Transaction posting

This program allows a variety of different posting types to the credit unions members accounts.

When the posting screen initially opens the first option you are given is to setup posting defaults.

This feature allows you to set defaults on the following fields:

  • Transaction type = Select the default type of transaction that will be posted. (e.g. Share deposit)
  • Account number = Select the default account that the transaction posted will have an affect on. (e.g. Sh 1)
  • Cash type = Select the default payment type. (e.g. Cash/Cheque)
  • Narrative = Select from the list or enter a standard narrative, this will appear on each transaction posted. (See narrative maintenance for creating standard narratives.)
  • Batch Number = Enter a user defined batch reference.
  • Fixed date = If this option is selected ( ) then the date entered in the box to the right will be used when posting each transaction.
  • The fields

  • Date = This is the date that the transaction is being entered onto the members account.
  • Value date = If the payment made, does not instantly affect the account balance the value date is entered top show when the payment will clear to the members account.
  • Member No = The membership number of the credit union member.
  • Name = The name of the members account. (Automatically entered)
  • Transaction type = The type of transaction being made to the account.
  • Account = The account which the said transaction will affect. i.e. Share 1, Share 2 ... etc.
  • Type = The type of payment that was made to the account. i.e. Cash, Cheque ... etc.
  • Narrative = The narrative that you want to appear on the members account.
  • Share value = The value of the transaction relating to the share account. (only applicable to share transactions)
  • Loan value = The value of the transaction relating to the loan account. (only applicable to loan transactions)
  • Interest = Calculated amount of interest that will be added back on to the loan account. (Automatically entered)
  • Off principal = The actual amount that will be deducted from the members loan account when a payment is made. ("(Loan Balance" - "Loan value") + "Interest")
  • Preset transaction and payment types

    As you progress through the various fields on the screen, pressing "F2" when prompted will display the following:

    Select from the list or type the corresponding number and press return.

    Select from the list or type the corresponding number and press return.

    Available shortcuts

    Select this option to set defaults values for: 'Transaction type', 'Account number', 'Payment type', 'Narrative', 'Batch number' and 'Fixed date'.

    Select this option to print a withdrawal form for the selected member.

    Select this option to print a statement for the selected member.

    Select this option to view the summary of postings made by the current teller.

    Select this option to show a collective total if a member is paying into multiple accounts for a number of different members. This will make it easier to establish the total amount of money required to make all payments.

    Receipts, Cheques and BACS

    If you are using Curtains to print receipts for your members then, you must press the "Esc" key at the transaction type field before processing transactions for the next member, at this point a message box will appear to confirm that a receipt is required.

  • To activate receipt production see credit union maintenance.
  • If you are using Curtains to print cheques for your members for share/savings withdrawals, then once the transaction has been saved a message box will appear to confirm that a cheque is required.

  • To activate cheque production see credit union maintenance.
  • If you are using Curtains to output BACS for your members for share/savings withdrawals, then once the transaction has been saved a message box will appear to confirm that BACS is required.

  • To activate BACS output see credit union maintenance.
  • Transaction summary

    Once you have finished processing all transaction an overall summary is displayed after clicking the "End batch" button. (as shown below)

    Reversing an entry

    You may have occasion to reverse an entry that has been posted to a members account, in order to correct that entry you can use the F10 function key. When focus is on the 'Member No.' box, type the members number (which contains the incorrect transaction) and press the 'F10' key. The following screen will then show with the selected members transactions.

    Once you have located the transaction to be reversed, simply double-click the entry and you will be prompted with the following message.

    Answer 'yes' to reverse the entry. (The entry that will be reversed is highlighted in red.)

    Treasury management

    Payments/withdrawals that were made by either cash or cheque will be recorded for use with treasury management. The purpose of treasury management is to record what money has been banked and what money is held at the credit union office. This is designed to assist you when making use of the bank reconcilliation program.

  • To activate treasury management see credit union maintenance.
  • Remote processing

    Remote processing is used when processing transactions at collection point. If you are not linked with the live system Curtains can record transactions posted to any form of removable media. This can be used later to update the live system, rather than reprocess the transactions from the collection point.

    These are the steps of remote processing:

    1. Activate ( ) 'Remote processing' within credit union maintenance
    2. Process transaction(s) at the collection point using remote data upload
    3. Select the destination where information will be recorded to.
    4. At the main office use remote data upload to import transactions recorded at collection point.