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Wednesday

Introduction to Transaction Maintenance

   TRANSACTION MAINTENANCE

In day-to-day banking operation various customers are making transactions in their accounts.These transactions are either debit transactions or credit transactions.Customer makes these transactions by the way of depositing cash, withdrawing the cash or issue the transfer from one account to another account of himself or another customer. Finacle is having the layer for different types of transactions.


In Finacle there are Financial and Non-financial Transactions


  • Financial transaction means the transactions made by the way of cash, transfer or clearing.


  • A Non-financial transaction means every operation or process other than financial transaction.


There are three types of transactions in banking operations.
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Two types of Transaction ID:
User Created: DC number is generated by system. All transactions made by teller/
cashier are user created transactions. The cash or transfer transactions are mostly
user created transactions.

System Generated: S number is generated by system. These types of
transactions are system-generated transactions. Clearing transactions, various
charges, commission, interest application, standing instructions etc. are some
examples of system-generated transactions.

Status of Transaction:
(1) Entered (2) Posted (3) Verified (4) Deleted
Methods:
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*The two persons must be involved in every transaction i.e. Maker & Checker
To know how to make a transaction in finacle click here

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