.

• Own account transfer -- It is the transfer between two accounts of the same client in the same bank.

• Other client transfer - It is the transfer between two clients of the same bank.

5. Select Settlement type radio button as Gross or Net. By default, the Settlement type will be Net.

6. Select Currency rate type from the dropdown list of Currency rate types maintained under Admin > System codes > Currencies > Currency rate types. Currency rate type is used for calculating the exchange rate.

7. Transit ledger is used as an intermediary ledger in the core bank for Inward / Outward Collections. Input the required ledger number that will be used as the Transit ledger to record all transactions. Alternatively, you can click on Transit ledger hyperlink, to see the General Ledger Account Search screen. All the ledgers belonging to ledger type Asset, Liability where the cash account is No and Manual posting is No are shown. You can select the required ledger. This field is enabled only if the Payment type is selected as Incoming / Outgoing.

8. Clearing suspense ledger is used for Inward and Outward Collection clearance, enabled only for Suspense type - Net. It is used to park the funds before the funds are sent for clearance in case of Outward Collections and for moving the funds in case of Inward Collections. Input the required ledger number that will be used as the Clearing suspense ledger to record all transactions. Alternatively, you can click on Clearing suspense ledger hyperlink, to see the General Ledger Account Search screen. All the ledgers belonging to ledger type Asset, Liability where the cash account is No and Manual posting is No are shown. You can select the required ledger. This field is enabled only if the Collection type is selected as Inward / Outward and Suspense type is chosen as Net.

9. Click Next. New Collection Settings -- Settings (2/4) page appears.

10. Check Process only on rate update checkbox to make Aura check if the Exchange rate for the day is updated / refreshed before posting any transaction. If this option is checked, Aura will wait for rate update for the day before any life-cycle processing in the Collection is taken up for the day. Else, the posting of transaction will fail. By default, it will be unchecked.

11. Check Restrict to base currency checkbox to make Aura restrict the transaction to the base currency. If this option is checked, Aura will restrict the transaction only on the base currency. By default, it will be unchecked.

12. Check Convert through base currency checkbox to make Aura convert the transaction through the base currency. If this option is checked, Aura will convert the transaction only through the base currency. By default, it will be unchecked.

13. Enter Positive variance (%) for the Collection setting. Positive variance will be the percentage of variance on the positive side for the rate of Exchange rate.

14. Enter Negative variance (%) for the Collection setting. Negative variance will be the percentage of variance on the negative side for the rate of Exchange rate.

For example:

Suppose, Exchange rate = 9.1

Positive variance % = 5% of 9.1= 0.45 (9.1+0.45= 9.55)

Negative variance % = 5% of 9.1= 0.45 (9.1-0.45= 8.65

15. Check Restrict back value date checkbox to make Aura restrict the back-value date for any transaction to the number of days entered in the Days for back value field. If unchecked, Aura will not display the Days for back value field.

16. Enter Maximum number of days for back value for the Collection setting. This will be the number of days to which Aura will restrict the back value dated transaction.

Note: Aura will allow entering maximum of 3 digits.

17. Check Restrict future value date checkbox to make Aura restrict the future-value date for any transaction to the number of days entered in the Days for future value field. If unchecked, Aura will not display the Days for future value field.

18. Enter Maximum number of days for future value for the Collection setting. This will be the number of days to which Aura will restrict the future value dated transaction.

Note: Aura will allow entering maximum of 3 digits.

19. Enter Maximum retry count to be allowed by Aura to retry a failed transaction. On retry, Aura will follow the normal accounting entry process. Value allowed is from 0 - 9. By default, the field will be blank.

For example:

If Maximum entry count = 0; then Aura will not allow any retry for failed transactions.

If Maximum entry count = 3, then Aura will allow 3 retries for failed transactions

20. Click Next. New Collection Settings -- Transaction Code (3/4) page appears.

Note: In the table below, you will find the description of the fields, the use and the conditions for each of the GLs / Transaction Codes. You can either directly input the Ledger # / Transaction Code or click on the hyperlink to see the list of GL / Transaction Codes satisfying these conditions and select the required Ledger # / Transaction Code.

