Outbound Collections Reverse/Recall

Outbound Reversal

Select the outgoing transaction to be reversed in the Original Transaction Reference list of values. Fill the Reverse code, reason & additional info. On save & authorization the following activities are triggered by system:

The underlying original outgoing collection status is marked as Reversed.
The accounting entries posted are reversed, as debit customer account and credit Clearing Suspense GL.
pacs.007 message is dispatched with the message details.
File accounting is posted for the pacs.007 entries, as debit Clearing Suspense GL and credit Nostro account, in DCLG event.

Note:

Reversal can be done, only after the settlement date.

Outbound Recall/Cancellation

Select the outgoing transaction to be recalled or canceled in the Original Transaction Reference list of values. Fill the Recall reject code, reason & additional info. On save & authorization the following activities are triggered by system:

The underlying original outgoing collection status is marked as Recalled.
If the underlying transaction was already dispatched the following activities are triggered:
- The accounting entries posted are reversed, as debit customer account and credit Clearing Suspense GL.
- Camt.056 message is dispatched with the message details.
- File accounting is posted for the camt.056 entries, as debit Clearing Suspense GL and credit Nostro account, in DCLG event.

If the underlying transaction was not dispatched yet, following activities are triggered:
- The underlying transaction is skipped from the next pacs.003 dispatch.
- No accounting would have been be posted, hence no reversal is posted.
- Camt.056 message is not dispatched for this transaction.

Note:

Recall or Cancellation can be done, only before the settlement date.

An outgoing Collections transaction can be reversed/recalled by the creditor bank, after and before settlement respectively through this screen.

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

Figure 5-5 Outbound Collections Reverse/Recall

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

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

Table 5-1 Outbound 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 - ‘Reversal’/ ‘Recall’.

Parent topic: Collections Exception Transactions