3.2.18 Revoke Confirmation Contingent Entries Reversal
LCEOD Batch enhanced to support Revoke Confirmation Contingent Entries Reversal:
- To be processed during EOD
- To be processed during next EOD, if processing date is a holiday
- System will pick the contracts in the EOD which is eligible for revoke confirmation contingent entries reversal.
- Contracts which are eligible is that confirmed contracts which is amended before expiry date and extend confirmation is not checked.
For example,
an LC of USD 10000 is issued on 01-Jun and the expiry date is 01-Aug. On 15th July contract amended and the expiry date increased from 01-Aug to 01-Sep and extend confirmation is unchecked. So on the 01-Aug EOD this contracts get picked up and the contingent entries get posted for the available confirmed amount as below.
Table 3-3 During Issuance
| Dr/Cr | Account Role Code | Amount Tag | LCY Amount | LCY Amount Description |
|---|---|---|---|---|
| Dr | LC_CNF | CNF_LIAB_OS_AMT | 10000 | Confirmed LC Amount |
| Cr | LC_CNF_OFF | CNF_LIAB_OS_AMT | 10000 | Confirmed LC Amount |
Table 3-4 During EOD
| Dr/Cr | Account Role Code | Amount Tag | LCY Amount | LCY Amount Description |
|---|---|---|---|---|
| Cr | LC_CNF | CNF_LIAB_DECR_AMT | 10000 | Confirmed LC Amount |
| Dr | LC_CNF_OFF | CNF_LIAB_DECR_AMT | 10000 | Confirmed LC Amount |
| Dr | LC_OCU | UNCF_LIAB_INCR_AMT | 10000 | UnConfirmed LC Amount |
| Cr | LC_CNF_OFF | UNCF_LIAB_INCR_AMT | 10000 | UnConfirmed LC Amount |
- System also releases the limits for the confirmed amount.
- New event RVCE introduced to initiate Reversal of Contingent Entries.
- Maintenance:
- RVCE event should be defined for applicable products
- Accounting entries should be defined for RVCE event
- RVCE will be no version creation event.
- Accounting entries will be generated based on maintenance
- For failed contracts it will be picked up during subsequent EODs.
Parent topic: EOD and BOD Batch Jobs