Inbound Collections Reverse/Recall

Inbound Reversal

An incoming collections transaction can be reversed by the creditor bank, after settlement. The creditor bank sends a pacs.007 message for the same. On uploading this message following activities are triggered by the system:

File level accounting is posted for pacs.007 entries as debit Nostro and credit Clearing Suspense GL with RCLG event.
The corresponding outgoing collection transaction is marked as reversed.
The accounting entries posted on the transaction is reversed as debit Clearing Suspense GL and credit Nostro account.

In case of any issues in pacs.007 file upload, you can also initiate the reversal request from inbound reverse/recall screen.

Inbound Recall/Cancellation

An incoming Collections transaction can be recalled or canceled by the creditor bank before settlement. The creditor bank sends a camt.056 message for the same. On uploading this message following activities are triggered by the system:

File level accounting is posted for camt.056 entries as debit Nostro and credit Clearing Suspense GL with RCLG event.
The corresponding outgoing collection transaction is marked as recalled.
As the recall or cancel is triggered before settlement date, no transaction level accounting would have been posted on the transaction yet. Hence no accounting reversal is triggered on the transaction level.

In case of any issues in camt.056 file upload, you can also initiate the recall request from inbound reversal/recall screen.

On Homepage, specify PCDINREV in the text box, and click next arrow.
Inbound Collections Reverse/Recall screen is displayed.

Figure 5-30 Inbound Collections Reverse/Recall

On Inbound Collections Reverse/Recall screen, specify the fields.

For more information about the fields, refer to field description below:

Table 5-10 Inbound Collections Reverse/Recall - Field Description

Field	Description
Recall/Reverse Reference Number	This field gets auto-populated with the Reverse Reference Number on clicking New button.
Recall/Reverse Date	This field gets auto-populated with the Reverse Date when you click on New. System displays the current date by default.
Recall/Reverse Status	Specify the Reverse Status.
Original Transaction Reference	Specify the Original Transaction Reference from the list of values.
Transaction Branch	Specify the Transaction Branch.
Host Code	This field gets auto-populated with the Host Code of the specified branch code on clicking New button.
Network Code	This field gets auto-populated with the Network Code of the specified branch code on clicking New button.
End to End ID	Specify the End to End transaction Identification.
RType	This indicates if the transaction is reversed/recalled. RType gets updated based on the Reference number. The options are following: Reversal Recall

Parent topic: Collections Exception Transactions