1. India NEFT User Guide
  2. NEFT Outbound Payments
  3. NEFT Outbound Payments Processing
  4. NEFT Outbound Payment Validations
  5. Transaction Accounting

Transaction Accounting

Debit liquidation accounting entries have both payment entries and charge/tax entries. Accounting details are handed off to accounting system with debit/credit liquidation accounting code linked at Network Currency preferences. Following are the entries posted for the transactions booked:
Dr / Cr Account Value Date TXN_CCY
Dr Customer Account Debit Value Date Account Currency
Cr Intermediary GL Debit Value Date Transfer ccy
Dr Intermediary GL Credit Value Date Transfer ccy
Cr Clearing GL Credit Value Date Transfer ccy
Accounting handoff is done after Network cutover check.
  • Additionally, charge/tax related entries are handed off along with debit liquidation details as per existing process.
  • On payment reject, the reversal entries are posted. However, charges are not reversed as per existing process.

Parent topic: NEFT Outbound Payment Validations