Reply from KapilMehta on Jun 19 at 8:17 AM Hi Nikki
That will just post offsetting entries for previous BR document, that was created when bank sent initial confirmation of payment.
ACH Return ( NEFT Rejection ) should also have an impact on vendor account -> Create a new vendor credit OR Make original vendor credit open.
How can we do all this ? Is it possible using EBS Configuration or by user exit ?
Posting rule configuration has posting type 9 'Reset and Reverse clearing'. Any idea what is impact of that ? Can Returns Processing feature in EBS be used here ??
Another issue ( different from above ), Citibank in India has told me that BAI code 195 will be same for ACH Return and International Funds Transfer ( from US to india CC ). Both are deposits in bank account, but do you think it can not have a unique BAI code ?
Appreciate your response.
-Thanks
Kapil
| | | ---------------Original Message---------------
From: KapilMehta
Sent: Wednesday, June 18, 2014 10:24 AM
Subject: EBS - How to process NEFT Rejections [ACH Return/Reject ]
We are implementing EBS in India Company codes using Citibank BAI2 format. How can we handle NEFT Rejections using EBS functionality ?
NEFT Rejections means :- Company tries to pay its vendors by Bank transfer, but due to some reasons payment could not be done to vendor bank account. So bank includes credit in EBS file.
Current Process for NEFT Rejections :-
F110 creates ZP Accounting document which clears Vendor Invoice [ Day 1 ]
Dr Vendor
Cr EFT Clearing GL
Manual Bank reconciliation creates BR Accounting document [ Day 2 ]
Dr EFT Clearing GL [ Clears above GL Line item ]
Cr Cash gl account
Day 3, Citibank sends NEFT Rejections in email. Details include 'Customer Reference field' which has combination of CompanyCode & ZP Document #. Business user manually finds vendor number and posts following entry -
Document type KE [ Day 3 ]
Cr Vendor
Dr EFT Clearing gl account
Above process of creating KE document is a manual step. My Client does not use EBS right now.
End objective is:-
1. GL accounts [ Main bank and Sub-accounts ] should be updated since payment did not happen.
2. Vendor Invoice should either be opened again OR a new Credit should be posted to vendor account
But Using EBS, how can I meet requirement for NEFT Rejections ?
Please provide feedback.
-Thanks
Kapil |
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