This document describes the procedures on how to add and delete bank settlement charges for treasury transactions during cash settlement.
WHY IS THIS IMPORTANT?
Some transactions may have bank settlement charges. CS Lucas allows these bank settlement charges to be booked during cash settlement and creates accounting events for journaling purposes.
1. From the main menu, select Back Office > Cash Settlement. The screen below is displayed.
2. To view a list of settlement cash flows, choose the Accounting Centre and fill out the From and To date fields. All the settlement cash inflows and outflows for that period will be shown on the screen.
3. To add settlement charges, choose the settlement cash flow item by clicking on the Trade ID. In this example, the Trade ID will be MMK100025.00.
4. Type in the payment amount field under the Settlement Charges section.
5. Then, select the debiting bank account from the Our SSI drop down field. If the debiting account of the settlement charges is the same as the transaction, leave the field blank. System will default the Our SSI in
Settlement Charges section to the same as the Our SSI of the transaction, i.e. TFS–SG–CITI-SG-085.
6. Click Update. You will see a new Fee and Cash Transaction record MAP100004.00 in Cash Settlement screen.
7. To delete settlement charges, select the transaction where settlement charges is inputted by clicking on the trade ID. In this example, MMK100025.00
8. In the amend Cash Settlement Screen remove the payment amount and Our SSI selection under Settlement Charges section.
9. Click Update to save the changes.
10. You will see MAP100004.00 is deleted and will not appear in the Cash Settlement screen.
FREQUENTLY ASKED QUESTIONS
FAQ01. What happens to the settlement charges associated to a trade when the trade is amended or deleted?
When a trade is amended or deleted, the settlement charges associated to the original trade ID will also be deleted. User needs to add the settlement charges to the amended trade.