[Fields]	[Used]	[List of Accounts/Transaction Codes based on]
Debit Processing	For recording all debit processing transactions in Client Account	Transaction type Debit (Client/DB)
Debit processing	For recording all debit processing transactions in General Ledger.	Transaction type Debit (GL/DB)
System debit	For recording all debit transaction in General Ledger account.	Transaction type Debit (GL/DB)
System Credit	For recording all credit transaction in General Ledger account	Transaction type Credit (GL/CR)
Credit Processing	For recording all Credit processing transactions in Client Account	Transaction type Credit (Client/CR)
Credit processing	For recording all Credit processing transactions in General Ledger.	Transaction type Credit (GL/CR)

21. Click Next. New Collection Settings -- Confirmation (4/4) page appears.

22. Click Finish. Collection Settings page appears with status as Active.

Functions: Add, Suspend, Search, Edit

Note: On creation of new Collection Settings, the Status of the record will show as Active.

Suspend: You can suspend a Collection Setting record by clicking on Suspend button. When you click on Suspend button, Aura will ask for confirmation. On confirmation Aura will suspend the Collection Setting record and Activate button will appear in place of the Suspend button.

Activate: If you want to activate a suspended Collection Setting record then click on Activate button. Aura will ask for confirmation. On confirmation Aura will Activate the Collection Setting record and Suspend button will appear in place of Activate button.

Profile

Profile tab, which is the default tab in the Collection Settings screen, shows the basic details of the Collection Setting.

To view/edit Profile

1. Access Payment Settings page then click Profile tab to view the details as per sample below. The details are defaulted from the entries that you made during creation of Collection Settings. For details refer to New Collection Settings -- Profile (1/4).

2. Click Edit. Edit Profile page appears.

Note: All the fields are editable except the Collection type and Settlement type fields.

3. Click Save. Profile page appears with the edited details.

Functions: Edit

Settings

Using this tab, you can view and edit the various Collection settings as selected while creating the Collection setting record.

To view/edit settings

1. Access Collection Settings page then click Settings tab. The values are defaulted from New Collection Settings -- Settings (2/4).

2. Click Edit. Edit Settings page appears.

3. Click Save. Settings page appears with the edited details.

Functions: Edit

Availability

Using this tab, you can allow the Collection Setting to be available for all the Branches or only specific Branch (es).

To select Branch

1. Access Collection Setting page then click Availability tab, and then click Branch sub tab.

All-radio button is selected by default, so that the collection setting is available for all Branches.

To restrict the branches for which this collection setting is available, click Selected radio button. Add button is now enabled.

2. Click Add. Add Branch screen appears where you can select the required branch from the drop-down of all active Branches of the Entity.

3. Click Save. Branch sub tab page appears with the added branch details under Availability tab.

Functions: Add, Delete

Delete: To delete a branch, select the branch and click Delete. You may choose to allow All branches for the product at any time. However, Aura will prompt you to confirm if the selected branches may be deleted. If confirmed, then all the selected branches will be deleted, and the product will be available for ALL Branches.

Transaction code

Transaction code tab allows you to specify the transaction codes that are to be used for the various events while processing a transaction. These transaction codes define what description / narration is used for the account postings / statements.

To view /edit Transaction code

1. Access Collection Settings page then click Transaction code tab.

2. Click Edit. Edit Transaction code page appears.

3. Click Save. Transaction Code page appears with the edited details.

Functions: Edit

The events in Collection Status are listed below

[Events]	[Description]	[Condition]
COLLBK	Collection Booked	This event occurs when a collection transaction is booked.
COLLSC	Collection Sent for Collection	This event occurs when a collection transaction is sent for collection.
COLLDP	Collection Debit Processing	This event occurs when an account is debited.
COLLCP	Collection Credit Processing	This event occurs when an account is credited.
COLLRV	Collection Reversal	This event occurs when a Collection transaction is reversed.
COLLCN	Collection Cancelled	This event occurs when a collection transaction is cancelled.